Saturday, June 13, 2015

NY Times: Cuomo's Housing Game

Governor Cuomo is playing games with the homes and lives of more than 2.5 million tenants, writes Ginia Bellafante in the NY Times.

Excerpts:   
The disenchanted hung banners around the capital designating Mr. Cuomo “Governor Glenwood,” a reference to the real estate empire that has poured millions into state politics and reaped the benefits of a tax program — the controversial 421-a — also set to expire on Monday in the absence of an extension.

. . . . “Moving the threshold a few hundred dollars isn’t going to help us at all,” Delsenia Glover, campaign manager for the Alliance for Tenant Power, said. In 2011, even as the threshold was raised $500 to $2,500, she said, 35,000 units vanished from regulatory control. And since then, rents have only grown in New York.