The Real Deal New York

Mitchell-Lama bill unlikely to pass

June 18, 2007 12:00AM

A law that would place a moratorium on buyouts of Mitchell-Lama properties throughout New York State will be introduced in the State Senate this week, but sources say there is little chance it will pass the Legislature. The bill, co-sponsored by Sens. Liz Kruger (D-Upper East Side) and Thomas Duane (D-Chelsea), is currently pending before the Senate’s Housing and Finance Committees. Negotiations are pending for an Assembly sponsor for the law, but it is increasingly unlikely one will be found and that the bill will be passed before legislators go home on Friday night. The bill is likely to be the second Mitchell-Lama protection law proposed in the Legislature this month that fails to gather steam. more By John Celock

Comments are closed.

MENU
Welcome to TRData
TRData is a new site focused on research, currently in development by The Real Deal, New York City’s largest real estate publisher.
Click here for more information about the site