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    Council Committee Holds Hearing on Rent Stabilization Extension [UPDATE: Legislation Passes Council]

    Rent Regulation  •  Citywide
    Council Member Jumaane D. Williams hears testimony on strengthening rent regulation laws. Image credit: William Alatriste/New York City Council

    Council Member Jumaane D. Williams hears testimony on strengthening rent regulation laws. Image credit: William Alatriste/New York City Council

    Legislation would extend rent stabilization laws for three years and call on state legislature to strengthen existing laws.  On March 2, 2015 the City Council Committee on Housing and Buildings held a public hearing on Intro 685, a proposed law to amend the city’s administrative code and extend New York City’s existing rent stabilization laws.  Intro 685 declares the existence of a “housing emergency”, where the city’s vacancy rate drops below 5 percent, and the declaration is required under the New York City Rent Stabilization Law to extend rent stabilization.

    (read more…)

    Tags : Council Member Antonio Reynoso, Council Member Corey Johnson, Council Member Jumaane D. Williams, Council Member Mark Levine, Council Member Rafael Espinal Jr, Deputy Mayor Emma Wolfe, Housing and Buildings Committee, Housing New York
    Date:03/13/2015
    Category : City Council
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