State Budget Still Not Passed + Rent Guidelines Board Approves Another Rent Hike
No. 425 | Monday, May 5, 2025
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Local News
The state budget, which was due April 1st, is still not finished, making it the latest that the process has dragged on since 2010.
The Rent Guidelines Board voted to allow rent increases of up to 4.75% on one-year leases for rent-stabilized tenants, and up to 7.75% on two-year deals. The vote was preliminary, and a final number within those ranges is expected to be approved by the board in the next two months. This would mark the fourth year in a row that they approved rent hikes.
Mayor Eric Adams released his preliminary city budget, which he personally dubbed the “best budget ever.” It includes additional funding for after-school programs, and hiring enough teachers to comply with the city’s class size law.
The New York City Charter Revision Commission is working on proposals to address the city’s housing crisis, which may be on the ballot in November’s general election.
Mayor Adams announced a new program to allow 500 bodegas to install “panic buttons” that contact the nearest NYPD precinct.
Election News
Radio host Frank Morano won the special election on Staten Island to fill the remainder of Joe Borelli’s City Council term, one of the few council seats held by Republicans.
After beginning to air television ads last month, DSA-backed mayoral candidate Zohran Mamdani held the first major rally of the campaign yesterday in Williamsburg.
City Council Member and candidate for Comptroller Justin Brannan (Bay Ridge) announced a new plan to help city small businesses.
Several mayoral candidates are pushing for the city to take control of the subway system from the state.
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