Legislation would extend rent stabilization laws for three years and call on state legislature to strengthen existing laws. On March 2, 2015 the City Council Committee on Housing and Buildings held a public hearing on Intro 685, a proposed law to amend the city’s administrative code and extend New York City’s existing rent stabilization laws. Intro 685 declares the existence of a “housing emergency”, where the city’s vacancy rate drops below 5 percent, and … <Read More>
City Council
Zoning Subcommittee Modifies Special Permit for Broome Street Conversion
Permit will allow Use Group 2 residential on the third through sixth floors only. On March 9, 2015 the City Council Subcommittee on Zoning and Franchises voted to approve a modified special permit for the conversion of 498 Broome Street in the SoHo-Cast Iron Historic District of Manhattan to Use Group 2 residential. The approved permit restricts conversion of the building to Use Group 2 residential for only the third through sixth floors, and leaves … <Read More>
Zoning Subcommittee Approves Partial Rezoning of Fort Hamilton Parkway
Applicant seeks to build a six-story community facility for women’s health. On February 24, 2015 the City Council Subcommittee on Zoning and Franchises approved an application by Fort Hamilton, LLC to rezone the north side of Fort Hamilton Parkway between 53rd Street and 55th Street in Borough Park, Brooklyn. The application rezones the area from its current R5 to an R6 district with a C1-3 overlay, and is intended to facilitate construction of a six-story … <Read More>
Speaker Melissa Mark-Viverito Pledges NYCHA Capital Assistance in State of the City
The Council Speaker announced $250 million for NYCHA and called on Albany to match the funds. On February 11, 2015 City Council Speaker Melissa Mark-Viverito delivered her first State of the City address at the Johnson Community Center in East Harlem. As part of the address’ overall theme to “lift every voice”, the Speaker announced a plan to commit $225 million in capital funding for the New York City Housing Authority to improve conditions in … <Read More>
Public Housing Committee Holds Oversight Hearing on NYCHA Private Investment
NYCHA Chairwoman Shola Olatoye answered questions on the Triboro Preservation Partners agreement. On February 10, 2015 the City Council Committee on Public Housing held an oversight hearing on Triborough Preservation Partners, a public-private agreement between the New York City Housing Authority, L+M Development Partners, and BFC Partners. The venture was designed to rehabilitate six of NYCHA’s Section 8 properties containing nine hundred units: Bronxchester Houses, Saratoga Square, Campos Plaza, Milbank-Frawley, East 4th … <Read More>
City Council Holds Oversight Hearing on 421-a Program
HPD Commissioner Been, others testify on effectiveness of the program. On January 29, 2015 the City Council Committee on Housing and Buildings held an oversight hearing on the 421-a tax benefit program. The program, established in 1971 by the New York State Legislature, was designed to spur residential development of underused land by granting a property tax reduction to developers for a period of ten to twenty-five years, with an objective of increasing affordable housing … <Read More>