QUESTION
What is the typical duration for litigating and fully resolving a 7A proceeding?
1:30:52
·
78 sec
The council member asks about the typical timeframe for litigating and fully resolving a general 7A proceeding from start to finish. The deputy commissioner overseeing financing programs at the Housing Preservation and Development agency cannot provide specifics on the 7A enforcement process timelines, but acknowledges the agency's efforts to monitor these proceedings and work to stabilize operations in those buildings.
- The deputy commissioner states her oversight is limited to financing programs, not enforcement like 7A proceedings
- She confirms the agency closely monitors 7A buildings and works with lenders to stabilize operations
- While unable to give details on 7A proceeding durations, she recognizes some have resulted in third-party transfer
Oswald Feliz
1:30:52
So just curious, How long does a general 7 day proceeding take to litigate and fully resolve from beginning to end?
1:31:02
I know it rages.
1:31:02
I was a tenant lawyer depending on but generally.
Kim Darga
1:31:05
Yeah.
1:31:06
So I oversee the financing programs, not the enforcement programs at HPD, so I can't really speak to the 7A process.
1:31:13
I do know that the agency is working very closely to monitor that portfolio.
1:31:21
And including with lenders.
1:31:25
And this is across both the asset management team and the development team to try to figure out how do we stabilize operations there.
Oswald Feliz
1:31:37
Okay.
1:31:37
Have we ever seen 7 day proceedings lead to the conversion of homeownership programs in these buildings that are grossly mismanaged by landlords or different processes not related to each other.
Kim Darga
1:31:51
Yeah.
1:31:52
I mean, I have I certainly don't know the full universe of 7 a buildings, so I can't speak to that.
1:31:57
I I know 7 7 a buildings have ended up in 3rd party transfer in the past, and those buildings have had the ability to petition.
1:32:05
Outside of that, I don't really have knowledge of that issue.
Oswald Feliz
1:32:08
All right.
1:32:09
Thank you.
