Affordable retail space in financially assisted development projects, and to provide for the expiration of the provisions relating thereto.

A Local Law to amend the administrative code of the city of New York, in relation to affordable retail space in financially assisted development projects, and to provide for the expiration of the provisions relating thereto

This bill would require the City to determine whether affordable retail space must be provided in certain development projects for which it provides financial assistance. Such determination shall be based upon a neighborhood retail needs assessment that incorporates information about the neighborhood and commercial environment related to the location of the development project. The City would have to report on its provision of affordable retail space in development projects each year, including explaining the basis of its determination that affordable retail space must not be provided.