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NY S02015

Bill

Official Source

Status

Introduced

1/18/2023

Primary Sponsor

Liz Krueger

Click for details

Origin

Senate

2023-2024 General Assembly

AI Summary

  • Amends NYC Administrative Code Section 26-511 to modify requirements for building owners seeking to refuse lease renewal when a building will be demolished
  • Requires owners to establish to the Division of Housing and Community Renewal that they: (i) intend in good faith to demolish the building and construct a new one; (ii) have obtained a demolition permit from the Department of Buildings and approved plans for the new construction; and (iii) have the financial ability to complete the project
  • Adds a new financial ability requirement that was not previously mandated
  • Takes effect immediately and applies to any proceedings currently pending before the Division of Housing and Community Renewal or appeals from such proceedings
  • Amendment expires on the same date as Section 26-511 itself expires under Section 26-520 of the NYC Administrative Code

Legislative Description

Relates to requirements for a building owner to refuse to renew a lease under the real estate industry stabilization code; requires the owner of a building to be demolished to prove that he or she has the financial ability to complete demolition of the building.

Last Action

REPORTED AND COMMITTED TO CITIES 1

2/12/2024

Committee Referrals

Cities 12/12/2024
Housing, Construction, and Community Development1/3/2024
Cities 15/15/2023
Housing, Construction, and Community Development1/18/2023

Full Bill Text

No bill text available