QUESTION
How do private rentals of city-owned properties work, and what opportunities are there for nonprofit organizations?
0:33:51
·
73 sec
Deputy Commissioner Jesse Hamilton explains the process and opportunities for renting city-owned properties, highlighting the role of nonprofit organizations.
- The city has about 350 short-term leases and 75 long-term leases.
- Long-term leases generate $30 million, and short-term leases generate $7 million.
- Nonprofit organizations frequently rent city-owned properties by submitting an application.
- DCAS manages the process and tries to find adequate space within its real estate portfolio for these nonprofits.
Lynn C. Schulman
0:33:51
So and can you described to me how the private rentals work of the city owned properties.
Dawn M. Pinnock
0:34:00
I'll have my deputy commissioner for real estate, Jesse Hamilton, respond.
Michael J.Ryan
0:34:05
Good afternoon, counsel.
0:34:06
Nick?
Gale A. Brewer
0:34:06
Good afternoon.
Jesse Hamilton
0:34:07
Deputy commissioner, Jesse Hamilton, And right now, we have about 350 short term leases and 75 long term leases.
0:34:17
The long term leases account for $30,000,000, and the short term leases account for $7,000,000.
Lynn C. Schulman
0:34:23
So who how does that but how's the program work?
0:34:26
Who's it rented out to?
0:34:27
What what are the qualifications?
0:34:29
All of that?
Jesse Hamilton
0:34:30
Like, using nonprofit organizations, let's say, city hall, 210 Geralyn Street, a lot of city owned buildings, we manage what is city in New York.
Lynn C. Schulman
0:34:40
Is there is are there opportunities for nonprofits organizations to rent these properties?
Jesse Hamilton
0:34:47
Sure.
0:34:48
All the time.
0:34:49
They they place an application in.
0:34:50
To our office, and then we try to find adequate space within our real estate portfolio.
Lynn C. Schulman
0:34:55
Okay.
0:34:55
I'd love to get the rules on that.
0:34:57
And because I have a lot of nonprofits in my district that asked me all the time or that we wanna rent some properties.