Mayor de Blasio at the April 5th press conference. Image credit: Mayor’s Office.
Roof rehabilitations are part of the de Blasio administration’s plan to improve NYCHA’s physical infrastructure and safety. On April 5, 2018, Mayor Bill de Blasio announced that the roofs at 65 NYCHA buildings have been completely replaced as part of the Mayor’s plan to replace the roofs of NYCHA buildings. Mayor de Blasio has invested $1.3 billion so far to repair 950 roofs of NYCHA buildings. The new roofs will reduce mold on NYCHA buildings and provide a long-term, cost-effective solution to improve the quality of life for tenants. (read more…)
Mayor Bill de Blasio. Image Credit: Benjamin Kanter/Mayoral Photo Office.
Due to City’s low vacancy rate, rent stabilization laws have been extended. On March 27, 2018, Mayor Bill de Blasio signed legislation to extend rent regulation laws for the next three years. The laws will remain in effect until April 1, 2021. State rent stabilization laws continue to be effective when the vacancy rate is below 5%. The City’s vacancy rates are determined and measured by the Housing and Vacancy Survey, which is conducted every three years. According to the 2017 Housing and Vacancy Survey, New York City has a 3.63% vacancy rate. Mayor de Blasio’s legislation affirms that New York City is in a housing crisis. The legislation demonstrates to Albany that the City is in need of the State’s rent stabilization laws. (read more…)
270 Park Avenue. Image Credit: Google Maps.
JPMorgan Chase intends to pursue building a new 2.5 million-square-foot headquarters at its 270 Park Avenue location. On February 21, 2018, Mayor Bill de Blasio and JP Morgan Chase Chairman and CEO Jamie Dimon announced the construction of a new 2.5 million-square-foot headquarters at its 270 Park Avenue location in Manhattan, which will be the first project under the City’s innovative East Midtown Rezoning plan passed in 2017. Under the East Midtown rezoning, JPMorgan Chase will purchase development rights from landmarks in the surrounding district in order to build a larger building. The new building would have a modernized infrastructure and design, including 21st century systems and technology. (read more…)
Mayor Bill de Blasio. Image Credit: NYC Mayor’s Office.
Small businesses will now receive free legal services for issues related to a business lease. On February 6, 2018, the de Blasio administration announced the launch of the new Commercial Lease Assistance Program, which will offer assistance to small business owners with lease negotiation, landlord issues, lease renewal, and eviction notices. Non-franchise businesses that meet an income requirements will be eligible for this program. (read more…)
Mayor Bill de Blasio. Image Credit: NYC Mayor’s Office.
A $200 million investment will be used to replace boilers and upgrade heating systems at 20 NYCHA developments. On January 31, 2018, Mayor de Blasio announced the investment aimed at assisting NYCHA developments experiencing chronic outages. The $200 million investment is part of the Mayor’s investment in NYCHA including $2.1 billion in capital infrastructure and $1.6 billion in operating funds. The upgrades are expected to save NYCHA approximately $5 million per year in energy costs. (read more…)
