Q&A
Discussion on the definition of distressed properties for the TPT program
1:04:59
·
60 sec
Council Member Sanchez inquires about potential changes to the definition of distressed properties in the proposed bill for the Third Party Transfer (TPT) program. The discussion focuses on the criteria used to identify eligible properties for the program.
- The current definition primarily considers financial arrears and property liens
- The conversation touches on the need for a clear methodology to select properties for each round of the program
- Council Member Sanchez seeks clarification on additional criteria HPD might use to determine the number of properties included in each round
Pierina Ana Sanchez
1:04:59
So just getting getting into the nitty gritty one wanting to understand and and just share out for the public how how we're talking about the definition of distressed properties.
1:05:10
So first question, is there is there any are there any other changes that you would make to the definition of distressed property as as written in the bill?
1:05:18
And then second, you mentioned that you would like to have HPD have discretion as to the number of properties that are entering each round of the program.
1:05:30
So what what how would HPD be interested in in selecting those properties?
1:05:36
Specifically because we're we're talking about a a new proposed methodology that only has thresholds around the financial the financial rears, you know, the the the liens that the property has, and then is indexing.
1:05:50
So how how would you what what additional criteria would you use to decide?
1:05:55
It should be 500 or 2,000,000 properties in around?
