Statement from Senator Liz Krueger on Ruling in Roberts v. Tishman Speyer Properties

 

“I am not surprised by the decision.  The Court has re-affirmed the clear intent of the legislature.  Building owners who receive large, long term property tax exemptions are obligated to uphold their side of the social contract by keeping their units affordable.  After all, the City is giving up tax payments that would otherwise go towards our schools, police and other critical public services.  Fair is fair.  No owner was obligated to apply for these tax breaks.  I have always submitted that the law was clear in this case.  Thankfully the courts agreed.  A true victory for the continuation of desperately needed affordable housing in New York City.”
 
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