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Elected Officials Praise Efforts to Keep Starrett City Affordable

by Matthew Schuerman

NEW YORK, NY June 03, 2008 —A new agreement at Starrett City will guarantee that its 5,800 apartments stay affordable for another 20 years.

Elected officials announced yesterday that the owners have agreed to require the buyer of the property to stay in government programs that will make sure residents pay no more than 30 percent of their income. City Councilman Charles Barron says that the deal, which was a year in the making, shows that pressure from tenants and public officials can pay off.

BARRON: A Lot of New Yorkers are leaving because it's too expensive to live in New York City. We're saying: Don't go anywhere. Do what we did.

REPORTER: A spokesman for the owners says the bids will go out today to about 30 interested parties and are due back in mid July. They hope to select a buyer by September.



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