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REBNY and Civic Leaders Oppose Commercial Rent Control Measures
In advance of the City Council’s Sept. 17 hearing on its commercial rent control proposals, a broad coalition voiced strong opposition to the Council’s proposals and proposed several alternative policy approaches to address challenges facing small businesses citywide.
The coalition includes the Queens Chamber of Commerce, New Bronx Chamber of Commerce, Grand Central Partnership, East Midtown Partnership, Council of New York Cooperatives and Condominiums, Real Estate Board of New York (REBNY), Community Housing Improvement Program and Building Owners & Managers Association of Greater New York.
“The COVID pandemic has hurt small businesses and property owners alike,” said REBNY president James Whelan. “Yet many property owners have made it a priority to work with struggling commercial tenants throughout the pandemic. It is important for city officials to take greater steps to support small businesses. Commercial rent control is not the way to do it, though.”
- ◦Lease
- ◦Economy
- ◦Policy/Gov't
