Bronx affordable housing may become rare
One of the reasons residents opt to live in the boroughs of Manhattan is to find more affordable housing. In the Bronx this incentive may soon be scarce.
The City Council and Mayor Michael Bloomberg (R-NY) are slamming doors over a bill aimed at saving low-income housing. The Mitchell-Lama program keeps rents affordable by offering landlords tax incentives. Tenants say if they are charged market value for their housing then this could potentially increase the homeless population.
According to housing advocates, District 18 in the Bronx may lose 4,000 apartments that are part of affordable housing. The City Council passed a bill in June requiring landlords wanting to leave Mitchell-Lama and Section 8 housing to give tenants the option to buy their buildings. However, Mayor Bloomberg vetoed the measure on Thursday.
The mayor?s attempt to throw this bill out the window may be short lived. The bill returns to City Council next month.