NY A03977

Amends NYC Administrative Code Section 26-511 to establish new tenant relocation and compensation requirements when building demolition is approved under rent stabilization law.

Requires owners seeking demolition approval to submit proof that plans and necessary permits from the Department of Buildings have been obtained, and to file applications at least 90 days before lease expiration.

Defines "demolish" as complete razing of the entire building including all exterior walls to construct a new building with the same or greater number of rental housing units.

Provides tenants with three relocation options: (i) move to equivalent or superior rent-stabilized housing in a proximate area plus $5,000 stipend; (ii) move to higher-rent housing with a 72-month rent difference stipend; or (iii) receive a 72-month stipend based on a demolition stipend chart created by the Division of Housing and Community Renewal.

Takes effect immediately and applies to all tenants in possession on or after the effective date, as well as pending cases and applications.