Gov. Andrew Cuomo in an interview on Inside City Hall on Monday insisted there was no immediate rush to renew or replace the 421a tax abatement for the real-estate industry in New York City.

The debate over 421a in Albany last year was punted to developers and labor unions after lawmakers and Cuomo could not agree on a renewal for the program, which centered around expanding affordable housing provisions in the measure as well as requiring a prevailing wage.

But labor and the real-estate industry could not come to an agreement on renewing the abatement and it ultimately lapsed.

Cuomo in the interview insisted there was a “pipeline” of projects already underway that isn’t spurring a push to have the abatement renewed or a new one created in its place.

“We’ve been trying to get the labor unions to agree with the developers on a reimbursement rate where they can build the housing affordably, but still with union labor,” Cuomo said. “But thus far they haven’t come to terms. One of the reasons they’re not agreeing is we don’t have to get it done this year because there is a pipeline.”

Having a new 421a in place is key for Senate Republicans especially, given their main donor support has been from the real-estate industry.

However, Cuomo insisted lawmakers in both the Senate and Assembly won’t approve a new tax abatement without a prevailing wage provision included.

“You can have a fair program that pays a fair rate to the unions and also a fair rate of profit to the developers,” he said. “I believe there is that balance to be struck. But they have to strike that balance. We’re still trying, but the Legislature is not going to approve a plan that kicks the Legislature out of the affordable housing business.”