PUBLIC TESTIMONY
Testimony by Kevin Wolfe, Deputy Director for Advocacy and Public Affairs at the Center for New York City Neighborhoods
2:56:32
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142 sec
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 to spur new development and addresses the racial wealth gap in homeownership.
- Wolfe stresses the necessity of the targets outlined in Intro 958 to encourage new development and tools in NYC's homeownership market.
- He mentions the Center's work on black homeownership and the widening racial wealth gap in NYC.
- Wolfe outlines a strategy to increase pathways for renters to become homeowners, including increased capital spending and policies for homeownership unit creation.
Kevin Wolfe
2:56:32
Great.
2:56:33
Good afternoon.
2:56:33
My name is Kevin Wolfe.
2:56:35
I am the deputy director for advocacy and public affairs at the Center for New York City Neighborhoods.
2:56:41
I first of all would like to thank Speaker Adams as well as share Rafael Salamanca for holding this hearing today.
2:56:50
And I would also like to just acknowledge the leadership speaker Adams that you've had questions at home ownership, whether it be the estate planning initiative that you push forward, as well as supporting the the work that we do with foreclosure prevention.
2:57:08
And now this hearing today, a new home ownership creation is extremely important.
2:57:13
I did want to just we have a full testimony that we're going to be submitting, but I wanted to highlight 2 things.
2:57:20
First of all, you've heard today from HPD how hard it is to develop new affordable homeownership.
2:57:27
But that is precisely why we need the targets that you've outlined in intro 958.
2:57:34
We're hoping that these targets can spur the capacity for new development and new tools in New York City's home ownership market and our ecosystem.
2:57:43
But given that it is hard without these targets, we'll just continue to do what we've been doing up until this day.
2:57:51
The second and and, of course, Moses, he laid out a you know, and detail the numbers, and he's really an expert on that.
2:57:57
So I'm not gonna go through that.
2:57:59
But I did want to just say, for the second item, we are working on at the center black homeownership and the widening racial wealth wealth gap and homeowners disparities in New York City.
2:58:12
And so this is this new legislation is a part of a strategy to increase pathways for renters to become homeowners, by increasing capital spending for homeownership construction by promoting new policies to create homeownership units at the same level.
2:58:29
And then finally, as HPD has mentioned, by making sure that existing homeowners can stay in their homes through the home fix program, through your support at the city council for foreclosure prevention work and providing housing counseling and legal services to avoid scams.
2:58:47
Without further ado, I will turn it back over and submit the balance of my testimony to the committee.
