Dear New Yorkers,
‘Tis the season for raucous debate over rent.
Starting this morning — and lasting most of the day — the Rent Guidelines Board will hear from an invited list of landlords and tenants in a public meeting ahead of its much-anticipated preliminary vote, scheduled for Tuesday, May 2.
Why does that upcoming vote matter so much? Because it’s where the nine-person board gives its first estimate for allowed rent increases for the city’s 1,006,000 rent-regulated apartments — a figure nearly equal to New York’s total number of unregulated, market-rate apartments.
As the city’s affordability crisis worsens, the RGB’s decision is set to be as tense as ever in 2023. Ahead of the springtime rent ritual, THE CITY wrote a guide on how the board works and how they set the price on your next lease.
Want to attend today’s rent board meeting? It starts in person at 9:30 a.m. at the Municipal Building in Manhattan (1 Centre St., 9th Fl.), or you can stream it on the RGB’s YouTube channel.
Some other items of note: - Mayor Eric Adams unveiled a nearly $107 billion executive budget on Wednesday — drawing fire both from City Council leaders who want to spend more and fiscal watchdogs pointing to multi-billion-dollar gaps in future years. Read our analysis on the ledger, including how Adams is exempting the city’s libraries from a recent order to slash spending by up to 4%.
- Just days after it announced it was moving forward with the demotion of the Manhattan Detention Center in Chinatown — better known to some as The Tombs — the Adams administration is now holding back on that plan… for two weeks.
- Mount Sinai is moving ahead with raises for non-union medical residents at its main hospital on the Upper East Side. But its unionized medical residents on the West Side and in Queens still make thousands of dollars less than their counterparts across Central Park. Doctors in the union rallied this week to pressure the hospital system to address the disparity. Here’s what they had to say.
- New Yorkers have until May 31 to submit the names of loved ones to MISSING THEM, THE CITY’s COVID-19 memorial project: Send a note to memorial@thecity.nyc. May 31 is also the last day to see the MISSING THEM photo exhibit in The Bronx and Queens.
- See how New York City is doing with our newsroom’s economic recovery tracker.
- For the latest local numbers on COVID-19 hospitalizations, positivity rates and more, check our coronavirus tracker.
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