Q&A
Discussion on NYAA's position regarding the 3rd party transfer program
2:57:50
·
35 sec
Council Member Pierina Ana Sanchez inquires about NYAA's position on the 3rd party transfer program. Adam Roberts responds that while they would like to see improvements, there are larger financial issues affecting building seizures.
- Roberts explains that most NYAA members pay their taxes and water bills
- He notes that when buildings are seized, it's often by banks due to loan repayment issues
- The discussion highlights the complexity of the program and its impact on property owners
Pierina Ana Sanchez
2:57:50
So is your position that no version of this program should exist?
Adam Roberts
2:57:56
I I would say that certainly we would like to see it improved, but there are much larger financial issues behind why these buildings are being seized by the city than simply the way this program is structured.
2:58:10
And frankly, most of our members are paying their taxes.
2:58:13
They are paying their water bills.
2:58:15
And if their buildings are being seized, which many of them are now, it's mostly by banks because they took out a loan to maintain the building or purchase the building, and they're no longer able to repay the loan.
