These are the nine rent regulation proposals that will go to the legislative floor for a vote [SOURCE: City]:
1)Expansion of the Emergency Tenant Protection Act, which regulates rents and evictions during a housing emergency. (A housing emergency is when there is a housing vacancy rate of 5% or lower.)
2)Prohibiting evictions without “good cause.”
3)End vacancy decontrol, which makes a rent-stabilized apartment no longer eligible for stabilization if its rent exceeds $2,774.76 or the tenant’s household income exceeds $200,000.
4)Eliminating the vacancy bonus, which allows landlords to increase the rent on an apartment by 20% every time a lease changes hands.
5)Make preferential rents permanent until vacancy.
6)End rent hikes for major capital improvements.
7)End rent hikes for individual apartment improvements.
8)Extend time for overcharge complaints by eliminating the statute of limitations regarding this issue for rent-stabilized tenants.
9)Rent control and rent stabilization increase cap.
A homeless shelter is slated to be opened on Billionaire’s Row, a stretch of New York City that is purported to be some of the most expensive real estate in the world.
The area that is located at the southern end of New York City’s Central Park will reportedly soon be home to a 150-bed men’s homeless shelter. After multiple rounds of litigation, a Judge recently gave the green light to the shelter’s opening at the former Park Savoy Hotel, located on 58th Street, near 7th Avenue.
Residents of the area attempted to fight the opening of the shelter in court stating that the building was unsafe for residency, would increase crime in the area, and would cause economic harm to the value of neighboring properties.
In light of the most recent judicial ruling, opponents to the shelter vow to continue to pursue an appeal. Meanwhile, according to news source Breitbart, social services Commissioner Steven Banks has stated that, “We will begin servicing our neighbors in need at this location as soon as possible.”