Fort Green/Clinton Hill Assemblymember Walter Mosley today said his legislative New Years resolution is to renew and strengthen rent regulation laws that affect hundreds of thousands of units under rent stabilization and control guidelines.
The current guidelines fro rent controlled apartments with more than six units is set to expire in June 2015, and if not renewed will see all apartments rented at market rate.
Also set to expire are tax abatement programs such as the 421a program, which allows developers tax breaks if the build apartments that are at least 80 market rate and 20 percent affordable. Mosley noted this abatement was passed in the 1970s to encourage developers to invest in the then blighted city, but with gentrification the break should include a larger affordable percentage.
“Given what’s happening in the city between the haves and have nots, we have to all keep our eyes on the prizes,” said Mosley.
Mosley noted that in the past these affordable housing laws have been given three-year extensions in the past. It they aren’t strengthened they should be given a two-year extension when hopefully the Democrats will take back the senate, he said.
