New York City Council
Committee on Land Use
Sep 19, 2024
·
11:00 AM
3 hr 2 min
Summary
A hearing on Intro 958, a bill sponsored by Speaker Adrienne Adams to increase affordable homeownership opportunities in NYC.
Discussions focused on:
- HPD's three-pronged strategy for homeownership
- Concerns about the bill's 6% target for homeownership units
- Racial disparities in homeownership
- Limited equity models
- Balancing homeownership with rental housing production given resource constraints
Features testimony from the Department of Housing Preservation and Development (HPD) and the public.
Meeting chapters
Read summaries and watch videos for short segments that matter to you.
Council Member Salamanca opens committee meeting and introduces items for vote
Council Member Rafael Salamanca Jr. opens the committee meeting by welcoming attendees and introducing the main agenda item, Intro 958, which aims to expand affordable homeownership opportunities. He then proceeds …
0:00:54
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3 min
Vote outcome: All items adopted unanimously
The vote resulted in a unanimous adoption of all items as described by the chair. The outcome was as follows: - Yeas (In favor): 9 - Nays (Against): 0 - …
0:05:59
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9 sec
Council Member Salamanca introduces hearing on Intro 958 to increase affordable homeownership
Council Member Rafael Salamanca, Jr. introduces a hearing on Intro 958, sponsored by Speaker Adrienne Adams, which aims to increase affordable homeownership opportunities in New York City. He outlines the …
0:14:20
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144 sec
Council Member Adrienne Adams introduces legislation to increase affordable homeownership opportunities
Council Member Adrienne Adams introduces and explains her proposed legislation, Intro 958, which aims to increase affordable homeownership opportunities in New York City. She discusses the importance of homeownership for …
0:19:00
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4 min
Introduction and context of NYC housing emergency
Kim Darga, Deputy Commissioner of the Office of Development at HPD, introduces herself and sets the context for the testimony on Intro 958. She acknowledges the ongoing housing emergency in …
0:24:04
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37 sec
Current housing crisis statistics in NYC
Deputy Commissioner Darga presents a series of statistics illustrating the severity of the housing crisis in New York City, focusing on rental affordability and availability issues. - Rental vacancy rate …
0:24:41
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124 sec
HPD's recent achievements in housing production
Deputy Commissioner Darga highlights HPD's recent accomplishments in addressing the housing crisis, emphasizing record-breaking production numbers and a focus on the most vulnerable populations. - Set new records for new …
0:26:47
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65 sec
HPD's strategy: Retaining and stabilizing existing homeowners
Deputy Commissioner Darga outlines the first prong of HPD's three-pronged strategy for homeownership, focusing on retaining and stabilizing existing homeowners through various programs and initiatives. - Programs include Homeowner Help …
0:27:52
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71 sec
HPD's strategy: Increasing access to existing homeownership opportunities
Deputy Commissioner Darga explains the second prong of HPD's homeownership strategy, which focuses on increasing access to existing homeownership opportunities through down payment assistance. - Expanded the Home First program, …
0:29:05
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50 sec
HPD's strategy: Creating new homeownership opportunities
Deputy Commissioner Darga outlines the third prong of HPD's homeownership strategy, which focuses on creating new homeownership opportunities for low, moderate, and middle-income New Yorkers. - Open Door program and …
0:29:56
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46 sec
Challenges in increasing homeownership production
Deputy Commissioner Darga highlights the resource-intensive nature of homeownership programs and the need to balance these efforts with other pressing housing priorities. - Open Door homes require roughly twice as …
0:30:44
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67 sec
Response to Intro 958 and concerns about rigid requirements
Deputy Commissioner Darga addresses Intro 958, expressing support for its goals while raising concerns about the proposed rigid requirements and their potential impact on HPD's ability to address housing needs …
0:31:53
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103 sec
Upcoming initiatives and closing remarks
Deputy Commissioner Darga introduces the upcoming City of Yes for Housing Opportunity initiative and provides closing remarks, emphasizing collaboration with the City Council. - City of Yes for Housing Opportunity …
0:33:37
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48 sec
Open Door program statistics and financing challenges
Council Member Adrienne E. Adams inquires about the HPD's Open Door program, and Deputy Commissioner Kim Darga provides statistics and explains challenges in financing affordable homeownership projects. - Open Door …
0:34:35
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153 sec
Application statistics for homeownership opportunities
Deputy Commissioner Kim Darga provides statistics on applications for homeownership opportunities through HPD programs. - Approximately 350 applications received per homeownership unit - Since 2020, about 228,000 applications have been …
0:37:08
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53 sec
Breakdown of Open Door public sites versus private sites
Deputy Commissioner Kim Darga explains the distribution of Open Door projects between public and private sites. - About three-quarters of the Open Door pipeline consists of public sites - Public …
0:38:02
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38 sec
Geographic distribution of Open Door projects
Deputy Commissioner Kim Darga provides information on the geographic distribution of Open Door projects across New York City. - Open Door projects have been financed in every borough of New …
0:38:39
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17 sec
Criteria for determining if a proposal fits HPD financing programs
Deputy Commissioner Kim Darga explains the criteria HPD uses to determine if a new construction proposal fits their financing programs, particularly for Open Door. - Alignment with program term sheet …
0:38:57
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79 sec
Factors influencing neighborhood selection for Open Door projects
Deputy Commissioner Kim Darga and First Deputy Commissioner Ahmed Tagani explain the factors that influence HPD's decisions on where to build affordable housing units through the Open Door program. - …
0:40:15
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146 sec
Impact of additional $55 million funding for Open Door program
Deputy Commissioner Kim Darga explains the estimated impact of the additional $55 million in annual funding for the Open Door program. - With the current cost of about $410,000 per …
0:42:41
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30 sec
Factors enabling deeper affordability in some Open Door developments
Deputy Commissioner Kim Darga explains the factors that enable HPD to reach deeper levels of affordability in some Open Door developments. - New affordable homeownership opportunities generally target 80-120% of …
0:43:13
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140 sec
Challenges in meeting the 6% homeownership requirement of Intro 958
Deputy Commissioner Kim Darga and First Deputy Commissioner Ahmed Tagani explain the challenges HPD foresees in meeting the 6% homeownership requirement of Intro 958. - Concerns about unintended consequences of …
0:45:33
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6 min
HPD's plans for new affordable homeownership programs
Deputy Commissioner Kim Darga and First Deputy Commissioner Ahmed Tagani discuss HPD's plans and initiatives to support the development of affordable homeownership. - Expansion of existing programs like Home Fix …
0:51:56
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4 min
Home First down payment assistance program statistics and improvements
Deputy Commissioner Kim Darga provides statistics on the Home First down payment assistance program and discusses recent improvements and future plans. - In the last decade, just under 1,000 first-time …
0:56:14
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161 sec
Criteria for determining property suitability for HPD's financing programs
Council Member Salamanca inquires about how HPD determines if a property is suitable for their financing programs, particularly the Open Door program. HPD officials Kim Darga and Ahmed Tagani provide …
0:58:57
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4 min
HPD's outreach efforts for affordable homeownership applicants
Council Member Salamanca inquires about HPD's outreach efforts for low and moderate-income New Yorkers applying for affordable ownership units. HPD officials detail their multi-faceted approach to outreach and assistance. - …
1:03:07
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3 min
Expanding HPD programs to support new homeowners under Intro 958
Council Member Salamanca inquires about how HPD's programs supporting low and moderate-income homeowners would need to be expanded to meet the needs of additional New Yorkers who would become homeowners …
1:06:35
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100 sec
Financial requirements for implementing Intro 958
Council Member Salamanca asks for specific financial details about implementing Intro 958, and HPD officials provide a detailed breakdown of the resources required. - Last year, HPD financed 15,695 units, …
1:08:15
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110 sec
HPD's efforts to secure additional state funding for homeownership
Council Member Salamanca inquires about HPD's efforts to secure additional funding from the state for homeownership programs during their annual 'tin cup day' visits to Albany. - HPD officials note …
1:10:05
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101 sec
HPD's specific requests for increased homeownership funding
Council Member Salamanca presses HPD officials on their specific actions to request more funding for homeownership programs from the state. - HPD has requested a greater percentage of AF funds …
1:11:46
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45 sec
Prioritizing homeownership in communities with significant affordable housing
Council Member Salamanca raises the issue of prioritizing homeownership in communities that have already built significant affordable housing, asking how HPD can shift focus in these areas. - HPD acknowledges …
1:12:31
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3 min
Council Member Diana Ayala questions HPD on homeownership units and specific projects
Council Member Diana Ayala engages in a Q&A session with Kim Darga from HPD, discussing the status of homeownership units in New York City. They cover topics including the number …
1:16:19
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4 min
Council Member Sanchez highlights low homeownership rates and racial disparities
Council Member Pierina Ana Sanchez discusses the low homeownership rates in New York City, particularly in minority communities. She emphasizes the stark contrast between her district's 6% homeownership rate and …
1:20:31
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103 sec
HPD's efforts to increase access to homeownership through down payment assistance
Kim Darga, Deputy Commissioner of HPD, explains the department's efforts to increase access to homeownership, focusing on their down payment assistance program and advocacy for more flexible loan authorities. - …
1:22:16
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112 sec
Concerns about limited homeownership production and program accessibility
Council Member Sanchez expresses concerns about the limited homeownership production in certain districts and the need for targeting lower AMI levels in HPD's programs. - Sanchez points out that only …
1:24:08
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117 sec
Challenges in expanding homeownership programs and potential LIHTC conversions
Kim Darga explains the challenges and resource requirements for making Open Door and Home First programs accessible to lower-income households, as well as the potential for converting LIHTC subsidized rentals …
1:26:06
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4 min
Council Member Brooks-Powers questions HPD on homeownership investment and specific projects
Council Member Selvena Brooks-Powers expresses concerns about HPD's lack of investment in homeownership units and asks several questions about specific development projects and homeownership opportunities. - Inquires about the percentage …
1:30:46
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121 sec
HPD officials respond to questions on homeownership units and historical context
HPD officials, including Kim Darga, respond to Council Member Brooks-Powers' questions about homeownership units and provide historical context for HPD's homeownership programs. - Clarify that 2,130 homeownership units were financed …
1:32:47
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3 min
Discussion on barriers to including homeownership in Arbor East development
Council Member Brooks-Powers and HPD officials discuss the barriers to including homeownership units in the next phase of the Arbor East development. - HPD cites resource limitations and the need …
1:36:41
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67 sec
HPD explains resource allocation challenges for homeownership projects
Kim Darga from HPD provides a detailed explanation of the resource allocation challenges faced when trying to finance homeownership projects alongside other affordable housing initiatives. - Illustrates the cost of …
1:37:48
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3 min
Debate on balancing homeownership opportunities with rental housing needs
Council Member Brooks-Powers and HPD officials debate the importance of creating homeownership opportunities alongside rental housing, highlighting different perspectives on addressing housing needs in New York City. - Council Member …
1:41:41
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86 sec
Overview of HPD's homeownership initiatives and programs
Ahmed Tagani from HPD provides a comprehensive overview of the department's homeownership initiatives and programs, emphasizing their commitment to both immediate housing needs and long-term homeownership opportunities. - Introduces the …
1:43:07
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3 min
Discussion on HPD's approach to mixed rental and homeownership buildings
Council Member Amanda Farías inquires about HPD's approach to offering financing opportunities for mixed rental and homeownership buildings. Kim Darga from HPD explains that while there's no dedicated term sheet …
1:47:07
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3 min
Impact of inflation and interest rates on project financing and timelines
Council Member Farías raises concerns about backlogs on closings and maintaining approved financing for projects. Kim Darga from HPD explains the challenges posed by inflation and rising interest rates on …
1:50:13
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149 sec
Overview of HPD's closing processes and volume
HPD officials provide an overview of their closing processes and the volume of transactions they handle annually. They explain the variety of housing assistance programs they manage and the factors …
1:52:42
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140 sec
Preservation efforts for Mitchell-Lama cooperatives and challenges in maintaining affordability
Council Member Farías inquires about HPD's efforts to preserve Mitchell-Lama cooperatives and address challenges in maintaining affordability. HPD officials explain their strategies and the complexities involved in managing these properties. …
1:55:03
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4 min
Questions about TIL program and ANCP progress
Council Member Diana Ayala inquires about the TIL program and the progress of the Affordable Neighborhood Cooperative Program (ANCP). HPD officials provide information on the number of buildings financed and …
1:59:39
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69 sec
ANCP costs, AMI targeting, and budget discussion
HPD officials discuss the costs and budget for the Affordable Neighborhood Cooperative Program (ANCP), highlighting its low AMI targeting and high per-unit costs. Council Member Diana Ayala expresses concern about …
2:00:49
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143 sec
Discussion on Community Land Trust model and HDFC concerns
Council Member Diana Ayala expresses support for the Community Land Trust (CLT) model and raises concerns about HDFC buildings being sold at high prices. HPD officials discuss the balance between …
2:03:19
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100 sec
HPD's efforts to improve regulatory agreements for affordability
HPD officials discuss their efforts to improve regulatory agreements to better maintain long-term affordability. They also express openness to working with Community Land Trusts (CLTs) and other partners to provide …
2:05:01
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91 sec
Home First Down Payment Assistance Program details and potential expansion
Council Member Diana Ayala inquires about the Home First Down Payment Assistance Program, including its AMI requirements and potential for expansion. HPD officials discuss recent changes and plans for the …
2:06:32
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87 sec
Overview of HPD's new homeowner resources and information
HPD officials provide an overview of newly launched homeowner resources, including a revamped informational web page and expanded services. These initiatives aim to support both current and prospective homeowners. - …
2:07:59
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94 sec
Home First program funding and call for increased federal support
Council Member Diana Ayala inquires about the funding for the Home First program. HPD officials provide details on current funding sources and amounts, and emphasize the need for increased federal …
2:09:33
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62 sec
Council member inquires about federal and state funding for homeownership programs
Council Member Selvena Brooks-Powers questions HPD officials about federal and state funding for homeownership programs in NYC. The discussion covers various funding sources, including HUD, HOME funds, and state programs, …
2:10:44
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3 min
Testimony by Alysha Habib, Housing Counselor at Chhaya CDC
Alysha Habib, a housing counselor at Chhaya CDC, testifies in support of Intro 958, emphasizing the challenges faced by first-time homebuyers in New York City. She highlights the lack of …
2:15:49
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126 sec
Testimony by Brendan Cheney, Director of Policy and Operations at New York Housing Conference
Brendan Cheney, representing the New York Housing Conference, testified in support of affordable homeownership initiatives while expressing concerns about HPD's ability to meet specific targets. He emphasized the importance of …
2:18:01
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126 sec
Testimony by Anthony Coker, Homeownership Program Manager at Neighbors Helping Neighbors
Anthony Coker, representing Neighbors Helping Neighbors and Fifth Avenue Committee, testifies in support of increasing affordable homeownership opportunities in New York City. He emphasizes the importance of homeownership in addressing …
2:20:11
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178 sec
Testimony by Margy Brown, Executive Director of Urban Homesteading Assistance Board (UHAB) on Affordable Homeownership
Margy Brown, Executive Director of UHAB, testified in support of increasing affordable homeownership opportunities in NYC, emphasizing the importance of preservation and inclusion of low-income New Yorkers in homeownership plans. …
2:23:46
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151 sec
Testimony by Matthew Dunbar, Chief Strategy Officer of Habitat for Humanity, New York City and Westchester County on Affordable Homeownership
Matthew Dunbar, representing Habitat for Humanity, expresses support for the proposed bill to increase affordable homeownership opportunities in NYC. He recommends adjustments to the bill to better serve low-income families …
2:48:36
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110 sec
Testimony by Jamie Smarr, CEO of New York City Housing Partnership, on Affordable Homeownership
Jamie Smarr, CEO of New York City Housing Partnership, expressed support for Intro 958 while urging the council to take a more comprehensive approach to affordable homeownership in NYC. He …
2:50:43
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137 sec
Testimony by Moses Gates, Vice President of Housing and Neighborhood Planning at Regional Plan Association
Moses Gates from the Regional Plan Association expressed support for Intro 958 and highlighted the urgent need for affordable homeownership in New York City. He emphasized the benefits of limited …
2:53:37
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155 sec
Testimony by Kevin Wolfe, Deputy Director for Advocacy and Public Affairs at the Center for New York City Neighborhoods
Kevin Wolfe from the Center for New York City Neighborhoods testifies in support of Intro 958, emphasizing the importance of affordable homeownership in NYC. He highlights the need for targets …
2:56:32
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142 sec
Testimony by Yoselin Genao-Estrella, Executive Director of Neighborhood Housing Services of Queens CDC
Yoselin Genao-Estrella, Executive Director of Neighborhood Housing Services of Queens CDC, expressed strong support for the proposed legislation to increase affordable homeownership opportunities in NYC. She emphasized the importance of …
2:59:08
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125 sec
