City Council Progressives Take Aim at Landlords and Climate Change in Latest Push for Livable Future Package
Despite losing its prime sponsor, the Community Opportunity to Purchase Act remains a top priority for progressive City Council members as they look to boost nonprofit landlords and address Local Law 97 relief in their last four months in office.
City Council members are making a final push for their Livable Future package, which includes the controversial Community Opportunity to Purchase Act (COPA) and other "social housing" bills, as they approach the end of their term.
The COPA bill, introduced in 2020, would give nonprofits and community land trusts the first opportunity to purchase residential buildings with three or more units. Despite facing opposition from real estate developers and owners, the measure has had at least three hearings and is still being championed by progressive council members.
"We are committed to passing COPA and the broader Livable Future package to ensure a more equitable and sustainable housing market," said Councilmember Antonio Reynoso, who recently became the prime sponsor of the COPA bill after its previous sponsor, Brad Lander, won the Democratic primary race for New York City Comptroller.
However, the push for COPA is not the only goal of council members in their final months. They are also looking to address the controversial Local Law 97, which requires buildings over 25,000 square feet to reduce their carbon emissions by 40% by 2030 and 80% by 2050.
The Livable Future package includes a proposal to make it harder for buildings to qualify for the relief from Local Law 97 by requiring them to meet stricter energy efficiency standards. This move has been met with resistance from the real estate industry, which argues that it is unfair to change the rules mid-game.
"We need to make sure that we are not giving away money