21 July 2009

No Surprise

In today's article in the New York Times on the record storefront vacancy rate in Manhattan, 6.5. percent, the highest point since the early 1990s:

The City Council is weighing in, too, considering a Small Business Survival Act that would require businesses to have the option of 10-year leases, renewals and the right to mediation if they cannot reach an agreement.

The legislation does not have the support of the Bloomberg administration, which argues that tracking lease negotiations would be too costly because of expenses like hiring staff, and that the need for such a law has “greatly dissipated” because rents have declined.

I wonder what would have to happen for Bloomberg to get behind New York's small, independent businesses?

Bloomblight. Bloomblight.

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