Q&A
Council Member Brooks-Powers questions HPD on homeownership investment and specific projects
1:30:46
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121 sec
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 of HPD-financed units designated for homeownership since 2014 and in the current pipeline
- Asks about homeownership units in the Arbor East development and measures to benefit local residents
- Requests data on homeownership versus rental term sheets used in HPD-funded projects
- Questions if a higher threshold than 6% for homeownership units should be considered
Selvena Brooks-Powers
1:30:46
Thank you, chair, thank you speaker for this much needed piece of legislation, and hello, HPD.
1:30:54
I will start by saying thank you for recently helping to cut through some red tape with getting someone into a new home.
1:31:02
So I do wanna acknowledge that.
1:31:04
I'm gonna ask all of my questions first so that I know that they'll they'll get answered.
1:31:09
I will repeat whatever you need.
1:31:13
The first thing is as a com prime sponsor of intro 958, I'm concerned about the lack of investment by HPD and homeownership units.
1:31:24
Only 3% of affordable units that HPD has financed citywide since 2014 are for homeownership.
1:31:33
What percent of units currently in the HPD pipeline are designated for homeownership?
1:31:42
Next, the Auburn East development, which we've spoken about before privately, but just on the record wanting to ask this question.
1:31:51
The Albany's development on the Rockaway Peninsula is set to feature 1650 units, including homeownership opportunities.
1:32:00
How many homeownership units does HPD intend to finance as a part of the Auburn East Initiative?
1:32:09
What measures has HPD taken to ensure as many residents in my district as possible?
1:32:15
Are able to benefit from the home ownership opportunities as a part of Arbor And East.
1:32:20
I'd also like to get an update on the next phase of Arbor And East with the home ownership, making sure that we have that commitment for the next phase to still include homeownership.
1:32:35
And if not a reason why, does HPD have data on how many homeownership versus rental term sheets are used on a HPD funded project year over year.
