FOR IMMEDIATE RELEASE
July 1, 2013
MAYOR BLOOMBERG SIGNS LEGISLATION EXTENDING AND REFORMING THE CITY'S J-51 PROGRAM
Remarks by Mayor Michael R. Bloomberg at a Public Hearing on Local Laws
“The fourth bill before me today is Introductory Number 1010-A, sponsored at the request of our Administration by Council Members Recchia, Comrie, Fidler, Koo, Nelson and Gennaro.
“Following State authorization, Introductory Number 1010-A extends and reforms the City’s J-51 Program, the tax benefit program available for the rehabilitation and upgrading of the City’s housing stock. This Program is an important tool for encouraging owners to maintain and rehabilitate their property, while at the same time enabling owners to maintain affordable rents to low and moderate income households.
“Introductory Number 1010-A extends the J-51 Program through June 30, 2015 and enacts several important reforms to ensure benefits are targeted to the rehabilitation of New York City’s rental housing stock and those projects providing affordable housing. Intro 1010-A also amends the program to assist in streamlining the application process.
“I would like to thank HPD Commissioner Matthew Wambua and his staff for their work on this bill along with my Office of City Legislative Affairs. I would also like to thank the City Council for approving this legislation.”
Marc LaVorgna/Evelyn Erskine (212) 788-2958
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