City Lawmakers Join Fight To Preserve Affordable Housing
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City Council Speaker Christine Quinn announced legislation Wednesday that will extend both the rent-control and rent-stabilized programs through 2012, which are set to expire on April 1st.
Quinn announced another piece of legislation that urges Albany to give the city back the right to control its rent and eviction laws.
The City Council is also pressing state lawmakers to repeal the vacancy decontrol provision, which eliminates rent regulated apartments.
"When an apartment is vacancy decontrolled it is lost forever. It will never become a rent protected affordable apartment again unless vacancy decontrol is repealed by the state legislature."
"This new breed of real estate are buying up residential properties with the intent of sucking the life blood out of stable communities. These real estate speculators believe they are above the law in regulation. That's why rent regulation, a check on this predatory behavior is critical and it's urgent."
The City Council estimates vacancy decontrol may have led to a loss of 300,000 rent-protected apartments throughout city over the last 15 years.
The repeal of the vacancy decontrol provision passed in the state Assembly last month.