REMARKS
Overview of HPD's homeownership initiatives and programs
1:43:07
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3 min
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 new homeownership information classes and the work of the homeowner advocate
- Discusses collaboration with housing ambassadors and other city agencies to support homeowners
- Highlights the importance of rent stabilization in maintaining neighborhood cohesion and economic diversity
- Explains the role of down payment assistance as a flexible tool to help prospective homeowners
Ahmed Tagani
1:43:07
And just I'm gonna move into a I think we agree strategically.
1:43:12
It's not one of the others, dubos.
1:43:14
We are focused obviously on the lowest barrier to get people immediately shelter in housing, but also I think you point out we we know that New Yorkers wanna be homeowners.
1:43:24
I'm we have an obligation to give them the information and make sure they know how to get on that pathway to do that.
1:43:30
And so first of all, you know, thank you for, you know, working with us on the home ownership homeowner advocate bill.
1:43:38
I actually have with us here assistant commissioner Jenny Vale, who is our homeowner advocate.
1:43:43
And I wanted to talk about a little bit of the work that she is doing.
1:43:48
You had mentioned what resources we have to help in the system owners.
1:43:52
We've already talked through the homeowner help desk and that the work that they're gonna do through the 5 boroughs.
1:43:56
But in addition to that, HVD is currently launching a new set of new home ownership information classes that works in tandem and parallel to that work, owning a home in NYC, specifically for homeowners, or press prospective homeowners.
1:44:12
This is in addition to working and expanding the work of the 20 homeownership counselors funded by HUD and continuing to get education and out to the 60 or so housing ambassadors in and around New York City.
1:44:27
You know, we I know we have at least one in your district.
1:44:31
And I think we've been talking to them about working more to get information that they may need and we'll continue to connect them with the office of the homeowner advocate to make sure we're doing robust programming there.
1:44:43
The other thing that I think is important to note is that when we work with homeowners, it's not only through HPD.
1:44:49
So whether it's Department of Finance, DEP, it's it's not siloed approach.
1:44:55
We are constantly talking as agencies together.
1:44:58
How do we triggy issues that come up, how do we get information out to be prospective about that?
1:45:04
And I think on the displacement side, you know, the issue of New Yorkers not being able to grow and live in the neighborhoods that they many of them help build is something that drives everyone to work every day here at HPD.
1:45:18
You know, I always point to the fact, and we've talked about this at the housing vacancy housing vacancy survey that rent stabilization is probably one of the most critical tools that we've had.
1:45:27
To make sure that we are maintaining neighborhood cohesion and economic diversity.
1:45:31
That's something that in a city that's 2 third rental was a big priority to make sure that we're defending the changes to the 2019 rent stabilization law.
1:45:42
Further advance the protections there.
1:45:44
And as we continue to create stability there, to your point, can't just do one or the other, where it gives us the opportunity in the space to think about how do we help those who want to continue to pathway.
1:45:54
So you have people who have starter homes looking to build into larger homes, and you have people looking for starter external starter homes.
1:46:02
And there's a number of ways that we can do that with HBV, but as the deputy commissioner said, Part of this is outside HPD's privacy.
1:46:10
We can provide the down payment assistance, but if interest rates are separately high, it's hard for them to get the end loans to be able to move into that space.
1:46:17
We can help prepare them.
1:46:19
We can help create more housing.
1:46:21
But we need to really give them the tools to be ready when the market piece is there.
1:46:26
And that's where we come down to down payment assistance, which is a fraction of the cost of creating new housing, happens in a slower timeline and can be activated faster and help people now.
1:46:37
Especially when you're talking about trying to align the outside market forces that change, you need the fastest and swiftest tool to be able to put them in the position to get into homeownership.
