PUBLIC TESTIMONY
Testimony by Layla Law-Gisiko, President of The City Club of New York, on City of Yes for Housing Opportunity
2:51:24
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118 sec
Layla Law-Gisiko, president of The City Club of New York, criticizes the City of Yes for Housing Opportunity proposal, arguing that it fails to address the urgent need for affordable housing in New York City. She contends that the plan will primarily result in market-rate housing and may accelerate the demolition of existing rent-regulated units.
- Law-Gisiko challenges the assumption that increasing housing supply automatically leads to affordability
- She warns that the proposal could allow corporate landlords and venture capitalists to exploit the housing market
- The testimony suggests specific improvements, such as requiring affordability for FAR above 10 in R11 and R12 zoning districts
Layla Law-Gisiko
2:51:24
Good afternoon.
2:51:26
Thank you, Cheerajli, and members of the city council.
2:51:28
My name is Leila Lo Gizico, and I serve as the president of the city club of New York.
2:51:33
Yesterday, chair Goratnek is in this chamber laid out the reality of our housing market.
2:51:38
He said, and I quote, those who have resources compete against those who don't.
2:51:43
Usually, those with resources win.
2:51:46
And yet, city of yes is a proposal that promises changes but fails to bend the arc.
2:51:52
While well intention, the proposal fails to address the city's urgent need for affordable housing, many mistakenly believe that more housing automatically means more affordability.
2:52:03
This is a dangerous misconception.
2:52:05
The market cares little about our social needs.
2:52:08
Its mission is solely to maximize profits.
2:52:11
The proposal is expected to create approximately 7000 units per year most of them at market rate.
2:52:18
New York is already achieving this level of development without sacrificing air, light, or putting our historic buildings and rent regulated units at risk.
2:52:27
The plan relies on developers' willingness to prioritize their affordable housing but it is likely that it will accelerate demolition of existing rent regulated units.
2:52:37
It opens the door for corporate landlords and venture capitalists to infiltrate the housing markets driven by speculation rather than social responsibility.
2:52:47
Specifically, the R11 and R12 new zoning districts should demand that any SAR above 10 is affordable.
2:52:56
Currently, the plan does not make this provision.
2:52:58
The plan is both overly expansive in its negative impact and far too modest in its delivery of affordable housing.
2:53:06
While UAP has merit, we urge the city council to reject campus infills without Ulerp, dwelling unit factor change, landmarks transfer changes.
2:53:16
The city of yes is an imprecise tool that delivers the wrong results vote no on the city of yes.
