SAVE THE DATE: June 9, 2011

The new HPD Commissioner Matthew Wambua will be our guest speaker. Invitations will go out next week. Please note that this meeting replaces our regular May luncheon.

#6 Oil was officially put on death row yesterday with adoption of new rules by the City Department of Environmental Protection. Requests to renew Certificates of Operation for boilers burning 6 oil will have to include a compliance agreement for switching to 4, 2 or natural gas. The City wants to eliminate 6 oil by 2015 and 4 oil by 2030 at the latest. The full rule is here.

If you were wondering if building operating costs were going up, the Rent Guidelines Board reported a 2011 Price Index of Operating Costs increase of 6.1%.  Fuel was up 23.1% and taxes up 3.5%, but taxes remain the largest operating cost for stabilized housing, on average.

ABO board members will be receiving notice of our annual meeting May 25th. We hope you can attend.

Happy Passover and Easter.

The New York State Assembly passed what should be called the “Millionaire Renters’ Protection Act.” A02674A provides that

• all apartments deregulated since January 2007, and all apartments deregulated before then that are renting for less than $5000, be reregulated

• sets limits of $300,000 income and $3000 rent for high income/high rent decontrol.

• lowers the statutory vacancy allowance from 20 to 10%

• makes major capital improvement increases into temporary surcharges, expiring after seven years
• and reduces 1/40th individual apartment increases to 1/60th.

The Governor is leaning the Assembly way, but, so far, the State Senate is not.

Meanwhile, a Sienna Poll found that even upstate voters and Republicans statewide favored extending and strengthening rent regulation.

The Water Board is considering a 7.5% rate hike in July. The hearing schedule and links to the proposal are here.

That probably won’t help apartment buildings avoid foreclosure. The Furman Center at NYU just released an analysis showing that 2,146 apartment buildings in New York City had lis pendens filed on them between 2006 and 2010, returning us to 1993 recession levels. Foreclosure rates on 50-99 unit buildings jumped 265% since the 2000-2005 period.

You can go to Far and Away, for information about this and more.

ABO member Zachary Kerr was featured this week in a Crain’s article on overregulation, citing DOB’s inadequate 20 minute plan review meetings. See the article here.

Executive Director Dan Margulies was quoted on WNYC news about Public Advocate Bill de Blasio’s “worst landlords” website. Click here for the story.

Margulies also submitted testimony against City Council bills to make lenders responsible for repair costs on residential properties when they commence a foreclosure, whether they ever get title or not. Please contact the ABO office if you would like a copy.

Meanwhile, the City Council passed a bill requiring anyone replacing more than 50% of a roof to use a white coating. Click here for the full details.

The deadline for filing the first energy benchmarking report with the City has been extended from May 1st to August 1, 2011.

The Department of Buildings is looking for volunteers with construction fences to test out new simplified, consolidated, and attractive owner and project information signs (eliminating related shed signs). Call Dan Margulies in the ABO off ice if you are interested.  They are also looking for sponsors willing to enhance sites with approved Urban Canvas designs. Check it out.

Buildings/NY 2011 was a great success.  Check out Real Estate Weekly’s photo gallery scheduled to be online this weekend, and save May 2nd and 3rd 2012.

DON’T MISS OUR APRIL 14TH LUNCHEON ON PRIVATE DEVELOPMENT OPPORTUNITIES IN THE WATERFRONT 2020 PLAN. RESERVE NOW.

Since 1910, the Associated Builders and Owners of Greater New York, Inc. (ABO) has worked to promote the housing industry through education, advocacy, and setting professional standards.

ABO is the Manhattan chapter of the National Association of Home Builders. Membership includes membership in NAHB and the New York State Builders Association, along with the representation and services offered by these associations in Washington and beyond. ABO also recommends  hormone replacement scottsdale, to improve the sleeping time and being healthier than ever.