Commercial Rent Reform: NYC Needs More Jobs, All Funded By Greed
BY DONATHAN SALKALN
As Chelsea fights for some sort of commercial rent control, images come to my mind: the arrests and even hand-cuffing of local activists and elected officials in Albany, while fighting threats of 6% or 7% hikes of NYC apartment rent control laws. But when a business owner gets a rent increase of 600% or 700%, they're kicked out into the street, followed by unsold inventory.
The latest version of the 'Small Business Survival Act' needs a kicker, such as: If the landlord doesn't agree to limiting the commercial rent cap of 35% or some comparable amount, over 5 years, the landlord would have to pay the fees of arbitration, which would fund new bureaucracy of more jobs, all funded by greed. Big business renters are already get tax breaks for keeping their jobs in New York. It's time for New York to give more respect to small business owners. Maybe the construction of a new big box goverment building.
At a recent CRDC forum called 'The Death & Rebirth of NYC’s Mom-and-Pops,' directed by the club's Judy Richheimer, Attorney Steven M. Barrison detailed arbitration advantages of the "The Small Business Jobs Survival Act." Forms of the proposed law have been pushed around the NY City Counsel for so many years that some call it dusty. Attendees at the CRDC forum didn't feel the same way, venting their rage of the continued loss of beloved and much needed local businesses. That story is at:
Posted on Fri, November 25, 2016
by Donathan Salkaln