Q&A
HPD's efforts to improve regulatory agreements for affordability
2:05:01
·
91 sec
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 ongoing support for homeownership projects.
- HPD has refined regulatory agreements to more closely align with affordability goals
- Newer regulatory agreements are more closely tuned to target AMIs
- HPD is excited about partnering with CLTs and other groups to provide ongoing support for homeownership projects
Ahmed Tagani
2:05:01
You know, whether through CLT or otherwise, even in our own regulatory agreements, like, over the years, we've learned how to respond to issues that we've seen in our own regulatory agreements.
2:05:12
You know, we've continued to refine and make tighter and and tie more closely to the promise of affordability and the intention and goals.
2:05:19
So especially now as we work with buildings, whether through new or refinancing and preservation work, most of those limitations are more closely tuned to the AMIs that we're, you know, trying to commit.
2:05:32
So you see less of that in the newer in the buildings with newer regulatory.
Diana Ayala
2:05:36
Yeah.
2:05:36
I mean, I just think that if the DLT, like, you know, Cooper Square is already there, we could learn, right, from some of their best practices.
2:05:44
And and utilize some of that that data to help support.
2:05:48
Right?
2:05:48
The not only the redevelopment, the for the preservation of the Till buildings that are still left on the pipeline.
Kim Darga
2:05:54
Yeah.
2:05:54
We one of the areas where we I mean, we, you know, we are absolutely excited to have new partners coming to the table.
2:06:01
A lot of the CLT groups are newer in this space, and we need as many partners as we can to do the work that we have.
2:06:08
One of the things that I think we're most excited about is on homeownership projects that you have another group there that can help provide ongoing support over time, ensure, you know, that the coop is complying with the regulations, but also provide the technical and financial support if necessary.
2:06:29
So we also agree that there's some real benefit there.
Diana Ayala
2:06:32
Absolutely.
