Rockaway homes that were damaged in the storm

From the January issue: More than two months after Hurricane Sandy hit New York, thousands of outer-borough residents are still reeling from storm damage to their homes and businesses. And while homeowners are no doubt tapping into their own bank accounts to deal with the aftermath of the storm, elected officials in New York City and State are using government levers in an attempt to relieve some of the financial burden for them. Last month, Mayor Michael Bloomberg signed legislation extending property tax payment deadlines from Jan. 1 to April 1 for an estimated 3,000 impacted property owners. In another measure (this one requiring Albany approval), Bloomberg proposed property tax reimbursements for taxes already paid on severely damaged buildings in the current tax year. The reimbursements would be designed to more accurately reflect the current value of the properties and would average about $794 for each of the roughly 900 qualifying property owners, according to his office. [more]

Gov. Andrew Cuomo

In his 2013 State of the State address, Governor Andrew Cuomo withdrew his support for a New York casino he had previously championed, and is now eyeing locations north of the city, Crain’s reported. In his 2012 speech, Cuomo discussed plans to build a $4 billion convention center in Queens next to the Aqueduct racino, which seemed likely to be the first sanctioned casino in the city. But this year, he said that city casinos would thwart the state’s goal of luring city tourists to destinations upstate. “It was kind of a 180,” said state Sen. John Bonacic, a Hudson Valley legislator who chairs his chamber’s Racing, Gaming and Wagering Committee, and was pleased by the announcement. Cuomo backed plans to build three casinos upstate in economically depressed regions, and experts say the plan will help the governor receive more concessions from upstate casino bidders who won’t be threatened by city competition…. [more]

Sheldon Silver

For the last year Assembly Speaker Sheldon Silver has been one of the largest obstacles to a casino opening in New York City. According to the New York Daily News, Silver has softened his stance on gambling in the city, but still won’t stand for one in Manhattan. Acknowledging the revenue generating potential of such an attraction, a source close to Silver said the speaker is open to allowing a casino in a destination area rather than in densely populated parts of the city. [more]

Assembly Speaker Sheldon Silver doesn’t want casinos in New York City

Though budget issues have forced several New York politicians, including Governor Andrew Cuomo, to seriously consider allowing casinos in the city, Assembly Speaker Sheldon Silver said he strongly opposes it, the New York Daily News reported.

Silver does support gambling in resort areas like the Catskills and Saratoga Springs, yet is wary of “people going out for lunch during work and losing a week’s pay or a month’s pay.”

But bringing casinos to the city would produce both revenue from tourists and locals that pour some $5 blllion into gambling sites at Atlantic City and Foxwoods…. [more]

Late-night construction at the Brooklyn Bridge site has been too loud for residents at the Southbridge Towers at 90 Beekman Street in Lower Manhattan, New York Assembly Speaker Sheldon Silver told city officials last week. He wrote a letter to Janette Sadik-Khan, Department of Transportation Commissioner, asking her to intervene because the DOT has admitted in the past that the noise exceeds its own codes. He wrote that the worst noise occurs between 11 p.m. and 5 a.m. when residents are trying to sleep.

Silver suggested that the city use noise-dampening devices on the heavy equipment, and also asked that the city look to install sound barriers in the apartments most affected by the construction. … [more]

There’s less than a week left before the state’s rent regulation laws expire, and according the Post, Albany lawmakers are still so far from reaching an agreement that they’ve begun considering a short-term extension that would buy them some time to continue negotiating. The current laws, which expire June 15, govern the prices on approximately 1.1 million rental apartments in the city. Gov. Cuomo and Assembly Speaker Sheldon Silver have been pushing to expand tenant protections, while Senate Majority Leader Dean Skelos is advocating for a more landlord-friendly plan that sticks to the status quo. … [more]

As next week’s expiration of the state’s rent regulation laws approaches, a new state-sponsored report has revealed that nearly two-thirds of New York City’s 2 million rental apartments still enjoy regulated rental rates. According to the Post, the report, by Comptroller Thomas DiNapoli, found 1.4 million rental apartments to be either rent-stabilized, publicly-owned or taxpayer-subsidized — and that’s after the roughly 10,000 units that have been deregulated over the course of the last decade. The impending June 15 deadline for rent regulation to be renewed is threatening some 1 million New York City apartments as lawmakers, tenant advocates and landlords try to hammer out an agreement on income and monthly rent thresholds for decontrol.
… [more]

An agreement struck today could prove crucial in ensuring existing Battery Park City residents can continue to afford their homes. According to Crain’s, the Battery Park City Authority, the public agency that manages the neighborhood, voted to pass a two-month old proposal to cut monthly ground rents for condominium owners in 11 buildings by $279 million over the next 30 years. Established in the mid-1980s, ground rents force owners to pay rent on the ground upon which their building stands and costs were scheduled to more than double over the next few years, and total $804 million through 2042…. [more]

The State Assembly has passed a bill to extend and bolster the city’s rent regulation laws through 2016, Speaker Sheldon Silver’s office announced yesterday evening. The bill would repeal vacancy decontrol, which allows landlords to deregulate apartments when they become vacant or when the rent tips above $2,000 monthly. It would also raise the thresholds at which landlords can deregulate apartments based on tenants’ income. Landlords can currently begin charging market-rate rents when a tenant makes more than $175,000 per year and pays at least $2,000 in monthly rent; under the new rules, those limits would be increased to $300,000 and $3,000. TRD… [more]

New York Governor Andrew Cuomo wants to extend state rent laws that include rent-stabilization provisions on more than one million units across the city, according to the Wall Street Journal. The current law doesn’t expire until June 15, but he hopes to secure an extension with the April 1 state budget submission. Extending rent rules is typically a hot button issue in the state legislature and for landlords and tenants across the city. Republican pressure helped relax the rent-stabilization laws in recent years, and more than 300,000 units have been deregulated since 1993…. [more]