Q&A
Inquiry into Universal Affordability Preference (UAP) and affordability levels
3:36:00
·
58 sec
Council Member Hanif inquires about the Universal Affordability Preference (UAP) program, focusing on affordability levels and potential requirements. Chair Garodnick provides insights into the program's design and expected outcomes.
- Hanif asks about requiring a percentage of UAP units to be affordable at 30-40% AMI, similar to MIH Option 1
- Garodnick explains that income averaging in UAP is designed to capture deeper affordability while maintaining a 60% AMI average
- The chair expresses openness to further discussions on affordability levels
- Garodnick reveals that if UAP had been in place over the past decade, it would have created about 20,000 affordable units, housing approximately 50,000 New Yorkers
Shahana Hanif
3:36:00
Thank you for sharing.
3:36:03
And then has the administration considered requirements for a certain percentage of units under UAP to be affordable at 30 to 40 percent EMI similar to how NIH option 1 requires an overall average of 60 percent EMI.
3:36:18
And a minimum of 10 percent housing affordable at 40 percent AMI.
Daniel Garodnick
3:36:24
So we proposed it as we did because we thought that with income averaging, we were able to capture deeper affordability and while landing at that average of 60%.
3:36:36
But we understand that there's some interest in this and we'll look forward to having that conversation with you.
Shahana Hanif
3:36:42
Wonderful.
3:36:42
And then Do you have account of the amount of affordable housing we would have by neighborhood over the past decade if UAP were in place?
Daniel Garodnick
3:36:54
I do.
3:36:54
20,000 units enough to house about 50,000 New Yorkers.
