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What is the incentive or benefit for the banks to lease the land that NYCHA developments are built on?

April 26, 2017Banks benefit built developments land lease NYCHA

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What is the incentive or benefit for the banks to lease the land that NYCHA developments are built on?

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The first incentive for the banks is to receive Community Reinvestment Act Credit for investing and lending money into low and moderate income communities. All large banks have a Community Reinvestment Act requirement.