Council Member Brewer questions Khan on what SBS can do for businesses facing 300-500% rent increases

Okay, but what can you do?

I mean, you've always been able, and it's enhanced, to support these businesses.

But when you get a 500% increase in rent, that's when it's hard for SBS to do anything.

I mean, or 300%, whatever it is.

What do you do in that situation?

Because I guess what my bill is trying to do is to say, I mean, first of all, like I said, I know businesses that can't even get the owner on the line.

Obviously, with SBS's help or help, they might be able to, but we don't reach them all.

So, and then they're just told, you know, 300% increase or get out.

So what we're trying to do is, A, say you have to talk, communication, and then some of the other things that we talked about, knowing what's, you know, what's in the building and the issues.

And then the more controversial part you mentioned, which is if there's no ability to negotiate, at least give at a 10% increase,

give another year or six months, whatever it is, lease, so that that business at least has time to figure out what else they're going to do, and maybe they can work something out.

It's the pressure of the chain stores, for lack of a better word, is so intense.

So I guess my question is, what do you do?

How do you advise when a business has a 300% or 500% increase in rent?

Is there anything that...

SBS can do?

I mean, we're certainly not weighing in on like the business decision that businesses have to make, but we're providing them with all of the rights and obligations and understanding of those things.

So then they can make the informed decision.

But to your point, we are in the middle of an incredible affordability crisis that impacts New Yorkers.

And the mayor has been so eloquent on that crisis, but has also been eloquent on ensuring that people don't miss the fact that small businesses are also impacted by this crisis.

And that is precisely why in July they launched, the city launched, we announced a 50-plus reforms package of open for small business, which will address some of the fines and fees on the government side that government imposes on small businesses.

But in EO18, which was accompanying that announcement, is also an analysis by SBS of all the other cost drivers that are not city regulatory imposed, but are cost drivers that we know businesses are struggling with

across the city and explore solutions to that.

And your bill is one such proposal that could help mitigate some of the challenges businesses are facing with the high cost of rent.