Bloomberg and some local politicians want to keep it industrial. — Photo by Diego Cupolo

The new Loft Law may have worked its way through the Assembly and Senate to the chagrin of the pro-industry lobby and many landlords, but it has one major opponent that could see the law extension vetoed by Governor Paterson: Mayor Michael Bloomberg.

In a letter to the governor today, Bloomberg laid out his opposition to the bill, which would extend the protections enshrined in the 1982 version to buildings around Brooklyn that have seen many residential conversions of commercial and industrial buildings since the last extension in 1987. Landlords of affected properties will be required to bring units up to code in all areas including the health, safety, and fire standards required of all residential units. Tenants will also be afforded protection from sudden eviction and commercial rent increases, which are unrestricted by law.

The mayor opposes the extension because it “would hurt our economy by driving manufacturers out of New York City, reducing the number of good-paying jobs available to New Yorkers at precisely the time we need them the most.” He also takes issue with what he considers lenient fines for the violation of zoning codes, calling for a 2500% hike in some cases.

City Hall would like to see a one-year extension of the existing bill for currently affected properties, and later a “thoughtful” reworking of the proposed expansion which would be more in line with what advocates of protecting industrial uses from market forces would prefer.

Bloomberg is joined by several local politicians in opposition, among them Bushwick and Williamsburg’s City Council member Diana Reyna and Congresswoman Nydia Velázquez — political nemeses of bill sponsor Assemblyman Vito J. Lopez and supporter State Senator Martin Malavé Dilan. Reyna and fellow Council member Brad Lander of the 39th District, along with Velázquez and colleague Congressman Jerrold Nadler, drafted their own letter to the governor in defense of New York City’s Industrial Business Zones, which they claim protects thousands of local jobs. Reyna is a well-known opponent of residential variances and rezonings of industrial space for residential use; in 2008 she successfully argued against a rezoning for 70 Wyckoff Avenue, a loft building converted illegally to residences but in a way consistent with housing code.

No word yet on what Governor Paterson plans to do.