Condemning the Rent Guidelines Board

Resolution condemning the Rent Guidelines Board for once again needlessly increasing rents to New York City residents of rent stabilized buildings by an egregious 4% for 1-year lease renewals and 6% for 2-year lease renewals, instead of the anticipated 3% and 5%, respectively, that would have more than sufficiently covered building owner expenses and the costs of inflation, and calling upon the appropriate Committee of the Council to hold hearings and review the process by which the Rent Guidelines Board makes its decisions.