Tuesday, February 18, 2020
HDFC homeowners hosting emergency meeting to discuss proposed legislation
HDFC homeowners in the neighborhood are holding an emergency meeting on Wednesday night (Feb. 19) at the Theater for the New City, 155 First Ave. between Ninth Street and 10th Street, to discuss proposed legislation from Assemblymember Harvey Epstein.
According to members of the HDFC Coalition, the draft legislation will "radically change the Private Housing Finance Law (PHFL) which governs HDFCs, and introduce draconian rules that would undermine our independence and the viability of our homes."
The Coalition says that Epstein drafted the proposal without properly consulting HDFC shareholders.
The summary of draft bill A9608 "establishes the office of the HDFC cooperative ombudsman; establishes an office of the HDFC ombudsman fund for deposit of a residential unit fee, and directs the administration of such fund."
On Wednesday night from 6 to 7:30, Epstein will field questions about the proposed changes.
For more background, you may visit the HDFC Coalition website here.