Bill > A00887

This bill addresses rent regulations for Mitchell-Lama housing developments in cities with a population of one million or more, specifically New York City. It establishes that when a Mitchell-Lama housing development (referred to as an "affected development") is dissolved or reconstituted, the rent for the affected dwelling units will remain at the last authorized rent level before dissolution. This means that tenants' rents will be "frozen" at their previous rate and will not be subject to typical rent adjustment mechanisms under New York City's rent stabilization laws or the Emergency Tenant Protection Act. The bill defines several key terms, including "affected development" (rental housing previously operated under specific housing laws), "affected dwelling unit" (housing units within such a development), and "dissolution date" (the date the housing company is dissolved or restructured). The primary purpose appears to be protecting tenants from potential significant rent increases when a Mitchell-Lama development transitions out of its original affordable housing status, ensuring rent stability for residents in these specific housing developments.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/A887