Rent control heats up and with it potential problems for Hoboken
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.
The BankRobber submitted the latest salvo on the war, this mailer that spells more trouble yet to come. Corporation Counsel Kates suggests the resolution is to fix the ordinance. But will that in the end be the final outcome? If this town could just get a chance to catch its breath.