Daniel Garodnick
1:20:38
Thank you for that question.
1:20:39
I think it's really important because this is the most pro housing policy in the history of New York City zoning.
1:20:48
We've never attempted to do something like this.
1:20:53
It's the first time that a mayorial administration is taking action to create new housing in every neighborhood from the lowest density to the highest density.
1:21:03
And I think it's worth recognizing that for a moment.
1:21:06
In contrast, you know, the one of the last citywide text amendments when I sat among you all in the council zoning for quality and affordability, ZQA.
1:21:18
It largely left low density areas unchanged and opted to focus on medium and high density areas only.
1:21:26
It lifted some parking mandates.
1:21:30
It created the air's density bonus.
1:21:35
But this is directly related to the cost of housing for New Yorkers.
1:21:42
And with a 1.41 percent vacancy rate, it is a result of our failure to deliver not just in the last 2 or 5 or 10 years, but over many, many decades.
1:21:54
So opening the door and zoning, creating a little more housing in every neighborhood, it will meaningfully reduce the cost for New Yorkers, but will note that we have not We have not done this before.
1:22:07
Our affordability program within CDBS, our affordability preference, it'll be the largest income restricted affordable housing program in New York City zoning history, and with the deepest affordability.
1:22:21
For the changes that we're making here.
1:22:23
So this is directly related to zoning.
1:22:26
We wanna do the things that we can do in zoning while recognizing that there are other things that we cannot do in zoning that we should continue to talk about.
