NYC Council · Int 0121-2024 · Filed (End of Session)

Requiring housing developers that receive public financing to assume financial responsibility for repairs required within 10 years of construction.

Introduced

Moved

Reached a final decision

Introduced Feb 28, 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 requiring housing developers that receive public financing to assume financial responsibility for repairs required within 10 years of construction” Read the full text

Housing and Buildings

What it does

This bill would require developers to assume financial responsibility for home repairs required within 10 years of the completion of construction if the homeownership development project was funded or subsidized with municipal funds.

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