By Sabina Mollot
It wasn’t quite the climactic end to another four years tenants were hoping for when at midnight on June 15, the laws regulating rents in New York expired without being renewed or strengthened.
The following morning, the talks continued in Albany, though there was no sign that that they’d be concluded any time soon.
Part of the reason was that Governor Andrew Cuomo has been hoping to include the passage of an education tax credit in the negotiations, while Senate Republicans also last week passed a set of rent regulation legislation that’s wildly different from the package the Assembly passed in May. The much hyped 421-a tax abatement for developers who include some affordable housing in their projects has also been a factor, but hasn’t been given as much attention as it was expected to get, according to State Senator Brad Hoylman.
Hoylman described the tax program, which also expired on Monday, as being “radioactive” to many of his colleagues because of its being “at the heart of the investigations” into corruption in Albany by U.S. attorney Preet Bharara.
“It’s understandable that it wouldn’t be a front burner issue,” said Hoylman, adding he wouldn’t be mourning the program’s loss if it isn’t ultimately renewed and that he thinks it ought to be negotiated separately.