John Krinsky
0:54:12
Good morning, chair Brennan, committee, and all committee members.
0:54:18
My name is John Krinsky.
0:54:19
I'm a professor of political science and public policy at the City College of New York in the CUNY Grad Center.
0:54:25
I'm also a cofounding board member of the New York City Community Land Initiative, but I come here on my own behalf.
0:54:30
Nicely, I will be submitting its own testimony to thank you for hearing intro 782 and 783 and urge, passage of those and also, the other legislation in front of the committee.
0:54:44
I wanted to, just, mention as well, in my testimony, which I I've submitted, written testimony, that this has a much longer history.
0:54:55
I worked at the housing policy and research division of the Community Service Society from 1993 to 1996 and saw the transition to the tax lien sale from the earlier system of tax foreclosure from the perspective of efforts to forestall disinvestment and abandonment of housing.
0:55:11
Back then, as the city and its real estate market recovered from the long crisis that began in the late 19 sixties, tax delinquent properties, which had been nearly valueless, were instead becoming very valuable.
0:55:23
Tax delinquency was understood, however, to be an early warning sign of trouble, whether because of the more obvious financial instability of housing or because of the deeply deteriorating conditions for tenants.
0:55:35
And tenants are an important piece of this, that we're not really addressing too much today.
0:55:41
It was clear to us then that cooling liens and selling them as investments would make it harder for the city to build on the success of its community based nonprofit housing programs that enable some of the worst buildings to more enter more easily enter city and then community ownership.
0:55:56
The specificity of conditions would be hidden in effect by the focus on the value of the lien and dissolved in the larger pool.
0:56:04
Having a nearly 30 year perspective on a city policy that's persisted in the face of evidence of its racial disparities, facilitation of deed fraud, and increasing hardship on people.
