REMARKS
Key features and improvements of the new 3rd party transfer program
0:06:35
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120 sec
Council Member Sanchez outlines the key features and improvements of the new 3rd party transfer program proposed in Intro 1063, addressing the shortcomings of the previous program.
- Elimination of the 'block pickup' provision that led to non-distressed properties being included
- Stricter selection criteria to target only the most distressed buildings
- More stringent outreach requirements and transparent communication with all parties involved
- New opportunities for resident ownership, including a process for tenants to partner with qualified third parties
- Requirement for corrective action plans, not just payment plans, to ensure actual improvements in living conditions
Pierina Ana Sanchez
0:06:35
The new program eliminates the disastrous block block pickup provision.
0:06:40
The old program was found to include buildings not in distress.
0:06:44
The 2019 Council audit revealed that over 50 percent of properties selected for TPT were not in distress, pointing to possible misadministration of the program.
0:06:54
And 3 properties in particular had $0 in overdue DoF and DEP charges.
0:07:00
The new program selects only the worst buildings, those with the most unpaid municipal debt and the most open BNC or hazardous violations.
0:07:11
The old program, residents had residents claiming that there was no outreach until after the transfer.
0:07:16
There were lawsuits.
0:07:18
In the new program, there are more stringent requirements so that all parties, including all shareholders, within a cooperative building, for instance, not just the board, know their rights and receive transparent communication.
0:07:29
The old program resulted in racial concentration of transfers with the 2019 finding that 50% of round 10 properties were in just 11 low to moderate income communities of color out of a 195 neighborhoods in the city of New York.
0:07:46
The new program will have more rigorous outreach requirements and supports for owner occupied properties, off ramps for these properties in particular.
0:07:56
The old program attacked homeownership with an overrepresentation of owner occupied homes and the new program will create new opportunities for resident ownership, including a process that allows interested residents to partner with qualified third parties to submit a tenant application for ownership.
0:08:13
Finally, This might be my longest opening testimony, Apologies, colleagues.
0:08:18
Finally, the old program did not require repairs in order to exit the round, only payment or payment plans.
0:08:24
The new program requires corrective action plans.
0:08:30
We cannot leave New Yorkers to suffer living conditions dangerous to their health and safety.
