REMARKS
Overview of the Home Preservation and Debt Resolution Reform Act
0:10:07
·
40 sec
Speaker Adams provides an overview of Introduction 962, the Home Preservation and Debt Resolution Reform Act, sponsored by Council Member Justin Brennan.
- The act aims to reform the city's process for collecting unpaid property taxes
- It shifts focus from debt collection to debt resolution, providing protections for at-risk homeowners
- The act establishes a process to explore alternatives to the city's use of securitized trusts
Adrienne E. Adams
0:10:07
Introduce introduction, 962, sponsored by council member Justin Brennan, advances the resolution and enforcement of property tax collection and preservation of housing for certain properties throughout comprehensive reform of the city's process to collect unpaid property taxes and payments.
0:10:24
It shifts the focus from debt collection to debt resolution with multiple off ramps and small and strong protections for at risk homeowners to maintain their assets and housing its stability and safeguards for tenants in affected large buildings.
0:10:39
It also establishes a process to advance alternatives to the city's use of securitized trust with a clear mandate and timeline.
