Senate Majority Leader Pedro Espada said he would sponsor legislation to repeal vacancy decontrol.
Speaking at a rally organized by the Northwest Bronx Community and Clergy Coalition, Espada was asked, in front of a crowded gymnasium, if he would support repealing that law.
“The question is answered by saying yes,” Espada said.
To make sure, a member of the group sponsoring the event asked Espada the question a second time.
“Very very clearly. The answer is yes. However, however, in addition to that, vacancy decontrol will affect very few units in our district.” Then, Espada pointed to a Hispanic grandmother who had spoken about problems in her apartment since ownership of her building changed hands.
“What this young lady just talked about is predatory equity. Predatory equitiy. People that come in from the outside and invest in our communities,” he said, before adding, “and what I am telling you, as your majority leader, is that it doesn’t stop and start with vacancy decontrol. The governor right now is trying to take away $500 million in affordable housing” and “millions of dollars in health care. So, as your majority leader, I promise you much more than the repeal of vacancy decontrol.”
Espada has promised to repeal the legislation previously.