New York Note: Adams Indictment, City of Yes, City Legislation, Trailblazers in Real Estate

September 30, 2024

Adams Pleads Not Guilty to Five Felony Charges

On Friday afternoon, Eric Adams pleaded not guilty to five felony counts, including bribery and fraud. Adams has been accused of receiving over $100K in illegal gifts and using his political status to help Turkey, along with orchestrating a “straw donor” scheme that allowed him to receive $10M in illegal matching funds for his campaign donations. Adams also updated a mayoral order, now detailing information if First Deputy Mayor (currently Sheena Wright) is unable to carry out their duties – passing them over to Deputy Mayor for Health and Human Services (currently Anne Williams-Isom). Several members of the Adams have recently announced their departure, including Schools Chancellor David Banks and Health Commissioner Ashwin Vasan. Please note that this story is still developing; if you have any questions, please reach out to the Cozen O’Connor Public Strategies team.

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City of Yes for Housing Opportunity Approved by CPC

Last Wednesday, the City Planning Commission approved the City of Yes for Housing Opportunity in a 10-3 vote. The package of zoning reforms, designed to make it easier to construct residential units, was approved by the CPC with some modifications, including exempting NYCHA campuses from an “infill” proposal. Despite the approval, several Commissioners of the CPC urged City Council members, who will review the proposal next, to pursue modifications. The City Council will vote on the proposal in the coming months.

NYC Council Introduces and Passes Legislation

Last Thursday, the NYC Council convened a Stated meeting, where they passed and introduced multiple pieces of legislation. The Council approved a zoning resolution for a new Memorial Sloan Kettering cancer center on the Upper East Side. A package of bills addressing maternal mental health was also passed, along with a pilot program for the use of rat contraceptives, a bill legalizing jaywalking, and a bill requiring solar panels on city-owned property. The Council introduced a bill requiring employers to notify current employees of promotional opportunities prior to selecting a candidate, and an additional bill prohibiting discrimination on the basis of “family or relationship structure” in employment, housing, and public accommodations. You can find all of the legislation that was passed and introduced here.

City & State NY’s 2024 Trailblazers in Building & Real Estate

Meenakshi Srinivasan has been named to City & State NY’s 2024 Trailblazers in Building and Real Estate. The inaugural list highlights key players in real estate navigating NYC’s unique landscape. Srinivasan advises NYC real estate developers on matters of planning, land use, zoning, and landmarks.

New York Note – September 2024 Survey

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