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Extension of Personal Liability Guarantee

By NYC Hospitality Alliance

Today, we testified at a City Council hearing in favor of extending the law that temporarily suspends the enforcement of personal liability provisions in commercial leases

Today, the NYC Hospitality Alliance testified at a City Council hearing in favor of extending the law that temporarily suspends the enforcement of personal liability provisions in commercial leases involving certain COVID-19 impacted tenants, like restaurants and bars from March 31, 2021 to June 30, 2021.
 
With indoor dining in New York City set to increase occupancy to only 50% on March 19th, our city’s eating and drinking establishments still more than 140,000 jobs short of pre-pandemic levels, and our latest rent survey in December finding that 92% of respondents could not pay their rent fully, combined with countless other challenges, it is clear, the City of New York must extend this critically important law, or exacerbate the economic and small business crisis.
 
We thank Speaker Corey Johnson, Chair Mark Gjonaj, sponsor Councilmember Carlina Rivera, and members of the small business committee for the opportunity to testify in support of this critically important legislation that we anticipate will be passed soon and signed into law by Mayor de Blasio shortly thereafter.
 

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