Q&A
Provisions in the proposal directly impacting affordability
1:22:36
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79 sec
Chair Garodnick outlines specific provisions in the zoning proposal that directly impact affordability and the development of affordable housing. He emphasizes that creating more housing opportunities will lead to more affordable options.
- Garodnick mentions the creation of opportunities for HPD and non-profit developers
- He highlights the reduction of AMI levels for the universal affordability preference
- The chair stresses the importance of increasing housing supply to address affordability
Kevin C. Riley
1:22:36
Beyond seeking to address the need for more housing supply overall, what provisions of proposal directly impact affordability or the development of affordable housing?
Daniel Garodnick
1:22:49
It's important to note that by creating opportunity, you're creating opportunity for HPD, you're creating opportunity for not for profit developers, We are creating the sorts of apartment buildings that tend to be less expensive to build, and will therefore be more affordable for more people.
1:23:16
And so and by driving down the AMI levels for our universal affordability preference from 80% to 60% We are creating more affordability I'm sorry.
1:23:29
From Priya, we're creating more affordability opportunities by allowing NIH at 40% to be its own standalone option.
1:23:36
We're creating more affordability for New Yorkers.
1:23:38
But the big point here is that creating supply, opening the door, enabling an option for New Yorkers to be able to have some leverage when negotiating with the landlord on the price of their own rent.
1:23:53
Supply is mission critical.
