mark levine

affordable housing, Policy

rent stabilization NYC

Image New York – Soho (license)

City councilman Mark Levine announced Wednesday the creation of the Affordable Housing Preservation Taskforce, which will track existing affordable units across the city on the brink of becoming market rate. The task force is the latest in an effort to address the monumental task of preserving the city’s affordable housing.

According to Crain’s NY, the 14-member task force, which will be led by Council Speaker Melissa Mark-Viverito, will work with residents, landlords and nonprofits to identify buildings headed toward market rate rent status. Rent regulation, for example, stipulates that rent can only be raised by a certain percentage each year as set by the New York City Rent Guidelines Board.

More on the new task force

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