Since January 2016, the 421a abatement — which saves developers big in taxes and creates some affordable housing — has been unavailable for new development projects. But that will soon change with a forthcoming bill that will revive the developer tax cut in exchange for setting aside subsidized affordable apartments. With a new name “Affordable New York,” the tax abatement program would create 2,500 units of new affordable housing per year and will extend the tax incentives for 40 years, according to Governor Andrew Cuomo.