New York, NY – When Co-Ops Denies You, They May Have to Say Why.

New York, NY – Nearly two-thirds of the members of the City Council are co-sponsoring a measure to shed a little light on the shadowy process by which co-op boards decide which apartment buyers to accept and which to reject. To the uninitiated, the council members’ aim may seem modest. What they want is for co-op boards to be required to give their reasons for rejecting an applicant, and to do it in writing within five days of rejection.

The bill’s opponents is no other then Council Speaker Christine Quinn, say federal, state and city laws already prohibit discrimination and offer redress. They say the bill, the Fair and Prompt Co-op Disclosure Law, would let loose a flood of lawsuits, delay co-op sales, discourage residents from serving on co-op boards for fear of liability and impose an administrative burden, especially on smaller co-ops. [NYTimes]