REMARKS
Announcement of the 'Homes Now' campaign for affordable housing investment
0:11:30
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119 sec
Council Member Sanchez announces the 'Homes Now, Homes for Generation' campaign, which calls for a significant investment in affordable homeownership and preservation of rent-stabilized units. She highlights the key programs that would benefit from this investment.
- The campaign calls for a $2 billion capital investment, separate from current capital plans
- It aims to quadruple the city's investments in affordable homeownership
- The investment would focus on the OpenDoor Program and the Neighborhood Pillars program
- Sanchez expresses hope for collaboration with the administration on this proposal
Pierina Ana Sanchez
0:11:30
Thank you so much, public advocate, all the things you said.
0:11:35
Before I turn it over to our committee council, I also want to highlight Why is the I see, I hear there's an echo.
0:11:46
Sergeant's, I don't know.
0:11:51
Is this better?
0:11:52
Oh, no.
0:11:59
How about this one?
0:12:01
Alright.
0:12:02
So what we're gonna do, I'm gonna move over one of my 25 screens.
0:12:07
Okay.
0:12:08
Thank you.
0:12:09
So before I turn it over to committee council, I also want to highlight that this morning prior to the hearing that progressive caucus joined by elected officials from all all across the city.
0:12:19
Our board presidents are public advocate, the controller, many members of of this council, labor, organizations, and affordable housing advocates across the city of New York.
0:12:30
We announced the homes now homes for generation campaign, which calls for a $2,000,000,000 investment separate and apart from investments currently in the capital plan, a $2,000,000,000 capital investment to quadruple the city's investments and affordable homeownership and make good on the city's promise to prevent the displacement of thousands of tenants by preserving rent stabilized units.
0:12:51
Specifically, we're looking to increase funding for the Opendoor Program of finance, which finances new construction of multifamily shared equity cooperatives and the Neighborhood Pillars program, which I know HPD loves.
0:13:04
Neighborhood Pillars helps community organizations, including MWD developers, acquire and rehabilitate for profit owned housing.
0:13:12
And I will leave it at that and hope to hear commentary on these these 2 existing initiatives at HPD, and if the administration has a perspective on this time, on this ambitious, but doable proposal that we can achieve in collaboration.
0:13:26
Thank you, and I will now turn it over to our committee counsel.