An early draft of the city's emissions-cutting bill would likely trigger rent increases on rent-stabilized apartments. HuffPost obtained a copy of the draft from a source who requested anonymity because they were not authorized to share the 10-page bill. The original agreement called for mandating “low-cost, energy-saving measures that don’t qualify” as major capital investments for rent-stabilized buildings. “That would lead to rent increases for regulated tenants,” said Ellen Davidson, a housing lawyer at New York’s Legal Aid Society. New York City, where the vast majority of those apartments are located, lost more than 284,000 stabilized units between 1994 and 2016, according to Rent Guidelines Board data cited by the real estate site Curbed New York.

Source: Huffington Post November 02, 2018 22:18 UTC