Q&A
Council member Feliz inquires about Open Door program and homeownership units
1:37:28
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164 sec
Council Member Feliz inquires about the Open Door program, which focuses on creating affordable homeownership opportunities. Commissioner Carrión and First Deputy Commissioner Tigani provide information on the number of units built and the program's funding.
- 177 units were produced in calendar year 2023 under the Open Door program
- $474 million has been allocated for the program over a 10-year plan
- Down payment assistance has been increased from $40,000 to $100,000
- The program has been expanded to include middle and moderate-income families
Oswald Feliz
1:37:28
So my questions relate to home ownership programs in our setting.
1:37:33
As a lifelong New Yorker, I've seen so many families work hard.
1:37:37
To move up the economic ladder.
1:37:39
And when people move up the economic ladder, they think about owning a home, everyone thinks about owning a home.
1:37:46
That's usually people's goals.
1:37:47
And as the life of New York, I saw many friends become professionals, teachers, lawyers, doctors, and after becoming professionals, We lost them.
1:37:55
We lost them to another city or another state and etcetera.
1:37:59
Why again, because we didn't provide them with the opportunity to purchase a home in the community that they've always called their home.
1:38:06
So a few questions on that.
1:38:08
We have the open door program, which focuses on creating a homeownership, affordable homeownership.
1:38:15
So how many units of housing have we built under the open door program?
1:38:19
In the last 2 years?
1:38:21
And also, can you give a breakdown of the amount of units per barrel?
Adolfo Carrión Jr.
1:38:26
So let me do you have those numbers handy, Mister Tigani?
1:38:30
Because
Ahmed Tigani
1:38:31
Yes.
1:38:31
So producing calendar year 23 is 177.
1:38:36
And we have 474,000,000 over the 10 year plan has been mentioned.
1:38:40
I think it's important to say because as you pointed out, access to homeownership is the main question here.
1:38:47
We talked earlier about the ANCP program.
1:38:50
That in itself is a $613,000,000 commitment over the 10 year plan.
1:38:56
We've talked about the 78 buildings in place that will in the future offer very affordable homeownership opportunities for New Yorkers.
1:39:04
Additionally, we have naturally occurring homeownership opportunities in the HDFCs, in all our boroughs, and making sure people have the opportunity with down payment assistance has been a big piece.
1:39:17
It's the reason why we've invested so much to go from 40 $1000 to a $100,000 in down payment assistance.
1:39:24
So the reason why we expanded the parameters to include middle and moderate families, I In addition to putting our public sites up where we have hundreds of units in the pipeline, some in your district as well, including the other barrels, We need to make sure that there is an ability for homeowners to go after homeownership opportunities in other ways.
1:39:44
Down payment assistance is a very effective from a cost perspective way of us achieving that.
1:39:50
And the mayor had committed to expanding that, and now we're well on our way to doing that.
1:39:55
Through the down payment assistance program.
Oswald Feliz
1:39:58
So 177 units in the last year, can you give a breakdown by Burrell?
Ahmed Tigani
1:40:03
I I I don't have that with me, but we will
Adolfo Carrión Jr.
1:40:06
provide for those numbers.
1:40:07
Yes.
1:40:07
Yeah.
1:40:07
We can provide that for you.
Oswald Feliz
1:40:09
Okay.
1:40:09
Yeah.
1:40:09
If you could send that that information, I'll draft hearing that would be great.
Ahmed Tigani
1:40:12
Absolutely.
