Rent Board Recommends 2 and 4 Percent Increases
The Associated Press
The New York City Rent Guidelines Board has proposed rent increases of 2 percent for one-year leases and 4 percent for two-year leases for rent-stabilized apartments.
The nine-member board of mayoral appointees voted Monday on the proposed increases, which would affect leases up for renewal between Oct. 1, 2002 and Sept. 30, 2003.
The meeting, at the United States Custom House at Bowling Green, was attended by about 100 people, including tenants' advocates who voiced objections to the proposal.
The recommendations are subject to a public hearing followed by a final vote, but the board's initial proposal is traditionally adopted.
Unlike former Mayor Rudolph Giuliani, who had sought to influence the board's annual decision, Michael Bloomberg said last month that he would wait to see what was proposed.
Last year, Giuliani replaced the board's chairman and appointed two other new members before the final vote.
Associated Press Story from Newsday