Latest news with #LizKrueger
New York Post
20-05-2025
- Business
- New York Post
Progressive Manhattan lawmakers again push ‘rent control for the rich'
Two progressive Manhattan state lawmakers are back to pushing 'rent control for the rich' to benefit residents of 'Billionaire's Row.' State Sen. Liz Krueger and Assemblywoman Linda Rosenthal tried to sneak this into law last year, losing out only after we called out the injustice. Once again, their proposal applies to roughly 100 co-op buildings, mainly in Manhattan, that sit on land someone else owns; these 'ground leases' are renegotiated every 20 to 30 years and usually result in a rent reset for shareholders. Right now, an arbitration process kicks in when ground owners and co-ops can't agree on a rent reset after the ground lease expires — all as per the original contracts. The Krueger-Rosenthal bill, narrowly approved 10-9 last month by the state Senate Judiciary Committee, would unconstitutionally rewrite those private contracts to limit land-rent hikes to 3% or the Consumer Price Index (whichever is greater). It would also guarantee lease renewals at the same terms for up to 30 years and grant co-op boards right of first refusal if the landowner opts to sell the parcel. As ideological cover, the bill would also force some outer-borough units in land-lease co-op buildings back under the rent laws — decades after they left when the building went co-op. Except that this would force some owners to dig up rent records — from as long as 46 years ago — that the law didn't require them to keep. The two Manhattan progressives are plainly looking to curry favor with a few wealthy constituents who'd see the value of their units skyrocket. Never mind the horrific precedent this would set as the Legislature tears up existing contracts by overriding the terms of agreement. Even if the law eventually got tossed as unconstitutional, it would poison New York's business by proving that the Legislature holds contract rights in complete contempt. If Senate and Assembly leaders don't quash this madness, Gov. Hochul should tee up her veto pen.
Yahoo
19-04-2025
- Health
- Yahoo
Lawmakers revive bill to address the dangers of popular kitchen appliances: 'These things can kill you'
New York lawmakers are bringing back a bill requiring health warning labels on gas stoves, putting consumer safety and air quality front and center, Gothamist reported. If passed, the Healthy Homes Right to Know Act would make New York the first state to mandate these important health notifications. The proposed labels would inform shoppers that gas stoves emit nitrogen dioxide, carbon monoxide, benzene, and formaldehyde, substances that can harm your family's health and contribute to respiratory problems. With roughly 7 in 10 New York City households relying on gas ranges for meal preparation, this information could help millions make better choices for their health. Studies cited in the legislation show that approximately one-fifth of pediatric asthma diagnoses across the state have connections to residential gas cooking appliances. Induction stoves cook faster and cost less to operate than conventional stoves. Switching to an induction stove is an easy solution that eliminates indoor air hazards. If you're not looking to buy a new stove, plug-in induction burners represent great options. They are relatively affordable too, starting at just $50. The Inflation Reduction Act offers up to 30% off the cost of a non-portable induction range through tax credits, but these incentives may not be available forever. President Donald Trump has said he wants to eliminate these subsidies, so acting soon could save you thousands of dollars. Significant changes to the IRA would require an act of Congress, though. State Sen. Liz Krueger, one of the bill's 19 sponsors, explained why this matters, saying: "People are completely having meltdowns about confusion that we're going to take all of their gas and oil away from them and their gas appliances away from them. These things can kill you. We thought that it would be important to at least require printed information that explains to you the risks of gas stoves and the risks of having an exhaust pipe in your kitchen." Dr. Kathleen Nolan, a pediatrician and the president of the New York chapter of Physicians for Social Responsibility, added, "The gas stove in the home is approximately equivalent to having a smoker in the household." Chef Christopher Galarza, who promotes sustainability in food service, dismissed concerns about cooking quality. "The idea that it's somehow going to hinder your creativity and hinder your expression or hinder your cuisine is just not true," he said. "It doesn't matter if you're cooking on a campfire or an induction range. A roast is a roast, a braise is a braise, a sear is a sear, a sauté is a sauté. These things don't change. It's about fundamentals and techniques." Do you think gas stoves should be banned nationwide? No way Let each state decide I'm not sure Definitely Click your choice to see results and speak your mind. Join our free newsletter for easy tips to save more and waste less, and don't miss this cool list of easy ways to help yourself while helping the planet.
Yahoo
07-04-2025
- Business
- Yahoo
Lawmakers propose bold plan to put funds from large corporations to public use: 'Commitment to holding ... companies accountable'
New York is taking bold steps to make big companies pay their fair share for damage to local communities, reported the Shore News Network. A newly introduced bill in the New York State Senate aims to improve the state's ability to recover costs from major energy companies and fund projects that protect New Yorkers from extreme weather. The legislation, S824, sponsored by Senator Liz Krueger, would update several laws to better track company responsibility from 2000 to 2024 and give state agencies more tools to gather information. The Department of Environmental Conservation would get more time to study impacts before sending bills to companies, and new penalties would apply to those who don't pay up. This improved law would directly benefit everyday New Yorkers by funding infrastructure that protects communities from flooding, heat waves, and storms. The money collected would support projects like seawalls, cooling centers, and storm drains — efforts that protect homes and save money on repair costs after disasters. By holding large corporations accountable, the program ensures the costs of adapting to our heating planet don't fall entirely on taxpayers. The bill requires companies to share data about their operations and creates stronger oversight of how money gets spent. Up to 1% of funds would cover administration costs, with the rest going to community protection projects. If passed, these updates would immediately strengthen New York's position as a leader in making sure big companies help pay for community safeguards. The bill "underscores New York's commitment to holding fossil fuel companies accountable for climate-related costs while refining the process for funding and implementing adaptation projects," according to the Shore News Network. The legislation demonstrates how states can create practical financial solutions that protect communities and ensure big corporations contribute to fixing problems they helped create. Extreme weather events are becoming more regular and costly, and this approach creates a sustainable funding stream to help improve defenses and aid in any necessary recovery efforts. Do you think governments should ban gas stoves? Heck yes! Only in new buildings Only in restaurants Heck no! Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Yahoo
24-03-2025
- Business
- Yahoo
NYC ground lease co-op tenants in danger of losing their homes. Here's how to protect yourself from unfair rent hikes
Tenants in New York City's ground lease co-ops are sounding the alarm as they face increasing uncertainty over their homes. At Mainstay Co-op in Flushing, residents own and maintain their building but don't own the land beneath them, leaving them vulnerable to eviction, rent hikes or even demolition. I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Americans with upside-down car loans owe more money than ever before — and drivers can't keep up. Here are 3 ways to cut your monthly costs ASAP A ground lease — which is a long-term lease that gives the tenant permission to build on or improve the leased property — has traditionally offered an affordable path to homeownership. But now, with some leases set to expire in the coming decades, advocates warn that the city's 25,000+ ground lease co-op residents could be priced out of their homes. "We're a neighborhood of middle-class, working class and retired people and we have all of our equity tied up in this building," William Maiman, a longtime resident of Mainstay Co-op told CBS News New York. These New York residents, who've invested years of savings into their homes, are now at risk of losing both their equity and housing stability. Meanwhile, State Senator Liz Krueger is pushing for a bill that would cap rent hikes for ground lease co-op tenants to protect them from landlords taking advantage of expiring leases. The Real Estate Board of New York (REBY) argues that Krueger's potential bill could hurt property values and unfairly favor wealthier homeowners. A statement from REBY reads, in part, '...this bill was bad policy last session when it died, and it's bad policy now.' Some New York real estate lawyers, including Stuart Saft, call it unconstitutional, warning the bill could set a dangerous precedent for other contracts. On the other hand, attorney Jeffrey Mazel — who represents co-op residents — told CBS News New York the bill is crucial, noting that many residents weren't properly informed of the risks when they first purchased their homes. Many of these co-op tenants were shocked to learn of the potential threat to their housing situations. "I've been to meetings. I've seen people cry," Mazel says. For residents like Richard Wechsler of Mainstay Co-op, the situation feels deeply unfair. "Now I've got to pick up and find a new place? That's ridiculous,' he said. 'Why is that fair? That's not fair at all." As the debate over protections for ground lease co-ops continues, the future of thousands of New Yorkers hangs in the balance. Read more: Gold just hit a historic high of $3,000/ounce on Trump's tariff moves — while US stocks got slaughtered. Here's 1 simple way to prevent more pain within minutes As the Mainstay Co-op situation demonstrates, it's critical to do what you can to protect your housing budget and avoid unaffordable rent hikes. One of the first steps is understanding rent regulations in your state. In New York, rent-controlled and rent-stabilized apartments protect against excessive rent hikes. Rent control mostly affects units where tenants — or the tenant's lawful successor — have lived since 1971, while rent stabilization impacts most apartments built before 1974 with six or more units. If you find yourself facing a rent increase, negotiation is key. Start by researching local rent prices to see if the increase is in line with the market. If you've been a reliable tenant and have a good relationship with your landlord, you can try to use this to negotiate. Use online resources such as Brick Underground, which offers tips and email templates to help tenants negotiate with landlords. If you are a senior or a person with disabilities, New York City offers programs like the Senior Citizen Rent Increase Exemption and the Disability Rent Increase Exemption, which freeze rent increases if you're eligible. If you end up in a situation where you feel your tenant rights are being violated, be sure to seek legal assistance. Organizations such as the Legal Aid Society and Legal Services NYC offer free support to tenants. The New York State Division of Housing and Community Renewal also enforces housing laws and can help you understand your rights. Finally, if you can't afford to stay where you are, consider alternative housing options by researching more affordable neighborhoods or different types of housing. To navigate the competitive housing market, you need to stay informed and make use of available resources. Want an extra $1,300,000 when you retire? 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