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Q&A
Introduction to the Affordable Housing Services Program
1:30:23
ยท
80 sec
Commissioner Molly Wasow Park introduces the Affordable Housing Services Program, a new initiative to support affordable housing acquisition and services. The program aims to facilitate the purchase of buildings for long-term affordable housing.
- The program is described as a project-based CityFHEPS contract, similar to project-based Section 8
- Contracts include rental assistance, maintenance and operation dollars, and light touch social services
- Three non-profits acquired four buildings over the summer, which were quickly leased to clients from the DHS shelter system
- The program offers both lease and ownership models for non-profits
Molly Wasow Park
1:30:23
Okay.
1:30:24
So a program that we have rolled out recently that we are really excited about is our affordable housing services program.
1:30:35
Essentially what this is is a project based city FEPS contract.
1:30:39
Know you're very familiar with project based Section eight.
1:30:41
It is mimicking that structure, although the contracts include in addition to the rental assistance some maintenance and operation dollars and light touch social services.
1:30:53
We had three not for profits acquire four buildings over the summer.
1:30:58
It was terrific because those buildings were fully leased up with long term stay or clients coming out of the DHS shelter system within matter of weeks.
1:31:08
We have other projects in the pipeline.
1:31:11
This is a finite budget, but happy to talk to Goddard about whether or not Windermere would be an appropriate
Lily Shapiro
1:31:16
candidate.
Gale A. Brewer
1:31:17
Okay.
1:31:17
And these are buildings that the nonprofit owns or does it matter?
Molly Wasow Park
1:31:22
We have both a lease and ownership model, but the ones that I mentioned from over the summer were were acquisitions.
Gale A. Brewer
1:31:28
Good.
1:31:28
This is all acquisition also.
1:31:30
Okay.
1:31:30
So we can do it.
1:31:31
Yes?
Molly Wasow Park
1:31:33
I need we need to the devil's always in the details.
1:31:35
Okay.
1:31:36
We have to look at whether or not we have sufficient budget capacity as well as the details around the acquisition, but we are happy to talk to Goddard about whether or not this is a good candidate.
Gale A. Brewer
1:31:44
Okay.