AGENCY TESTIMONY
Recent history of rental payment requests
2:20:19
·
93 sec
The testimony outlines the recent history of rental payment requests by different NYC administrations, highlighting variations in approach and amounts requested.
- From 1985 to 2015, mayors consistently requested rental payments
- The De Blasio administration requested partial payments in some years and no payments in others
- The Adams administration did not request payments in 2022-2023, but later requested a partial payment of $145 million for 2024
- The city plans to charge the maximum annual rental payment from 2025 through 2028, around $300 million each year
- The justification for recent rental payments has been to help cover the rising costs of caring for asylum seekers
Jordan Paige
2:20:19
In recent years, the city's use of the rental payment has varied.
2:20:23
Preferring to city fiscal years here, every year from 1985 to 2015, Maryland Administration's requested the rental payment.
2:20:31
In 2016, notably, when the city saw strong revenue collections, the De Blasio administration requested only a partial rental payment.
2:20:39
The city did not request rental payments for the next 3 years.
2:20:43
When the city faced financial uncertainties during the pandemic in 2020, 2021 that the Blasio administration requested partial rental payments.
2:20:53
Under the Adams administration, there were no rental payments in 20222023.
2:20:58
The rental payments were assumed midway through 2024.
2:21:02
The Adams administration requested a partial rental payment of a $145,000,000,
James F. Gennaro
2:21:07
which they didn't do in FY 24.
2:21:09
They waited until the next year, and then they reached back.
2:21:13
We were still in 24, but they reached back And so they did the combined 24.25 for a total of 440,000,000, which you're probably gonna talk about.
Jordan Paige
2:21:23
So this collection of the rental payment was predicated on the basis that city needed help covering the rising cost.
James F. Gennaro
2:21:30
Oh, I I I lost you again.
2:21:32
When the city okay.
2:21:33
Under the administration, hang on.
2:21:36
Oh, this was predicated.
2:21:37
Right?
2:21:37
That's what I'm saying.
2:21:38
Okay.
Jordan Paige
2:21:39
This was predicated on the basis that the city needed help covering the rising cost of caring for asylum seekers.
2:21:46
But IPO's revenue and its men's forecast painted a less dire financial picture than the administrations.
