Amazon announced, Thursday, that it was withdrawing plans for HQ2 in Long Island City due to local political opposition.
The preliminary New York City budget for 2020 anticipates a 6% increase in property taxes generally and more than a 10% increase in billable assessments on class 2 apartments.
In a side note that might be of interest to owners preparing tax appeals in Ossining, which just adopted rent stabilization, or other ETPA communities, the 2020 City Department of Finance assessment guidelines suggest that the median outer-borough rent stabilized pre-1974 apartment building is worth about 22% less than a comparable unregulated building.
The City Council, Wednesday, passed a bill that requires owners to absolutely correct mold, mildew and indoor allergen conditions, amending last year’s law that simply called for owners to take “reasonable measures” to correct the conditions.
Councilman Keith Powers introduced two bills, Wednesday, that would limit security deposits and brokers fees to one month’s rent. Both bills are brief. Read literally, it seems that the broker’s fee bill would limit the total of commissions and fees for, say, credit applications, to the value of one month’s rent.
The development of 9000 apartments, plus millions of square feet of office and retail space at the former Pilgrim Psychiatric Hospital in Brentwood is being stalled by the unprecedented failure of a Suffolk County Legislature committee to approve a sewer connection. The developer is suing.
The Oregon State Senate, Tuesday, approved a statewide rent control bill limiting annual rent increases to 7% plus the change in the consumer price index. It now goes to the State House of Representatives, which also has a Democratic majority.