Stop Collecting Retroactive MCI Increases If Tenants Appeal

Several new and re-elected state senators have made eliminating rent increases tied to major capital improvements (MCIs) important parts of their housing agenda. Last year, State Senator Mike Gianaris and Assemblyman Brian Barnwell introduced a bill in their respective chambers that would repeal the MCI program and instead provide building owners with tax credits to offset the costs of upgrades. Also, Governor Andrew Cuomo announced in his State of the State address that he would seek to at least “limit” the increases.

Full Article Access:

Full access to complete articles from New York Apartment Law Insider is for subscribers only.

Not yet ready to subscribe?