Word: decontrolling
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...corporate corner cutting when it comes to safeguarding the health and safety of workers and customers. Investment Banker Felix Rohatyn, writing in the New York Review of Books, bemoans a "climate of deregulation pushed to dangerous extremes." Result: the beginnings of a blistering debate about the impact of the decontrol era, and a movement to re- regulate. In a growing number of cases, Congress is viewing too much corporate freedom as a dangerous thing...
...rent control in Cambridge is being obscured by the misleading questions about tenant's income, the tax consequences for controlled versus non-controlled properties and City Councilor Bill Walsh's proposal for "dedication" of controlled units to low- to moderate-income tenants--a proposal best understood as vacancy decontrol...
...rent control in the name of reforming it. Councilor Walsh's proposal (The Crimson, October 18), is a glaring example. While questioning what kinds of tenants by income or occupational status should be protected and targetting less than half of presently controlled units to poverty level tenants though vacancy decontrol, the Walsh package misconstrues the intent of rent control, and tosses yet another red herring in the path of real needed reform. Under the Walsh plan, the approximatley 25 percent annual turnover rate for tenants in Cambridge would result in the deregulation for the majority of controlled units in five...
This 10 percent difference between the stated intent and the actual impact results from a provision buried in the "definition" section of the proposed ordinance. Obviously, the advocates and spokespeople for the Walsh package did not point this out when discussing the "decontrol" section. In fact, the 30 percent set-aside applies only to buildings with seven or more units. In five or six unit building, only one unit would be dedicated. One to four unit buildings would require no dedicated units. Needless to say, this lack of forthrightness is a great concern...
What is the real intent or impact of Councilor Walsh's proposal? Who will it benefit? Who will pay the costs? When pushed, Walsh has pointed to the expanded opportunity for homeownership made possible by vacance decontrol of 70 percent of presently controlled units. Clearly, a prospective resident or an absentee owner with a downpayment and an income large enough to carry a huge mortgage can benefit. Clearly, a landlord or a condominium developer can benefit as rents double or triple to market rates or condos are sold to the wealthiest buyers. Clearly, the real estate brokers can benefit...