Update: 4.29.10 – The rent control issue has commanded a lot of discussion.  But the heart of the issue seems to be what the city will do to counter what it’s risking – a class action lawsuit.  What will Hoboken do in the existing rent control ordinance to minimize the exposure and keep the town from facing very large penalties?

Hoboken is under pressure to update and properly attend to its rent control ordinance most recently highlighted in a Jersey Journal story announcing a class action lawsuit representing owners for 8,000 units.  The law as presently administered is problematic and opened the door to the action when an earlier case declared its application in one specific instance “arbitrary and capricious” last October.  Since then, the battle lines have been forming both inside and outside the court room.  The heat can be expected to rise as the pressure for the town to address limitations of the existing ordinance comes to a head.  The last City Council meeting had several members speak on behalf of the existing ordinance in an ongoing public relations war to earn attention and stymie the forces aligned against it. Read More...