Dean Skelos to Vacate Position as Senate Majority Leader (will this affect rent regulation and 421a tax credits) (Florida: real estate, 2015)

[NyWriterdude]

http://www.nytimes.com/2015/05/12/ny...bany.html?_r=0

Skelos was busted on corruption charges by the feds and the Republicans second in command, Libous cannot succeed him due to his own legal battles and cancer. For the Democrats in the assembly Silver was busted and had to vacate his post.

How does this effect NYC?

The rent regulation laws expire by July, as do the 421a tax credits for developers of luxury housing.

Would politicians falling like dominos for accepting bribes (many from the real estate industry) make the state legislature simply to allow those laws and the 421a tax credits to EXPIRE?

[fluttereagle]

Get rid of both 421a and rent stabilization I say. However, I doubt anything will change.

[allpro123]

Originally Posted by fluttereagle

Get rid of both 421a and rent stabilization I say.

Yes please!

[OyCrumbler]

Wasn't there a third man in that room? How come he hasn't followed the other two?

[Airborneguy]

Originally Posted by OyCrumbler

Wasn't there a third man in that room? How come he hasn't followed the other two?

Very soon hopefully, he will be.

[BBMW]

It's the Governor, the State Assembly speaker, and the State Senate Majority Leader.

They haven't caught Cuomo taking bribes, yet.

As far as rent regulation and 421a, with all the mayhem, I would think you'd get a straight renewal as is. No one wants more controversy.

Originally Posted by OyCrumbler

Wasn't there a third man in that room? How come he hasn't followed the other two?

[fluttereagle]

Originally Posted by BBMW

As far as rent regulation and 421a, with all the mayhem, I would think you'd get a straight renewal as is. No one wants more controversy.

Unfortunately you're probably right. These laws are extremely difficult to get rid of once enacted.

Bruno tried to end rent regulation in the late 90's and failed: As Rent Laws' Expiration Approaches, Pataki and Lawmakers See No Progress - NYTimes.com .

[Mr. Ryu]

rent stabilization only for senior citizens.

[BBMW]

They didn't want to end them. The landlord lobby didn't want them to end, they just wanted them weakened, which is what happened. A true free market in apartments in NYC is as terrifying to the landlords as the regulated tenants. Without regulation, the market would loosen up, and they may not be able to get tippy top dollar for open apartments like they can now.

Originally Posted by fluttereagle

Unfortunately you're probably right. These laws are extremely difficult to get rid of once enacted.

Bruno tried to end rent regulation in the late 90's and failed: As Rent Laws' Expiration Approaches, Pataki and Lawmakers See No Progress - NYTimes.com .

[BBMW]

No. Why? Let them move to Florida, and when they need Medicaid, we won't have to pay for it.

Originally Posted by The Ryu

rent stabilization only for senior citizens.