Luke Henry today condemned the 5-4 vote of the Rent Guidelines Board (RGB) to authorize the largest rent increases in New York City in nearly two decades.
"With rent increases for the entire city determined by an unaccountable body, it isn't surprising that the outcome did not fairly reflect the interest of the public," said Luke Henry. "This vote highlights the need for City Council oversight of Mayoral appointments, increased representation of tenant interests, expanded qualifications for public members, and a fairer methodology to determine rent adjustments."
The lack of oversight over the RGB emblemizes the culture of legislative neglect that Assembly Speaker Sheldon Silver has cultivated during his 32 years in Albany. It is impossible that the RGB carefully considered all the factors available in order to properly base a rent adjustment determination, as the board received a 22-page memo outlining the proposed increases at 9 a.m. the morning of the vote.
The 2008 RGB Income and Expense Study indicated that median rental incomes have increased while the median operating costs have decreased. The RGB yielded to the interests of landlords without taking statistical realities into account and without providing convincing justification for its determination.
Henry called for swift adoption of the Rent Board Reform Bill (S.8235/A.11097), legislation that would require the RGB to consider income and expense data in determining rent adjustments.
For more information, please contact Kate Tomassi at (646) 408-4452, press@lukehenry.org.
