More than 100 residents of Rochdale Village in Southeast Queens traveled to the State Capitol on Tuesday, May 27 to demand immediate legislative and budget action to stop a steep 57% increase in carrying charges that they say threatens the future of one of New York City’s largest affordable housing cooperatives.
Carrying charges in Mitchell-Lama cooperatives like Rochdale Village are monthly fees paid by shareholders to cover the building’s operating expenses, including maintenance, utilities, taxes, insurance, and debt service. Unlike traditional rent, carrying charges are pooled to sustain the cooperative as a whole, and are intended to keep housing costs affordable for middle-income residents. A 57% increase in these charges significantly raises the monthly cost of living, placing a heavy burden on fixed-income seniors, working families, and longtime residents who rely on the affordability that the Mitchell-Lama program was designed to ensure.
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Residents of Queens’ largest co-op fight massive carrying charge increase in Albany