Velazquez on NYS Housing Deal

Washington, DC –Rep. Nydia M. Velázquez (D-NY) commented today on the housing deal reached by state lawmakers in Albany:

"This agreement contains significant, meaningful changes that will greatly benefit the lives of New York City and New York State tenants. For too long, renters in our city and state have seen protections meant to make housing affordable chipped away and this historic agreement would finally begin reversing that tide. This deal takes on many of the issues I hear about daily from constituents throughout my district from Cypress Hills to Bushwick to the Lower East Side.

"Importantly, this plan would end provisions like vacancy decontrol, which have collectively resulted in more than 300,000 units being removed from rent stabilization. The rent increase cap in New York City would be reduced from six percent to two percent and the deal would address concerns with preferential rent related to lease renewals. It would take important steps to reduce irresponsible speculative actions in real estate and it would curb tenant harassment.

"Notably, these regulations would not sunset, meaning renters could count on these protections providing stability and affordability for the long term.

"I want to applaud all Democrats in Albany who worked together to achieve this deal and I look forward to seeing Governor Cuomo sign it into law.

"When it comes to affordable housing, I've always said we must work together at all levels of government to achieve progress. Looking ahead, I'll continue fighting at the federal level to protect tenants' rights, to hold landlords accountable and to secure greater investment in our nation's public housing system. For now, the agreement announced today is a major step forward for our city and our state."

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