Relates to requirements for a building owner to refuse to renew a lease under the real estate industry stabilization code; requires the owner of a building to be demolished to prove that he or she has the financial ability to complete demolition of the building.
STATE OF NEW YORK
________________________________________________________________________
6276--A
Cal. No. 182
2023-2024 Regular Sessions
IN ASSEMBLY
April 3, 2023
___________
Introduced by M. of A. L. ROSENTHAL, EPSTEIN, BICHOTTE HERMELYN, BURDICK
-- read once and referred to the Committee on Housing -- reported from
committee, advanced to a third reading, amended and ordered reprinted,
retaining its place on the order of third reading
AN ACT to amend the administrative code of the city of New York, in
relation to requirements for a building owner to refuse to renew a
lease when the building is to be demolished
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subparagraph (a) of paragraph 9 of subdivision c of section
2 26-511 of the administrative code of the city of New York is amended to
3 read as follows:
4 (a) where he or she establishes to the satisfaction of the division of
5 housing and community renewal that he or she: (i) intends in good faith
6 to demolish the building [and] and construct a new building; (ii) has
7 obtained from the department of buildings a permit [therefor from the
8 department of buildings] for such demolition project and approved plans
9 for the new building construction project; and (iii) has the financial
10 ability to complete same; or
11 § 2. This act shall take effect immediately; provided that the amend-
12 ments to subparagraph (a) of paragraph 9 of subdivision c of section
13 26-511 of the administrative code of the city of New York made by
14 section one of this act shall expire on the same date as such section
15 expires and shall not affect the expiration of such section as provided
16 in section 26-520 of such code.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD05597-07-3
