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 such owner has the financial ability to complete demolition of the building.
STATE OF NEW YORK
________________________________________________________________________
2134--A
2025-2026 Regular Sessions
IN SENATE
January 15, 2025
___________
Introduced by Sens. KRUEGER, JACKSON -- read twice and ordered printed,
and when printed to be committed to the Committee on Housing,
Construction and Community Development -- reported favorably from said
committee and committed to the Committee on Cities 1 -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee
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] such owner establishes to the satisfaction of
5 the division of housing and community renewal that such owner: (i)
6 intends in good faith to demolish the building and construct a new
7 building; (ii) has obtained from the department of buildings a permit
8 [therefor from the department of buildings] for such demolition project
9 and has submitted plans for the construction of a new building to the
10 department of buildings for approval; and (iii) has the financial abili-
11 ty to complete such demolition and construction; or
12 § 2. This act shall take effect immediately; provided that the amend-
13 ments to subparagraph (a) of paragraph 9 of subdivision c of section
14 26-511 of the administrative code of the city of New York made by
15 section one of this act shall expire on the same date as such section
16 expires and shall not affect the expiration of such section as provided
17 in section 26-520 of such code.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD04702-03-5
