Loft Board votes on Interim Rent Guidelines?

We have reason to believe that the Loft Board will vote Thursday on the Interim Rent Guidelines, despite very little understanding of the rule or its effects.

This Thursday December 8 at 2pm, please come to 22 Reade St. and show them we are watching.

Because we did not feel the real effects of this rule had been considered, NYCLT has requested to testify on the proposed rule. Our letter to Loft Board Chairman Robert LiMandri is below.

Dear Mr. LiMandri,

I am writing you on behalf of New York City Loft Tenants – NYCLT, a coalition of tenants affected by the 2010 expansion of the Loft Law. We respectfully request the opportunity to testify December 8 on the proposed 2-06 Interim Rent Guidelines.

The Loft Law promises to make illegal conversions legal and safe, and yet Rule 2-06 threatens to reduce the number of buildings covered.

2-06 affects two very different groups of tenants: those who signed expensive leases during the boom years before 2007, and tenants living in poorly maintained buildings. Landlords with high-paying tenants have plenty of incentive to register their buildings, and they are doing so. However, in poorly maintained buildings it is tenants that will take the initiative to apply, and they will not if the Law is just going to price them out.

This observation comes from our feet-on-the-ground experience organizing tenants. We would like to give a short 10 minute talk about what is known and unknown about the effects of the proposed increases. We request this to be followed by questions from the Board.

Please allow us to present what we know on Thursday.
Thank you
NYCLT

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