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Q&A
Transition of Live XYZ from SBS to OTI and potential impacts
1:30:37
ยท
93 sec
Council Member Feliz inquires about the transition of the Live XYZ program from SBS to OTI and its potential impacts on reporting storefront vacancies.
- The Live XYZ program was initially funded by SBS through FY 2025 but is moving to OTI.
- OTI submitted a capital needs request for the preliminary plan, which was not approved.
- Commissioner Gross emphasizes that Live XYZ is a unique resource providing critical insights.
- If Live XYZ becomes unavailable, SBS would rely on self-reported vacancy data from property owners collected by the Department of Finance, which is less comprehensive.
Oswald Feliz
1:30:37
More 10.5.
1:30:39
Yes.
1:30:40
Okay.
1:30:43
My understanding is that Live XYZ, which was initially funded by SBS is moving to OTI.
1:30:49
The SBS program was funded through FY 2025, but they're seeking to extend it through 2028.
1:30:56
OTA submitted a capital needs request for the preliminary plan, but it was not approved.
1:31:02
If FDF if OTI doesn't extend this contract, how will SBS continue to provide reporting on storefront vacancies without Live XYZ?
Dynishal Gross
1:31:11
So Live XYZ is really a unique resource and it's allowed us to have expanded insights into storefront occupancy throughout the city and also track change in vacancy rates and those insights are critical but if we didn't have them we would have to rely on a database of information that DOF collects.
1:31:35
This is self reported vacancy rec vacancy reports from the owners of tax lots in the city.
1:31:44
There's no obligation for property owners to share this data so it's not as complete as the survey that live XYZ provides but you know with if we lost that resource we would rely on the DOF reporting and potentially insights from partners that could help us have some understanding of vacancy within say our business improvement districts.