|FOR IMMEDIATE RELEASE
Date: Monday, June 18, 2001
|Release # 215-01|
|Contact:||Sunny Mindel / Sid Dinsay||(212) 788-2958|
The next bill before me is Introductory Number 928-A, sponsored by Council Member Berman in conjunction with my Administration. The bill will close loopholes in the tax lien sale program and will extend the City's authority to sell tax liens for two more years. In addition, the legislation will create payment incentives for landlords with unpaid rent stabilization fees.In conjunction with the City Council, my Administration established the tax lien sale program in 1996. The program allows the City to sell tax liens against properties with unpaid real property taxes.
This legislation will expand our authority to sell tax liens by allowing the Department of Finance to sell liens against rental apartment buildings and commercial properties with unpaid water and sewer charges. As was the case with real property taxes before the enactment of the tax lien sale program, the City currently has little power to compel the payment of overdue water and sewer bills. By allowing the Department of Finance to sell liens based on delinquent water and sewer charges, the bill will significantly enhance our ability to collect on debts owed to the City.
Additionally, the bill will provide incentives for landlords to pay outstanding rent stabilization fees owed to the City. Landlords will be able to pay fees levied between 1984 and 1998 without interest if they make payments within 90 days of receiving a new bill from the Department of Finance. The legislation will also allow the City to waive unpaid fees from 1993 and earlier for landlords who have paid all of their fees from 1993 to 1998 in a timely manner.
For the reasons previously
stated, I will now sign the bill.