The times, they are a'changin in Albany. Senate Democrats are looking to take the Majority back from Bruno Skelos and complete the trifecta for control of the State Legislature. For decades much needed legislation has been stymied by the partisan logjam, so with the possibility of the dam bursting, developers/landlords are putting their contributions in a place where they never thought imaginable, Democratic coffers.
From The NY Times:
Looking to block or water down an array of pro-tenant measures, including the repeal of vacancy decontrol, that have won support in the Democratic-controlled Assembly, real estate industry executives have stepped up their campaign donations to the Senate Democratic leadership, a review of campaign-contribution records shows. They are also continuing to contribute to Republicans.
The review, made by the New York Public Interest Research Group at the request of The New York Times, found that a selection of major real estate developers, lobbyists and limited liability corporations gave more than $750,000 to the Senate Democratic leadership last year and this year. That is 15 times more than the roughly $48,000 that the same developers and companies gave to the Democratic leadership from 2005 to 2006.[...]
Industry officials are particularly worried about a measure strongly supported by rank-and-file Senate Democrats that would abolish vacancy decontrol, a law under which rent stabilized apartments are decontrolled and revert to market rents when the occupants move out, if the regulated rent exceeds $2,000 a month. The Assembly approved legislation to abolish vacancy decontrol as part of a package of pro-tenant bills it passed in May. Tenant groups have said that should the Democrats win the Senate this fall, abolishing vacancy decontrol will be among the first issues they and their Democratic allies will push for in the Senate next year.
The powerful realty groups are sickened by the fact that tenants might get a few rights at the expense of their own bottom lines. Rent and real estate in general has spiraled out of control, forcing many longtime residents to leave the city. Meanwhile wealthy developers that can afford to give
“Campaign cash is like a drug, and the real estate industry are like heroin dealers,” said Dan Cantor, executive director of the Working Families Party, which is leaning on Democrats to support a broad expansion of rent laws. “They have fed the Republicans’ habit for decades, and now they are trying to hook the Senate Democrats.”
We'll be ready for the intervention if necessary.
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