“As longtime homeownership advocates, we see everyday how exorbitant rents prevent aspiring homeowners from saving for a down payment, keeping the goal of ownership just out of reach for thousands…
“It is easy to romanticize Mitchell-Lama as it existed decades ago, when maintenance increases were rare and expensive infrastructure replacements were uncommon. But those memories reflect the realities of the…
Local Law 97 is one of the most ambitious—and divisive—climate measures enacted in any U.S. city. While some co-op boards see the mandate as an opportunity to make sustainable upgrades…
“Dissolving our building’s Mitchell-Lama status would be a small but significant injustice in an already deeply unequal city. Shareholders who have long benefitted from the program would be autonomously divesting…
‘We’re cosponsoring legislation that will reform the Cooperative / Condominium Property Tax Abatement by ending tax breaks for luxury owners who don’t need them.’
Income-restricted cooperatives comprise some 30,000 apartments in more than 1,300 formerly abandoned or distressed multi-family buildings. The city’s proposed regulations to stabilize this key affordable-housing stock have met with opposition—some…