WHEREAS, the New York State Legislature is now considering renewal of New York City rent regulations that are due to expire on June 15, 2015; and

WHEREAS, the city’s rent regulations help approximately two million city residents living in just over 1 million rent-regulated apartments, constituting about 47 percent of rental housing; and

WHEREAS, if the rent regulations are allowed to expire, tens of thousands of apartments would likely convert to market-rate rents in the coming years; and

WHEREAS, with market rates for housing continuing to set new record highs, it is critically important that the state both renew and strengthen the rent regulations to ensure that middle- and working-class  families can continue to live in New York City; and

WHEREAS, the state Assembly has approved a bill that would renew the rent regulations for four years and make needed changes, such as reducing the amount by which rent can be increased upon vacancy from 20 percent to 7.5 percent and establishing that any rent increase tied to building or apartment improvements expire once the cost of the improvements has been recovered; and

WHEREAS, it is critical to the future of our city, the families of students we educate, the health care patients we care for, and to UFT members themselves that New York City remain an economically diverse city where people of all income levels can have a decent, affordable place to live; therefore be it

RESOLVED, that the United Federation of Teachers supports the extension and strengthening of rent regulations for New York City; and be it further

RESOLVED, that the UFT specifically supports Assembly bill A-7526 to strengthen rent regulations and protect New York City tenants.