Creation of regulatory agreements with community land trusts.

A Local Law to amend the administrative code of the city of New York, in relation to the creation of regulatory agreements with community land trusts

This bill would require the Department of Housing & Buildings to enter into regulatory agreements with community land trusts (CLTs) which meet standard terms and conditions for regulatory agreements, and allows HPD to enter into such agreements where the CLT is a recipient of city funding, property or a tax exemption.