Close Menu
    Trending
    • NY City Council Tees Up SCRIE, DRIE Expansion
    • Borough Developers Buys Site for 99-Unit DoBro Buildings
    • Former Hudson Yards Hotel Sold in Foreclosure Auction
    • More Details Emerge for Jacob Schwimmer’s LIC Development
    • How New York Steered Four Buildings to a Nonprofit Buyer
    • The Stellbergers, the Duo Behind Happier Grocery, Explained
    • Former Disney CEO Buys Sherry-Netherland Co-op For $10M
    • Acore Capital Takes Control of Beacon Capital’s NYC Properties
    WorldEstateUSA
    • Home
    • Real Estate
    • Real Estate News
    • Real Estate Analysis
    • House Flipping
    • Property Investment
    WorldEstateUSA
    Home»Real Estate News»NY City Council Tees Up SCRIE, DRIE Expansion

    NY City Council Tees Up SCRIE, DRIE Expansion

    Team_WorldEstateUSABy Team_WorldEstateUSASeptember 18, 2026No Comments4 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    A broadly common program that freezes rents for senior and disabled tenants by offering property tax credit to landlords is more likely to cowl extra candidates, after the Metropolis Council voiced broad help for payments that will increase renters’ revenue limits to $75,000.

    At a Friday listening to lawmakers mentioned proposed modifications to Senior Citizen and Incapacity Lease Improve Exemptions, two packages they framed as a mutual profit that extra tenants and homeowners needs to be using. The enlargement of this system, half of a bigger bundle of housing payments, is more likely to cross at an upcoming acknowledged assembly of Metropolis Council, although no date has been set to vote on them but.

    Officers from the Mamdani administration’s Finance Division testified in help of most laws tied to rolling out the upper ceiling at an oversight listening to held by a joint panel of lawmakers on committees for finance, disabilities and getting older. On the listening to lawmakers additionally questioned officers about tips on how to get extra eligible New Yorkers to make use of the packages.

    Greater limits on revenue eligibility for SCRIE and DRIE, together with the Senior Citizen and Disabled Householders’ Exemptions, acquired state approval in Could, leaving New York Metropolis lawmakers to approve their implementation. The laws launched by Council member Farah Louis would increase the revenue eligibility threshold for the primary time in more than a decade, making use of retroactively to July 1 for SCRIE and DRIE advantages.

    The modifications are largely supported by rent-stabilized landlords. “Lots of our members serve senior residents and folks with disabilities who depend on SCRIE and DRIE to stay stably housed,” Irak Chehonski-Rivas, metropolis coverage director on the New York State Affiliation for Reasonably priced Housing, stated. “We additionally urge that the reforms be paired with ample company staffing and assets so eligible New Yorkers aren’t left ready for aid they already qualify for.”

    Kenny Burgos of the New York Condominium Affiliation, which represents rent-stabilized landlords, additionally expressed help for increasing SCRIE and DRIE when Gov. Kathy Hochul introduced her intention to extend revenue eligibility in January. 

    Casting a wider web

    Outreach and training on SCRIE and DRIE comprised the majority of the questions from the Council panel. Particularly, they requested DOF Deputy Commissioner Jeffrey Shear to clarify what the company is doing to ensure the expanded universe of eligible tenants and owners reap the benefits of the advantages. 

    SCRIE was first established by the Metropolis Council in 1970 and was later broadened to incorporate further housing varieties, whereas DRIE was created in a 2005 enlargement. The final time the revenue restrict elevated in 2015, it was set at $50,000, the place it at present sits till Metropolis Council implements the state’s enlargement. However 57 p.c of New Yorkers already eligible for SCRIE and DRIE nonetheless aren’t enrolled, Jean Stevens, director of the Advantages Regulation Venture at Volunteers of Authorized Service, stated throughout her testimony.

    Shear informed the panel that SCRIE and DRIE lease freeze packages, beforehand capped at an revenue eligibility threshold of $50,000, supplied advantages to 67,677 households in 2024 via SCRIE and DRIE packages administered by DOF, in addition to Mitchell-Lama family packages administered by the Division of Housing Preservation and Improvement. 

    Lee famous that the price of elevating the eligibility thresholds within the state price range was $44 million to be spent over a number of years, which Shear broke down as 82 p.c attributable to SCRIE and 18 p.c to DRIE.

    Enrollment efforts

    Comparatively low enrollment within the incapacity lease freeze program in comparison with senior advantages signifies that this system isn’t reaching the individuals it was constructed for, stated Council member Shahana Hanif, chair of the committee on disabilities. 

    “A working-age tenant with a incapacity is unlikely to see themselves in outreach constructed round older grownup facilities and mailings to seniors,” Hanif stated. “When a profit is bundled below a heading that doesn’t describe you, you don’t apply for it.” 

    The necessity for separate purposes relying on the kind of housing was additionally a typical concern amongst lawmakers. Council member Chris Marte, for instance, cited potential confusion for tenants and the necessity for a centralized portal that permits them to use and renew advantages simply. 

    Lawmakers additionally pushed for auto-renewal, pointing to difficulties recipients could have recertifying their advantages after their lease expires.

    Merging the 2 purposes right into a common type and on-line system for all households throughout varieties would require substantial technical and operational upgrades, plus coordination between DOF and HPD, Shear stated in his testimony.

    Learn extra

    The Daily Dirt: Landlords, tenants missing benefits


    New York City Council member Farah Louis and New York City Department of Finance Commissioner Richard Lee

    Policy Pro: City rejects buyer protections for pied-à-terre tax, Council seeks rental benefit boost


    Gov. Kathy Hochul

    Hochul wants to exempt housing projects from environmental review, punish bad landlords 






    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleBorough Developers Buys Site for 99-Unit DoBro Buildings
    Team_WorldEstateUSA
    • Website

    Related Posts

    Former Hudson Yards Hotel Sold in Foreclosure Auction

    September 18, 2026

    How New York Steered Four Buildings to a Nonprofit Buyer

    September 18, 2026

    Former Disney CEO Buys Sherry-Netherland Co-op For $10M

    September 17, 2026
    Add A Comment
    Leave A Reply Cancel Reply

    Top Posts

    Charter School Replaces Ex-Catholic Academy in Sunset Park

    August 31, 20260 Views

    NYC Developer in Hot Pursuit of Albany Data Center

    June 30, 20260 Views

    Manhattan’s Lux Market Tumbles Ahead of Labor Day Weekend

    September 8, 20260 Views

    Cobble Hill Townhouses Top Brooklyn’s Luxury Market

    June 16, 20260 Views

    New York Top Real Estate Deals: Thursday, July 3

    July 3, 20260 Views
    Categories
    • Property Investment
    • Real Estate Analysis
    • Real Estate News
    Most Popular

    5 Types of Mobile Homes Investors Should Avoid Buying

    December 10, 202524 Views

    8 Affordable Housing Markets That are Likely to Boom Soon

    December 4, 202515 Views

    5 Systems Every Rookie Investor Needs for Faster Rehabs and Bigger Profits

    March 5, 202614 Views
    Our Picks

    Has the office-to-Resi Crackdown Arrived?

    August 2, 2026

    Pfizer Building Conversion Hit with DOB Violations

    July 7, 2026

    New York Top Real Estate Deals: Friday, Aug. 14, 2026

    August 15, 2026
    Categories
    • Property Investment
    • Real Estate Analysis
    • Real Estate News
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • About us
    • Contact us
    Copyright © 2025 Worldestateusa.com All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.