NYC Council · Int 0068-2024 · Filed (End of Session)

A temporary moratorium on third party transfers of real property and a study on the eligibility of transferable property.

Introduced

Moved

Reached a final decision

Introduced Feb 8, 2024

Official status: Filed (End of Session)

Derived from the official record below.

Officially: “A Local Law to amend the administrative code of the city of New York, in relation to a temporary moratorium on third party transfers of real property and a study on the eligibility of transferable property” Read the full text

Finance

What it does

This bill would impose a two-year moratorium on the Department of Housing Preservation and Development’s (HPD) Third Party Transfer program. The bill would also require quarterly reporting in which HPD discloses the properties it has identified as eligible for transfer through the Third Party Transfer program.

Summary written by City Council staff, from the official record. Plain-language AI rewrite with cited sections coming. Not legal advice.