tldrgov

Committee on Finance

Thursday, January 29, 2026 · 10:30 AM AM · 250 Broadway - 8th Floor - Hearing Room 1

TL;DR

The Finance Committee approved four bills related to tax liens and creating a land bank—tools to help the city manage unpaid property taxes and potentially redevelop vacant properties. The Mayor vetoed these bills, but the Committee advanced them anyway, effectively rejecting the Mayor's disapproval. The Committee also approved a tax exemption agreement for Penn South housing properties in Manhattan.

Key Decisions

  • Land Bank Creation Passed
  • Tax Liens Reporting and Task Force Passed
  • Transfer of Tax Liens to Land Bank Passed
  • Sale of Tax Liens Passed
  • Penn South Tax Exemption Agreement Passed
Agenda PDF Minutes PDF Video

Agenda

  1. Int 0570-2024 A Local Law to amend the administrative code of the city of New York, in relation to creating a land bank
    Introduction
    Action: Hearing Held by Committee

    This Introduction was Hearing Held by Committee

  2. M 0008-2026 Communication from the Mayor – Veto and disapproval of Introductory Number 570-B of 2024 - A Local Law to amend the administrative code of the city of New York, in relation to creating a land bank
    Mayor's Message
    Action: Hearing Held by Committee

    This Mayor's Message was Hearing Held by Committee

  3. Int 1407-2025 A Local Law to amend the administrative code of the city of New York, in relation to the sale of tax liens
    Introduction
    Action: Hearing Held by Committee

    This Introduction was Hearing Held by Committee

  4. M 0016-2026 Communication from the Mayor – Veto and disapproval of Introductory Number 1407-A of 2025 - A Local Law to amend the administrative code of the city of New York, in relation to the sale of tax liens
    Mayor's Message
    Action: Hearing Held by Committee

    This Mayor's Message was Hearing Held by Committee

  5. Int 1419-2025 A Local Law to amend the administrative code of the city of New York, in relation to reporting regarding unresolved tax liens, and to repeal and replace section 11-356 of such code, relating to a temporary task force on tax liens
    Introduction
    Action: Hearing Held by Committee

    This Introduction was Hearing Held by Committee

  6. M 0018-2026 Communication from the Mayor – Veto and disapproval of Introductory Number 1419-A of 2025 - A Local Law to amend the administrative code of the city of New York, in relation to reporting regarding unresolved tax liens, and to repeal and replace section 11-356 of such code, relating to a temporary task force on tax liens
    Mayor's Message
    Action: Hearing Held by Committee

    This Mayor's Message was Hearing Held by Committee

  7. Int 1420-2025 A Local Law to amend the administrative code of the city of New York, in relation to the transfer of tax liens to a land bank
    Introduction
    Action: Hearing Held by Committee

    This Introduction was Hearing Held by Committee

  8. M 0019-2026 Communication from the Mayor – Veto and disapproval of Introductory Number 1420-A of 2025 - A Local Law to amend the administrative code of the city of New York, in relation to the transfer of tax liens to a land bank
    Mayor's Message
    Action: Hearing Held by Committee

    This Mayor's Message was Hearing Held by Committee

  9. T2026-0326 Resolution approving a proposed Tenth Amendatory Agreement between the City of New York and Penn South in relation to an exemption from real property taxes for the properties located at 212-226 9th Avenue (Block 747, Lot 1), 311-351 West 24th Street (Block 748, Lot 1), 250-268 9th Avenue (Block 749, Lot 1), 313 8th Avenue (Block 749, Lot 24), 270-296 9th Avenue (Block 751, Lot 1), and 305 9th Avenue (Block 752, Lot 1) in Manhattan, pursuant to Section 114 of the Private Housing Finance Law and in accordance with Section 125(1)(a-4) of such Law (Preconsidered L.U. No. )
    Resolution
    Action: Hearing on P-C Item by Comm

    This Resolution was Hearing on P-C Item by Comm

  10. M 0019-2026 Communication from the Mayor – Veto and disapproval of Introductory Number 1420-A of 2025 - A Local Law to amend the administrative code of the city of New York, in relation to the transfer of tax liens to a land bank
    Mayor's Message
    Action: Filed by Committee

    This Mayor's Message was Filed by Committee

  11. Roll Call
  12. Int 1419-2025 A Local Law to amend the administrative code of the city of New York, in relation to reporting regarding unresolved tax liens, and to repeal and replace section 11-356 of such code, relating to a temporary task force on tax liens
    Introduction
    Action: Approved by Committee Passed

    A motion was made that this Introduction be Approved by Committee approved by Roll Call.

  13. M 0018-2026 Communication from the Mayor – Veto and disapproval of Introductory Number 1419-A of 2025 - A Local Law to amend the administrative code of the city of New York, in relation to reporting regarding unresolved tax liens, and to repeal and replace section 11-356 of such code, relating to a temporary task force on tax liens
    Mayor's Message
    Action: Filed by Committee

    This Mayor's Message was Filed by Committee

  14. Int 1420-2025 A Local Law to amend the administrative code of the city of New York, in relation to the transfer of tax liens to a land bank
    Introduction
    Action: Approved by Committee Passed

    A motion was made that this Introduction be Approved by Committee approved by Roll Call.

  15. M 0016-2026 Communication from the Mayor – Veto and disapproval of Introductory Number 1407-A of 2025 - A Local Law to amend the administrative code of the city of New York, in relation to the sale of tax liens
    Mayor's Message
    Action: Filed by Committee

    This Mayor's Message was Filed by Committee

  16. Int 0570-2024 A Local Law to amend the administrative code of the city of New York, in relation to creating a land bank
    Introduction
    Action: Approved by Committee Passed

    A motion was made that this Introduction be Approved by Committee approved by Roll Call.

  17. T2026-0326 Resolution approving a proposed Tenth Amendatory Agreement between the City of New York and Penn South in relation to an exemption from real property taxes for the properties located at 212-226 9th Avenue (Block 747, Lot 1), 311-351 West 24th Street (Block 748, Lot 1), 250-268 9th Avenue (Block 749, Lot 1), 313 8th Avenue (Block 749, Lot 24), 270-296 9th Avenue (Block 751, Lot 1), and 305 9th Avenue (Block 752, Lot 1) in Manhattan, pursuant to Section 114 of the Private Housing Finance Law and in accordance with Section 125(1)(a-4) of such Law (Preconsidered L.U. No. )
    Resolution
    Action: P-C Item Approved by Comm Passed

    A motion was made that this Resolution be P-C Item Approved by Comm approved by Roll Call.

  18. Int 1407-2025 A Local Law to amend the administrative code of the city of New York, in relation to the sale of tax liens
    Introduction
    Action: Approved by Committee Passed

    A motion was made that this Introduction be Approved by Committee approved by Roll Call.

  19. M 0008-2026 Communication from the Mayor – Veto and disapproval of Introductory Number 570-B of 2024 - A Local Law to amend the administrative code of the city of New York, in relation to creating a land bank
    Mayor's Message
    Action: Filed by Committee

    This Mayor's Message was Filed by Committee