Let's hear it for small businesses!
Our favorite mom and pop shops are now going to be protected from the massive overflow of gentrification spreading throughout the city with new legislation set to be passed by Mayor de Blasio.
The bill is designed to protect, and give some peace of mind to, local small businesses in light of the harassment they've been facing when it comes to rent hikes.
Specifically, the bill will give small businesses rights in the commercial leasing renewal process, and a minimum 10 year lease with renewal rights.
What does this mean exactly? Small business will no longer be forced away due to excessive rent hikes.
The bill is to be signed by de Blasio tomorrow, and is the first major step towards protecting New York City mom and pop shops.
Many small businesses have complained that landlords hoping to raise rents have harassed these small businesses despite their status as longtime renters.
While this is definitely a positive step forward, many small business owners have expressed that the legislation needs to pack a more powerful punch to put a more definitive end to this harassment.
Another downfall of the bill is that it only applies to tenants with leases. This means that immigrant-owned businesses with no lease will neither be affected by, nor able to benefit from the bill.
NYC is home to some of the uniquest mom and pop shops, and it'd be devastating to see them go. Hopefully we start taking more steps to protect such valuable parts of our community.[via Curbed] [Feature Image Courtesy Instagram]