Your guide to NYC's public proceedings.
REMARKS
Council member Sanchez emphasizes need for TPT program reform
2:13:34
ยท
76 sec
Council Member Sanchez stresses the importance of reforming the Third Party Transfer (TPT) program to effectively address negligent landlords and protect tenants in distressed buildings.
- Sanchez cites specific examples of problematic properties in various districts
- She emphasizes the need for a 'stick' approach to deal with negligent property owners
- Sanchez inquires about future cost projections for the reformed program, considering rising costs and the focus on the most negligent landlords
- She asks for a breakdown of increased funding needs by expense versus capital categories
Pierina Sanchez
2:13:34
Okay.
2:13:36
Thank you.
2:13:36
And just to, you know, we're continuing to have this conversation, but you know I think council member Joseph's frustration with buildings just taking advantage of Ebsalom in council member de la Rosa's district, the owners of 2002 And 1 Davidson in my district.
2:13:53
These folks cannot continue to own properties in the city of New York with us you know not having the stick, right.
2:13:59
The ultimate stick of taking that the property away after a fair process.
2:14:03
So I really look forward to getting this to the finish line.
2:14:06
And just, I think you answered a couple of these, but just a couple of looking forward questions in terms of where the program could go.
2:14:14
You mentioned some of these, but we have rising costs, we have proposed reforms that are focused on the most negligent landlords in the most distressed buildings, right.
2:14:22
We're not gonna be capturing some of those, the kinds of properties that we captured in round 10, which weren't actually all that distressed.
2:14:30
And we have a new legal landscape.
2:14:32
So when you cite the, know when you predict forward cost of $250,000 per unit, are you taking this into account, these dynamics into account?
2:14:44
And what increased funding would you need broken down by category of expense versus capital?