NYC Water Board Proposes Significant Rate Increase

On May 3rd, the NYC Water Board met with the DEP. The DEP proposed to raise the water sewer rate by 8.5% resulting in a rate of $12.61/HCF, effective 7/1/2024. This represents the largest increase since Mike Bloomberg left office. This large increase is being pushed primarily by the rental agreement. We recommend property managers oppose this large increase.

DEP Commissioner, Rohit T. Aggarwala asked for The Multi-Family Conservation Program (MCP) to be rolled back another year. This is not the first time MCP was rolled back, many commissioners before Commissioner Aggarwala promised to address MCP but never have.