NEW YORK, NY May 25, 2006 —City Comptroller William Thompson says too many landlords are opting out of affordable housing programs accelerating the loss of cheap apartments in the city.

THOMPSON: How bad is the crisis? Between 2001 and 2003 only 4,700 units had left the program. However since 2004 more than 25,000 units have withdrawn or given notice to withdraw.

Thompson's study says the loss of Mitchell Lama and other affordable housing offsets some of the city's affordable housing gains.

The comptroller says the state and city should offer landlords tax incentives to keep their buildings in the program. He also says rent stabilization laws should apply to all Mitchell Lama housing built after 1974 if landlords opt to leave the program.