HDFCs Under Attack--Again!

The HDFC community is facing a new threat from City government, and we need your help to win. We need to work together to defeat Local Law 64 of 2018, also known as the new “Housing Portal” law.  

The City Council passed Local Law 64 of 2018 to force big developers to register new affordable rental units, but somehow every individual HDFC apartment owner got caught up in it along the way, and next year we could face fines up to $2,000 a month for not complying with the law.

If not amended, starting in July of 2020 Local Law 64 will: 

• Require every HDFC apartment owner to register their apartment each year on a website run by HPD, and to list their apartment again when it is offered for sale or rent. 
• Cause each and every HDFC apartment owner to receive as many as 1,000 applications or more through the HPD website if we sell our apartment, and leave us at risk of being sued for not replying to each application, according to HPD. 
• Allow HPD to fine shareholders from $100 to $2,000 per month for failing to list their apartment sometime after July 2020, when the HPD website is scheduled to be operational.  
• Require all HDFC shareholders to comply, including those whom are elderly, may not use computers, may not communicate primarily in  English, and cannot afford to pay such fines.
• Invade our privacy and require us to list our private homes on a government website.
• Possibly cause banks to stop lending for HDFCs or make it more difficult to get a loan or a mortgage. 

For more info see https://www.hdfccoalition.org/