Page 33 - Community Stabilization News Today

Signature Bank owned nearly $15 billion of mortgages across four of New York's five boroughs, making it the largest lender to rent-regulated housing in the city.

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A venture including CPC and Related bought a 5 percent stake in a loan portfolio following the fall of Signature Bank, and paid $171 million.

The City Council agreed Tuesday to appoint three new members to two of its advisory committees, one member to the Rental Housing Committee and two members to the Environmental Planning Commission.

The Rental Housing Committee grappled Monday with the issue of how to reconcile fluctuating utility costs with the city’s rent stabilization laws, settling on a plan to phase out the ratio utility billing system.

With a focus on preventing housing insecurity, Mountain View is taking steps to create local rules that will protect tenants from losing their rent-controlled homes due to redevelopment projects.

Mountain View’s rent control measures may have hit its limit with a utility billing system that tenants argue has left them in the dark on what they owe the landlord each month, including big changes month to month.

The city of Mountain View established a stand-alone Housing Department July 1 aimed at advancing inclusive housing programs and affordable housing project plans.

This coming Monday, Mountain View will welcome its first-ever housing director under the newly formed Housing Department, doubling down on the citys efforts to spur development of homes in the city.

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