New York Governor Extends Moratorium on Commercial Evictions
New York commercial tenants are protected from evictions and foreclosures through October 20 under a new executive order announced September 21.
Governor Andrew Cuomo said the executive order helps commercial tenants and mortgagors hit by the COVID-19 pandemic and economic restrictions that were put in place in March to reduce its spread to deal with the financial fallout.
The Democrat signed the Tenant Safe Harbor Act on June 30 and additional legislation provides assistance to residential renters and homeowners extending the moratorium until the emergency has expired.
Cuomo says the extension of the moratorium on evicting commercial tenants means those businesses can use the extra time to catch up on rent or their mortgage, or to renegotiate their lease terms to avoid foreclosure.