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Q&A
Discussion on historical costs of the Third Party Transfer (TPT) program
2:07:21
ยท
118 sec
Council Member Sanchez inquires about the historical costs of administering the Third Party Transfer (TPT) program, and Acting Commissioner Ahmed Tigani provides some financial data points.
- Total spending on the TPT program through 2023 was around $79 million, with the city collecting $35 million in municipal charges
- For Round 10 of the program, the average capital cost was $164,000 per unit
- Neighborhood Restore, a partner organization, spent about $24.4 million for Round 10
- Additional costs include $400,000 annually for emergency funding to keep buildings habitable
Pierina Sanchez
2:07:21
So first off, looking backward, what was the cost for HPD to administer the program on average in past years or past rounds rather?
2:07:31
If you can break down the cost by category, so for instance how much stabilization capital was HPD pouring into buildings that went through third party transfer?
2:07:40
How many staff were dedicated to making the program work and internally within the agency?
2:07:47
And if you can give us any sort of indication in terms of what were the volume of buildings that we're talking about with these cost estimates or rather cost look backs and if we have any information on the average, yeah the average number of violations that these buildings had that went through third party transfer in the past.
Ahmed Tigani
2:08:08
So chair I think we're gonna have to come back with certain data points on that.
2:08:12
There are some that I can give you now looking at Route 10 specifically.
2:08:18
So first from the inception of the TPT program through the end of twenty twenty three, you know, we've spent somewhere around 79,000,000 on that program.
2:08:28
The city does collect some municipal charges.
2:08:31
The city collected 35,000,000 over that time and then specifically for round 10 costs.
2:08:37
It was about $164,000 per unit on capital on average plus tax exemption on top of that.
Pierina Sanchez
2:08:43
Sorry could you repeat that?
2:08:44
Number of $164,000
Ahmed Tigani
2:08:47
in capital per unit on average.
2:08:50
You asked specifically for the tax exemption piece that I don't have.
2:08:53
And then there's other assistance like the staff support and other pieces that we'll try and get back to you on.
2:09:02
Neighborhood Restore, which is our partner in this, spent about 24,400,000.0 for round 10.
2:09:09
And then there's about 400 k annually funded for emergency funding.
2:09:13
So making sure the buildings are still habitable and moving forward.
2:09:18
Mean, I'm not sure if I missed anything.
Kim Darga
2:09:19
Yeah.