Sentences with phrase «vacancy decontrol with»
New York State Senators and Assembly members (or their representatives) in attendance signed a statement pledging to address repeal of vacancy decontrol with their chamber's Speaker, Housing Chair, and the Governor by January 10, 2009.
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The City will work with the state as rent regulation comes up for renewal in 2015 to prevent abuses of the vacancy and luxury decontrol provisions and capital improvement rules.
Vacancy decontrol is not done away with but the guidelines for it have increased.
In the past, legislators and governors have used the sunset date to shift the balance from tenants to landlords, with what's known as vacancy decontrol, once the monthly price of an apartment and the tenants» income reach a certain threshold.
A similar standoff with Republicans forced Democrats in 1997 to accept «vacancy» and «luxury» decontrol, which allow landlords to escape price regulations when monthly rents exceed $ 2,000 and tenants earn more than $ 175,000 annually.
The four - year extension of the state's rent control laws will also include an increased threshold of vacancy decontrol to $ 2,700 with indexing.
Despite the qualifier, it represented a change of position for Espada who, in a September session with reporters in his office, said he didn't support repealing the vacancy decontrol and instead wants to focus on creating more incentives for developers to construct affordable housing.
«With the shortage of housing in New York City and its surrounding areas, vacancy decontrol only further erodes the stock of rent - regulated housing,» Wright wrote.
Perhaps the most contentious part of the Assembly plan is a push to repeal a provision that allows apartments with monthly rents of at least $ 2,500 to become decontrolled upon vacancy.
On another issue that's atop the legislative agenda, the Post's Fred Dicker reports that there is a deal afoot to pass rent reform, with the minimum rent for vacancy decontrol likely to be hiked up to $ 2,500 from $ 2,000.
While the bill will be sent to the Republican - led state senate for consideration, Heastie hailed the legislation as combating «ever - increasing rents» through measures that include the repeal of vacancy decontrol and limiting rent increases associated with building or apartment improvements.