Peekskill Common Council Calls for Rent and Mortgage Flexibility

In response to the economic crisis resulting from COVID-19, the City of Peekskill Common Council has unanimously passed a resolution sponsored by Councilperson Vanessa Agudelo requesting that landlords practice rent flexibility and banks offer deferment plans on mortgage loans. The resolution recognizes the financial hardship that the pandemic is having on many Peekskill residents – including job losses and the ability to keep and maintain their homes and places of business without the burden of excessive debt.

The City of Peekskill Common Council is asking local landlords to work together with tenants during the pandemic. This includes considering a freeze on all rent increases planned for the immediate future, waiving late payment penalties, offering rent payment flexibility (allowing more time for tenants to pay their rents with modified payment schedules), and waiving rent wherever deemed necessary and appropriate for both residential and commercial tenants.

“The great majority of people in our community rent their homes and many of our local mom and pop businesses rent their commercial spaces,” noted Councilperson Agudelo. “In fact, more than a third of our renters pay over 50 percent of their income towards their monthly rent, an income stream that now may have been lost because of the pandemic. At a moment when our unemployment rate has hit an all time high, it is more important than ever that we as a community work together to do what we can to help each other survive these hardships. We believe that immediate financial relief can result from the consideration of a rent increase freeze, as well as landlord consideration of greater flexibility in landlord-tenant rental agreements.”

Recognizing that small landlords are also facing a great financial burden from their tenants' loss of income, banks are also asked to work with borrowers to eliminate penalty fees, offer deferment plans, and consider a freeze on mortgage loans to mitigate risks of foreclosure during the pandemic.

“This resolution is by no means mandating a waiver of rent or mortgage payments, but rather urges tenants and landlords, as well as borrowers and lenders, to work together proactively to create a plan that is both reasonable and feasible for all parties involved,” said Peekskill Mayor Andre Rainey. “We believe these measures are essential to help everyone stay home so we can reduce the spread of COVID-19.”

The City of Peekskill is located at 840 Main Street in Peekskill, N.Y., and can be reached at 914-737-3400 or by visiting www.cityofpeekskill.com.

About the City of Peekskill

The City of Peekskill is a thriving, historic community located on the banks of the Hudson River. Just under one hour north of New York City, Peekskill is culturally and economically vibrant with abundant natural resources due to its location on the river and at the gateway to the Hudson Highlands. The waterfront, with over three miles of continuous parkland, is a regional destination with a variety of active and passive recreation, as well as breathtaking views of the Hudson River. While Peekskill’s waterfront parks, walking trails and dog park remain open during the coronavirus pandemic, guidelines for social distancing are enforced. The downtown area features an array of dining establishments currently offering take out, curbside pickup or delivery. The City recently passed a local ordinance allowing for free 15 minute parking in front of restaurants exclusively for the pick up of food and beverages. Home to a growing arts community, Peekskill is also a hub for new-generation technology and multimedia. For more information, visit www.cityofpeekskill.com.