Chair Lee on Local Law 97 exemptions for Mitchell-Lamas

Also, just a side question, because this is a bill that we are looking at as well, but for Mitchell-Lamas, are you exempt, or are there any exemptions for Local Law 97 in terms of the future penalties that are coming up?

Because I know those charges are going to be quite a bit.

Yeah, so they're exempt through 2035, or until 2035.

And then after 2035, because I know that it's increments of the increases, how much is it going to be increased to?

Is it at a lower percentage than some of the other co-ops and resident?

I don't have that off the top of my head, but we can supply that.

Okay.

Only because I know with insurance costs and everything else going up, that could be a potential cost in the near future that would be.

big, but hopefully the J51s and everything else will help as well.