HDFC homeowners are holding a rally on the steps of City Hall this Wednesday morning. The above flyer has all the details.
As previously reported, there are proposed new regulations on nearly 1,200 privately owned co-ops, including a number in the East Village.
Here's a recap from an EVG reader and co-op resident about what's happening from an earlier post:
This new proposed Regulatory Agreement is overreaching and would result in a loss of autonomy and decision-making abilities that benefit HDFC buildings, as well as costing individual shareholders hard-earned equity.
The new rules include a 30 percent flip tax on all units when they sell; the requirement of hiring outside managers and monitors at our expense; a ban on owning other residential property within a 100-mile radius of New York City; and more draconian clauses. Community meetings to discuss the agreement have been contentious and hostile, and so far not one HDFC in the entire city has publicly supported the plan. Very few HDFCs in the city need financial help and we strongly oppose a "one size fits all" regulatory agreement that will cost us money, resources, and most important, value in our home equity.
For more background, you may visit the HDFC Coalition website here.
Previously on EV Grieve:
Meeting on Jan. 17 for shareholders living in HDFC buildings
CB3 will hear HPD presentation on HDFC regulatory agreement this Wednesday night