REMARKS
Council Member Brannan introduces Finance Committee meeting and agenda items
0:00:08
·
3 min
Council Member Justin L. Brannan, chair of the Finance Committee, opens the meeting and outlines the agenda for the day. He provides details on five items to be voted on, including four property tax exemptions and a transparency resolution.
- The property tax exemptions involve Article 5 and Article 11 exemptions for buildings in various council districts, with rent restrictions and set-asides for formerly homeless tenants.
- The transparency resolution designates and changes designations for organizations receiving local aging and youth discretionary funding.
- Council members are reminded to disclose any conflicts of interest with organizations listed in the transparency resolution.
Justin L. Brannan
0:00:08
Thank you, Sergeant.
0:00:13
Good morning.
0:00:13
Welcome to today's finance committee meeting.
0:00:15
I'm council member Justin Brandon, and I blame the r train for my lateness.
0:00:18
I have the privilege of chairing the committee on finance.
0:00:21
We've been joined this morning by council members, Sanchez, Hudson, Salam Brewer, Fabius, Powers, Carr, And do we help you from all of them?
0:00:33
Oh, Hank.
0:00:33
Sorry.
0:00:33
Hank's and and Moi on Zoom.
0:00:35
Sorry.
0:00:36
And sorry, Moi on Zoom.
0:00:39
Today, the committee will be voting on 5 items, 4 property tax exemptions and a trans currency resolution.
0:00:44
First 2 property tax exemption resolutions are an amendment, an extension of an existing partial 40 year article 5.
0:00:52
For one building in deputy speaker Ayala's district, the amendment is to align the existing article 5 with present terms for HPD's multifamily program term sheet, and the extension will continue the article 5 for another 40 year period.
0:01:07
As part of the exemption, all units will continue to be capped at 50% AMI with 30% of the units now set aside for homeless tenants along with completing identified capital work and improvements.
0:01:20
The next resolution is for a partial 40 year article 11 exemption for one building and council member salam's district.
0:01:27
As part of the exemption, the building will enter into an HPD regular for a agreement restricting rents to 50 percent AMI with 30% of the units set aside for formally homeless tenants and requiring completion of immediate and short term repairs.
0:01:41
HPD light touch or attention and stabilization services will also be provided on-site as part of the agreement.
0:01:48
The last resolution is for a new partial 40 year article 11 exemption for one building also in council member salam's district.
0:01:56
As part of the exemption, the building will enter into an HPD regulatory agreement, restricting rents to 50 percent AMI, with 30% of the units set aside for formally homeless tenants.
0:02:06
HPD light touch retention and stabilization services will also be provided on-site as part of the agreement.
0:02:12
And the building will complete identified immediate and short term repairs.
0:02:17
Finally, the transparency resolution sets forth a new designation and changes in the designation of certain organizations receiving local aging and youth discretionary funding.
0:02:27
And funding pursuant to certain initiatives in the budget.
0:02:30
As with all transparency resolutions, council members will have to sign a disclosure form indicating whether or not a conflict exists with any of the groups on the attached list.
0:02:38
If a council member has a potential conflict of interest with any of the organizations listed, They have the opportunity to disclose the conflict at the time of their vote.
0:02:46
As a reminder, please disclose any conflicts you may have with proposed subcontractors used by organizations sponsored by discretionary funding.
0:02:54
Disclosures must be made before the subcontract can be approved.
0:02:59
Disclosure forms must be completed and submitted prior to the vote on the transparency resolution and may be emailed to Everton Smith, who is also present in chambers today to answer your questions.
0:03:10
Are there any comments or questions from my colleagues on these items?
0:03:14
No.
0:03:14
Okay.
0:03:15
We've also joined by council member Stevens, and now I'm gonna ask and and council member Brooks Powers.
0:03:20
And now I'm gonna ask I'm gonna and council member Ayala, and now I'm gonna ask Billy Martin to call the role.