A proposal guaranteed to destroy NYC's housing stock.
Espada bill would freeze stablized rents
ALBANY, N.Y. -- A Senate bill being introduced would freeze the rent for low- and moderate-income households in rent-subsidized apartments in New York City.
Senate Majority Leader Pedro Espada is proposing Wednesday a rent relief assistance program to freeze the rents of nearly 300,000 households in all five boroughs. By the 10th year of his proposal, the rent for a third of the city’s 1 million rent-stablized apartments would be frozen for a decade.
The goal is to maintain affordable housing for working and middle-class residents in one of the most expensive cities in the world.
Renters making up to $45,000 a year in a household could be eligible.
The program would be funded through landlords, not city or state funds, if approved by the full Legislature and signed by Gov. David Paterson.
Posts
No comments:
Post a Comment