By Patrick Hedlund
DNAinfo News Editor
MANHATTAN — The city’s Rent Guidelines Board will hold its final public hearing Thursday on whether to raise rents on the city’s 1 million rent-stabilized apartments.
At a preliminary vote last month, the board voted in favor of hiking rents by 2 to 4 percent for one-year leases and 4 to 6 percent for two-year leases.
The contentious annual vote has proven particularly frustrating for tenant advocates, who in recent years have called for a rent freeze amid the economic downturn.
Last year the Rent Guidelines Board voted to increase rents by 3 percent for one-year leases and 6 percent for two-year leases.
A host of advocates and elected officials are expected to testify in favor of a rent freeze at the pubic hearing, which takes place Thursday from 10 a.m. to 6 p.m. at the Cooper Union’s Great Hall in the East Village.
Manhattan Borough President Scott Stringer will lead a rally at 5 p.m. outside the Cooper Union to present data demonstrating the need for a rent freeze.
The RGB voted 5-4 in favor of the proposed hikes at the May 5 preliminary vote despite vocal opposition and cries from the crowd.
A motion made by a board member representing tenants to freeze rents failed by a vote of 7-2, though new RGB Chairman Jonathan Kimmel rejected an attempt by a member representing landlords to bump the proposed increases up by a percentage point each.
The board consists of nine members appointed by the mayor: two members representing tenant interests, two members representing landlord interests and five members representing the general public.
The final vote will take place on June 24 at the Cooper Union’s Great Hall.
