New York A00887 sets the rent for Mitchell-Lama developments in cities with a population of one million or more to the last authorized rent before.

New York A00887 amends the private housing finance law to establish that in cities with a population of one million or more, the rent for Mitchell-Lama developments following the dissolution date will be the last rent authorized for the affected dwelling. This change applies to housing units in developments that were operated as rental developments before dissolution and are subject to rent stabilization laws after dissolution. The bill takes effect immediately.

New York A00887 sets the rent for Mitchell-Lama developments in cities with a population of one million or more to the last authorized rent before.

New York A00887 amends the private housing finance law to establish that in cities with a population of one million or more, the rent for Mitchell-Lama developments following the dissolution date will be the last rent authorized for the affected dwelling. This change applies to housing units in developments that were operated as rental developments before dissolution and are subject to rent stabilization laws after dissolution. The bill takes effect immediately.