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Q&A
Discussion on support for small landlords and preservation initiatives
2:04:23
ยท
58 sec
Council Member Rita C. Joseph inquires about support available for small landlords and property owners. Acting Commissioner Ahmed Tigani outlines various programs and initiatives designed to assist smaller property owners.
- The J51 program is mentioned as a potential benefit for many buildings
- HPD has preservation term sheets available for different situations (rent-stabilized and non-rent-stabilized units)
- The agency can provide operating subsidies in some cases
- Connecting property owners with voucher holders is suggested as a way to ensure steady, reliable payments for operating costs
Rita C. Joseph
2:04:23
On on that on that note, what support do you have for small landlord, small business, small small landlord owners?
2:04:29
Is there any support?
Ahmed Tigani
2:04:31
There is.
2:04:31
I mean depending on the unit size, I get that not the belabor or beat a horse or whatever analogy that we were using before.
2:04:40
So the J 51 program which is something that I think a lot of buildings will be able to benefit from, will have to go back to the state legislature for renewal soon and we hope to have support for that.
2:04:54
Additionally, have talked about our preservation term sheets and depending on your situation whether you have rent stabilized units, non rent stabilized units, that's something where we have different ways of helping them.
2:05:05
There are term sheets for that.
2:05:07
And if it's operating subsidy, some of the best ways we are able to help is connecting people with vouchers into available units given the steady reliability of voucher payments for operating costs.
Rita C. Joseph
2:05:19
Thank you chair.