The owners of the East Village building that blew up in a gas explosion last year were indicted yesterday for involuntary manslaughter. The complaint alleges that they, along with a contractor and plumber, improperly diverted gas from a building next door after illegal hookups in their apartment building were shut off.
A billion here or there and pretty soon you are talking about real money. The City Independent Budget Office this week said last week’s report that paying prevailing wages on affordable housing projects would add 13% to construction costs was wrong. It would really add 23%–or about $4.2 billion to the Mayor’s housing plan.
Another key to the Mayor’s plans, proposals for Mandatory Inclusionary Zoning and Zoning for Housing Quality and Affordability, took a hit at City Council hearings Tuesday and Wednesday. Most of the complaints were that the new “affordable” housing wouldn’t be cheap enough for existing low income residents in the neighborhoods effected. Deputy Mayor Alicia Glen indicated that the administration was willing to negotiate income levels.
Coincidentally, Tuesday, the California State Legislature’s non partisan Legislative Analysts Office issued a report finding that mandatory inclusionary zoning didn’t prevent displacement or keep rents affordable any better than just building more market rate housing. In fact, they concluded, more supply brings down costs. Who would have guessed?
The State Attorney General has posted a new policy statement allowing building owners to test market the idea of a co-op conversion to existing free market tenants and non-tenants…but not to regulated tenants.
Every building in New York City that was burning #6 oil has switched to other fuels, according to the Mayor.
Join us at our February 24th seminar on J51 Rent Stabilization Enforcement Issues and March 1st program on Tax Benefit Housing and Inclusionary Zoning. Both offer CLE credit. Reservations are required.
This week’s BuildingsNY exhibitor focus is on AHC Appliances. Meet them at the Javits Center May 24-25th.