Res 0622-2015

By Council Members Reynoso, Williams, Gibson, Lander, Levin, Levine, Rodriguez and Menchaca Whereas, According to the 2014 New York City Housing and Vacancy Survey, New York City is currently in an affordable housing crisis and has a housing vacancy rate of 3.45 percent; and Whereas, The largest affordable housing program in New York City is Rent Stabilization, which protects tenants from harassment and unreasonable rent increases or evictions in privately owned buildings; and Whereas, New York City has over 1 million rent stabilized apartments which represents almost half of the City's rental housing stock; and Whereas, New York State Homes and Community Renewal (HCR) is the state agency responsible for administering rent stabilization; and Whereas, A stabilized unit can be removed from rent stabilization when the rent reaches $2,500 per month upon vacancy or when the household income exceeds $200,000 for two consecutive years; and Whereas, A property owner can increase the rent of a rent stabilized unit by 20 percent each time such unit becomes vacant ( The "Vacancy Bonus") ; and Whereas, A property owner is eligible for an increase if the tenant leaves an apartment that is uninhabitable due to lack of heat, hot water, electricity, repairs or sanitary conditions; and Whereas, The vacancy bonus has resulted in removal of apartments from the rent stabilization system; and Whereas, S.951, pending at the New York State Legislature, sponsored by State Senator Serrano, would repeal the Vacancy Bonus provisions of the Emergency Tenant Protection Act of 1974; and Whereas, Enacting this law will help preserve affordable housing for low and middle income families in New York City; now, therefore, be it Resolved, That the Council of the City of New York calls upon the New York State Legislature to pass and the Governor to sign S.951, which repeals provisions of the Emergency Tenant Protection Act of 1974 that allow a 20 percent rent increase bonus after the vacancy of a tenant in a rent stabilized unit. LS # 3049, 4175 2/25/2015 11:37 AM JLC