Bill > S02015

This bill amends the Administrative Code of the City of New York to modify the requirements for a building owner to refuse to renew a lease when the building is to be demolished. Specifically, the bill requires the building owner to establish to the satisfaction of the Division of Housing and Community Renewal that they intend to demolish the building and construct a new building, have obtained the necessary demolition and construction permits, and have the financial ability to complete the project. The bill also provides that the amendments made by this act will expire on the same date as the underlying law.