PRESENTATION
Overview of the City of Yes for Housing Opportunity proposal
0:25:19
·
154 sec
Garodnick introduces the City of Yes for Housing Opportunity proposal, explaining its core principles and how it aims to address the housing crisis in New York City. He emphasizes the citywide approach and the potential impacts of the proposal.
- The proposal is a citywide text amendment to zoning regulations
- It aims to make it possible to build a little more housing in every neighborhood
- The approach is designed to have a big impact in aggregate without dramatic changes in any one neighborhood
- Garodnick emphasizes that zoning is one tool among many to address the housing shortage
- The proposal is presented as part of a broader strategy that includes subsidies, tax incentives, homeownership support, and tenant protections
Daniel Garodnick
0:25:19
Let's talk about the details here.
0:25:21
City of Yes for housing opportunity.
0:25:22
It is a citywide text amendment.
0:25:24
So a change to our zoning techs that would make it possible to build a little more housing in every neighborhood.
0:25:30
By building a little more in every neighborhood, means that we can have a big impact in the aggregate on our housing shortage without dramatic changes in any one neighborhood, and that's important.
0:25:41
Next.
0:25:44
How do we do this in zoning?
0:25:45
Well, City of Yes aims to update our zoning rules to create more housing and more types of housing across all New York City neighborhoods.
0:25:56
Again, this means a lot more in the aggregate, but without dramatic change or over tax infrastructure in our neighborhoods.
0:26:05
This approach can address the root causes of our housing costs, support job growth, the city's economy and, of course, support our climate goals by creating more housing opportunity in 1 of America's least carbon intensive cities.
0:26:19
Next slide.
0:26:21
Zoning's one tool.
0:26:23
It's one tool as the speaker noted.
0:26:25
This is one tool we can use to address our housing shortage, not the only tool, but it's an important one.
0:26:30
Zoning regulates density and use.
0:26:33
It can include requirements for income restricted affordable housing, but of course zoning itself does not directly build or fund new housing.
0:26:42
It is a regulatory set of rules that defines what can be built where, It's entirely within the control of the city of New York in contrast to some proposals that we have seen over time.
0:26:55
But this is not the only thing that can help us solve our housing crisis.
0:26:59
We need subsidies and tax incentives to create affordable housing.
0:27:03
We need support for homeownership models.
0:27:05
We need tenant protections.
0:27:06
These are all important.
0:27:07
Next slide.
0:27:10
And I will note that That is the approach that we are taking.
0:27:14
Of course, look forward to continuing this conversation with the council.
0:27:17
We have constructed and preserved over 28,000 affordable homes in fiscal year 2024.
0:27:23
We've invested $2,000,000,000.
0:27:25
We're investing $2,000,000,000 in HPD and NICE over the next 2 years.
0:27:29
We're cutting red tape, accelerating housing production with initiatives like our green fast track and our office conversion accelerator unlocking billions for repairs in NICA developments through the preservation trust and pact, and there's a new tenant protection cabinet working to better connect tenants to resources, to develop long term strategies to support them.
0:27:49
So zoning is an important piece.
0:27:51
But certainly not the only piece here.
0:27:53
Next slide.
