REMARKS
Council Member Marte highlights succession rights issue for loft apartments
1:14:45
·
40 sec
Council Member Marte addresses the issue of succession rights for loft apartments affected by the arts fund fee, contrasting it with other rent-regulated apartments in the city.
- Marte points out that residents can't pass their apartments to non-artist children without paying the fee
- He contrasts this with other rent-regulated apartments where succession rights exist
- Marte expresses that this situation is 'a shame', implying it's unfair to the residents
Christopher Marte
1:14:45
Just a quick question.
1:14:46
Under the current arts fund fee, would you be able to give your apartment to your children's who are not certified artist?
1:14:55
You can't turn the mic.
1:14:57
No.
1:14:58
And so In almost every other rent regulated, rent stabilized apartment, you have a right to secession.
1:15:06
However, in your apartment, in your loft, if you wanna give it to your family member who is not an artist, they would have to pay that $200,000 fee to acquire in a home that they've been living in their whole life.
Ronnie Wolf
1:15:20
That's correct.
Jennifer Pettit
1:15:21
That's correct.
Christopher Marte
1:15:22
That's a shame.
1:15:23
Thank you for being here.
