Mayor Zohran Mamdani needs to make some big changes before moving forward with the City Council’s well-intentioned but flawed effort to steer more distressed housing into the hands of nonprofit building managers. The Community Opportunity to Purchase Act, part of a batch of bills vetoed by ex-mayor Eric Adams on his final day in office, has been reintroduced and will likely come up for a vote later this year – but it will need guardrails to keep swindlers and bunglers from making the city’s housing crisis even worse.
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