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Posted on 01/01/2026 4:05:39 PM PST by CFW
In his final day in office, New York City Mayor Eric Adams vetoed the Community Opportunity to Purchase Act (COPA), which was set to create massive hurdles and red tape for landlords to sell their buildings. COPA would have forced landlords to first offer up their property to non-profits and other city-approved entities before putting the buildings on the open market. This comes as a strong proponent of COPA, incoming Mayor Zohran Mamdani, has cited it as a strategy to get rid of bad landlords.
Adams, on Wednesday, vetoed the measure which was derided by landlord groups as well as others as an intrusion on private business deals. Adams also vetoed 18 other bills, according to The Real Deal. Three of the other 18 would have made other rules for city housing in the already heavily regulated housing market.
COPA would have forced landlords to tell nonprofits that qualify for the properties nearly a month prior to putting them on the public market. Additionally, if the property owner rejected an offer by a nonprofit during that time, the owner would then have to go back to a nonprofit if they got a private deal afterwards, asking them if they would match the private offer. The regulation would have extended closing deals and heavily slowed down the purchase and selling process.
(Excerpt) Read more at thepostmillennial.com ...
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Related:
“Mamdani promises new era of ‘collectivism’ for NYC in ominous inauguration speech”
“New York City Zohran Mamdani said that he is going to replace the culture of “rugged individualism” with a culture of “collectivism” in New York City during his inauguration speech on Thursday. He said that he was “elected as a democratic socialist” and will “govern as a democratic socialist.”
“We will replace the frigidity of rugged individualism with the warmth of collectivism. If our campaign demonstrated that the people of New York yearn for solidarity, then let this government foster it,” Mamdani said.”
Ask any survivor of a communist regime about the “warmth of collectivism”.
RE: Eric Adams vetoes law forcing landlords to offer property sales to nonprofits as Mamdani takes office
Pretty useless by valiant effort. Mamdani can always ( with the help of the left-wing legislators ) re-instate it.
Multi-unit owners will have to wait ages to sell their property now and NYC will in effect OWN tons of property.
“Mayor Zohran Mamdani issues sweeping executive order that wipes out most EOs issued by Adams after indictment”
“Democratic socialist Mayor Zohran Mamdani wasted no time trying to erase his predecessor’s legacy — signing a sweeping executive order just hours after taking office that wipes out most of the orders issued by Eric Adams following his indictment.
The move, one of five executive orders the 34-year-old pol signed in Brooklyn Thursday, will revoke all orders issued by Adams after Sept. 26, 2024 — the same day he was slapped with federal corruption charges — to ensure a “fresh start” for his incoming administration.”
RE: Mayor Zohran Mamdani issues sweeping executive order that wipes out most EOs issued by Adams after indictment”
Precisely, as I said, these things Eric Adams did are token attempts which are in effect “pissing in the wind”.
Mamdani is mayor not gov.
Sliwa won the Republican primary. Cuomo was the Democrat sore loser who came back as a spoiler.
Sliwa won the Republican primary. That fact paired with $5 will get you a cup of coffee at Starbucks.
But of course.
Stupid is as stupid does. He'll get it passed despite the parting middle finger.
Expect even more properties to come off the market.
Turnabout is fair play, Mandami. What happens when you’re indicted?
From an ai search...
The Great Purge resulted in approximately 681,692 official executions, with estimates of total deaths, including those in the Gulag system, ranging from 700,000 to 1.2 million. This period of political repression occurred mainly between 1936 and 1938 in the Soviet Union.
Communism has this thing for executing those who disagree with their collectivist miracle.
Good move by Mayor Adams.
Mayor Adams learned over time, and by the end of his term, he proved to be a capable mayor.
“Communism has this thing for executing those who disagree with their collectivist miracle.”
Those victims did not disagree with communism. Only with who was gonna be the boss.
It's significance depends what you are interested in: what's best for New York City, or what's best for the New York City Republican party.
And that right there, ladies and gentlemen, is why New York so richly deserves Mayor Mamdani!
Speaking of debt
Office of Comptroller-
The City had $41.0 billion of debt-incurring power as of July 1, 2024. Despite the $14.0 billion increase in borrowing capacity, debt-incurring power is projected to drop to $33.2 billion by July 1, 2027.
Debt service as a percentage of City tax revenues was 10.6 percent in Fiscal year 2024, essentially unchanged from the previous year and well below the 15.0 percent ceiling that the City uses to evaluate debt affordability. Under conservative assumptions, future capital spending is expected to push debt service closer to the policy ceiling without exceeding it.
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