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New York City Council wants billions for affordable housing nonprofits
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The New York City Rent Guidelines Board begins public hearings this week and as always, we’re expecting an unhelpful spectacle. Meanwhile, the City Council is in the middle of budget negotiations, and members are pushing to spend billions on transferring ownership of rent-stabilized buildings to nonprofits. Given the current costs of maintaining these buildings, how these nonprofits would remain solvent remains to be seen.
Stories cited in this episode:
The Daily News: The Rent Guidelines Board must keep rents down
The City: Regulated Apartments Vanish at Rising Rate, Rent Board Learns as It Readies Hike Vote
City Limits: Council Pushes for More Housing Funds As City Budget Negotiations Enter Final Weeks
The Real Deal: Nonprofit Developers Back Progressives’ Housing Funding Plan
The Real Deal: NYC pension fund pumps $60M investment into Signature loans
Gothamist: 64 office buildings in NYC could become new housing
City & State: Progressives launch campaign to get upstate cities to opt in to ‘good cause’ law
The City: NYC Property Owners Could See Their Water Bill Rise by 8.5%
BisNow: Unpaid Rent Is Still Piling Up, Threatening The Future Of NYC’s Affordable Housing
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