Thursday, October 11, 2012

Billionaire Developers Offered Tax Breaks - But No Help for Tenants?

A tax break for billionaires for specific luxury apartment developers in Assembly Bill A.10798 - but  NO protections for tenants. Speaker Silver, what happened to your promise? 

Why does this bill have 

  • NO limits on MCI increases; 
  • NO City Council input into the mayor's Rent Guidelines Board appointments; 
  • NO limits on rent controlled apt. increases; 
  • NO preferential rent limits? 
NBC News: 
Billionaires get 'low income' tax breaks in NYC condo Tower