10/20/2020 | News release | Distributed by Public on 10/20/2020 12:05
Governor Andrew M. Cuomo today signed an Executive Order extending the state's moratorium on COVID-related commercial evictions and foreclosures through January 1. This measure extends protections already in place for commercial tenants and mortgagors in recognition of the financial toll the pandemic has taken on business owners, including retail establishments and restaurants. The extension of this protection gives commercial tenants and mortgagors additional time to get back on their feet and catch up on rent or their mortgage, or to renegotiate their lease terms to avoid foreclosure moving forward.
'The health and economic impacts of this pandemic have been devastating, and we are continuing to do everything we can to support people who are suffering,' Governor Cuomo said. 'We are going to extend the commercial eviction and foreclosure moratorium through January 1st. That will now align with our residential eviction moratorium so they are both extended to the same date.'
Governor Cuomo first announced a State moratorium on residential and commercial evictions on March 20 for a period of 90 days to ensure no tenant was evicted during the height of the public health emergency. The commercial eviction and foreclosure moratorium was extended through August 20, September 20 and October 20 by Executive Order. The Governor signed the Tenant Safe Harbor Act on June 30 which became effective immediately and extended the eviction moratorium for tenants until the Emergency expires. Additionally Governor Cuomo signed legislation to provide financial assistance to residential renters to provide relief during the public health emergency. Governor Cuomo also has provided additional protections for residential renters from charges for late payment of rent, and allowed tenants to use security deposits to pay rent for residential tenants by Executive Order.