Council moves to free co-op owners from rent-reg bureaucracy

Certain co-op owners will soon be spared from a law requiring them to register their apartments with the city’s affordable housing portal. The City Council is poised to pass a bill Tuesday that would exempt Housing Development Fund Corporations — income-restricted co-ops that were taken over and repaired by the city starting in the 1970s and then sold to private owners — from a 2018 law that requires owners to market “affordable” apartments on a

source https://therealdeal.com/2020/07/28/council-moves-to-free-co-op-owners-from-rent-reg-bureaucracy/