Res 0386-2022

Whereas, The availability of a sufficient number of residential dwelling units is a fundamental aspect of a thriving New York City (the City) and vital to ensuring shelter, stability, safety and health for New Yorkers; and Whereas, The Department of City Planning estimates the City's population will increase by 783,000 residents, or 9.5 percent between 2010 and 2040; and Whereas, Approximately 67.2 percent of homes and units are renter-occupied compared to 32. 8 percent that are owner occupied, giving New York City one of the largest percentages of renters of any city in the United States; and Whereas, During the COVID-19 pandemic, many renters moved out of the City, raising the vacancy rates; and Whereas, As the rental market began to decline, landlords kept more units vacant while also not making them available to rent, otherwise known as "warehousing" units, to avoid signing long-term leases at discounted rents; and Whereas, Landlords may also warehouse units if it is more beneficial to convert their building to condos or co-ops, or if their retail tenants are already providing sufficient income such that any additional income from renting other units is outweighed by the burdens of finding tenants and ensuring the habitability of the dwelling spaces; and Whereas, Housing advocates have identified the practice of landlords warehousing dwelling units as exacerbating the City's housing crisis; and Whereas, According to the Coalition For The Homeless, the City's homelessness rate has reached the highest levels since the Great Depression of the 1930's with approximately 48,524 homeless people, including 15,087 homeless children, sleeping in the City's main municipal shelter system and a near-record 18,855 single adults in shelters each night in March 2022; and Whereas, A.5988, sponsored by New York State Assemblymember Linda Rosenthal, currently pending in the New York State Assembly, seeks to ensure that every unit of housing that can be made available to New Yorkers is made available by imposing a fee on landlords who have dwelling units that are left vacant for a period of time; and Whereas, A.5988 intends to provide hardworking New Yorkers and their families with an opportunity to find safe, stable and affordable housing; now, therefore, be it Resolved, That the Council of the City of New York calls on the New York State Legislature to pass and the Governor to sign, A.5988, which would impose a fee on landlords who have residential dwelling units which remain vacant for an extended period of time. PM LS #5241 7/7/22 2