PUBLIC TESTIMONY
Testimony by Matthew Dunbar, Chief Strategy Officer of Habitat for Humanity, New York City and Westchester County on Affordable Homeownership
2:48:36
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110 sec
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 and allow for more flexibility in achieving the 6% homeownership goal.
- Suggests lowering the income threshold (AMI percentage) to include more low-income families
- Recommends adjusting internal targets for more flexibility in creating ownership opportunities
- Proposes a comprehensive strategy including converting rental units and light tech buildings to achieve goals efficiently
Matthew Dunbar
2:48:36
Thank you so much.
2:48:37
My name is Matthew Dunbar.
2:48:38
I'm the Chief Strategy Officer of Habitat for Humanity, New York City and Westchester County.
2:48:42
And I would like to thank the speaker, Jerry Salamanca, and the entire committee for your passion and enthusiasm.
2:48:49
Reportable homeownership, the mission that our organization has been committed to for 40 years, serving over 2600 families with our home building and preservation programs.
2:48:59
And we want to express our support for this bill and the goal to meet a 6% goal of of homeownership financing in the overarching goal.
2:49:09
However, we we do have a couple recommendations including lowering the floor, family served, and this is percent AMI so that organizations like ours who are committed to serving low income families will be able to serve and count those families within the target goal and economically feasible.
2:49:27
As well as potentially adjust the internal targets to allow for more flexibility for HPD to reach the goal by utilizing a more diverse set of solutions to create these ownership opportunities We believe that the 6% goal will create incentive for a comprehensive affordable homeownership strategy that would focus on converting rental units, light tech buildings and other assets in order to achieve achieve these goals and create affordable homeownership in a more economically efficient way and a scalable way that will increase the number of homeownership units across the city.
2:50:05
I'd be happy to submit in writing.
2:50:07
As I'm legally blind, I can't tell if if my time is up.
2:50:11
I will submit a full briefing in writing that will elaborate on various policies and strategies that the council and the city can take in order to create that comprehensive suitable home ownership approach.
2:50:25
Happy to take questions.
