ALBANY, N.Y. (CBSNewYork/AP) — New York’s legislative leaders have reached a budget agreement with Gov. Andrew Cuomo that includes an extension of rent controls for more than 2 million tenants.
The deal includes a framework for a four-year extension of rent regulations. It also provides for a one-year extension of mayoral control of New York City’s public schools. The 421a tax abatement program for real estate developers will also be extended for six months.READ MORE: Tri-State Area Police Departments Travel To Harlem In Tribute To Fallen NYPD Officer Jason Rivera
The state’s rent regulations had expired June 16 but were temporarily extended as lawmakers continued to negotiate.