This (https://www.saveourstorefronts.nyc/) is circulating and seeking support.
Please support NY State Senate Bill S 8865 and Assembly Bill A 10901,
providing critical rent relief to small businesses, small landlords, and not-for-profits devastated by the Covid-19 outbreak & PAUSE order.
https://www.nysenate.gov/legislation/bills/2019/s8865
https://nyassembly.gov/leg/?Summary=Y&Text=Y&bn=A10901&default_fld=&leg_video=&term=2019
SOS strongly support NYS Senate Bill S 8865 (Assembly Bill A 10901). This legislation calls on landlords and commercial tenants to face the rent crisis together—to share the burden of saving the city we love.
In summary:
- Under the bill, a small business or small non-profit (covered tenants) with 25 or fewer employees that has suffered a demonstrable loss in income resulting from state mandated closures or state imposed restrictions would affirm its losses to the state Department of Financial Services (DFS). Upon verification by DFS, the covered tenant would pay its landlord the lesser of 20 percent of its revenue or â…“ of the contractual rent per month, beginning March 7, 2020, and continuing for 180 days past the end of the NYS on PAUSE period.
- The landlord would waive 20 % of the contractual rent. An impacted landlord would be eligible to apply to DFS for lost income beyond the 20 %. $500,000,000 of expected federal aid would be dedicated to the establishment of a DFS program providing relief to tenants and landlords.