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TESTIMONY

Chloe Sarnoff, Director of Policy Research and Initiatives at Robin Hood Foundation, on City of Yes for Housing Opportunity and its impact on affordable housing

5:19:55

·

3 min

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Chloe Sarnoff from the Robin Hood Foundation expresses strong support for the City of Yes for Housing Opportunity initiative, urging the City Planning Commission to approve these zoning reforms. She emphasizes the critical nature of the housing crisis in New York City and explains how the proposed changes could benefit low-income residents.

Highlights the severe housing crisis in NYC, with a 1.4% vacancy rate and 43% of households being rent-burdened
Argues that City of Yes for Housing Opportunity is an essential part of addressing the housing crisis, though not a complete solution on its own
Suggests that the initiative could create opportunities for low-income families with rental assistance vouchers to access newer units in higher-opportunity neighborhoods

Strong support for City of Yes for Housing Opportunity
New York City's housing and affordability crises have reached a breaking point
The housing crisis most severely harms the lowest income New Yorkers
City of Yes for Housing Opportunity is an essential part of solving the housing crisis
The initiative will create opportunities for low-income families with rental assistance vouchers to access newer units in higher opportunity neighborhoods
Support for accompanying efforts to improve the search process for voucher holders
City of Yes for Housing is a central component of a regional commitment to increase housing supply
Support for the initiative alongside efforts to increase stability for low-income New Yorkers

[EXPERIMENTAL]

Which elements of City of Yes for Housing Opportunity were discussed in this testimony?

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When an element is explicitly stated in the testimony (e.g. "Universal Affordability Preference" or "UAP"), the analysis is accurate.

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Chloe Sarnoff

5:19:55

Good afternoon, everyone.

5:19:56

My name is Chloe Sarnoff, and I am the Director of Policy Research And Initiatives the Robin Hood Foundation, 1 of New York's largest poverty fighting organizations.

5:20:04

On behalf of Robin Hood, I am here to express our strong support for City of Jasper Housing Opportunity and to urge the city planning commission to support these critical zoning reforms that will allow for the creation of more housing in every neighborhood.

5:20:17

New York City's housing and affordability crises have reached a breaking point with a vacancy rate of only 1.4% the lowest in 56 years approximately 43% of New York City households being rent burdened, it's clear our existing policies are unsustainable.

5:20:30

Rent burdened families are to spend more than 30% of their income on rent alone, leaving little room for other essential needs.

5:20:37

While the housing crisis affects all New Yorkers, it most severely harms the lowest income New York and those experiencing housing instability.

5:20:44

Analysis from Robinhood And Columbia's property tracker data shows that rent burden, New Yorkers, and poverty aren't just spending 35 or 40% of their income on housing.

5:20:53

Rent is usually eating up 70% of their cash income each month.

5:20:58

There is no single bullet to New York's housing crisis.

5:21:00

Meeting the needs of low income New Yorkers requires increasing the supply of affordable housing and providing more support for tenants today.

5:21:08

These two objectives are the centerpiece of Robinhood's housing policy agenda, and we urge policymakers across New York City And State to exhaust every tool at their disposal to advance both housing supply and tenant growth.

5:21:20

City of Yes for Housing Opportunity is one such tool.

5:21:24

Some have questioned whether City of Yes for Housing Opportunity does enough to create a production pipeline for deeply affordable housing.

5:21:31

This is an important question for Robin Hood and our partners as we are focused on meeting the needs of the poorest New Yorkers.

5:21:37

Robinhood's response is that citywide zoning amendments can only do so much.

5:21:43

On its own city of yes for housing, will not create a sufficient pipeline for deeply affordable housing or completely solve our crisis, but it is an absolutely essential part of the puzzle.

5:21:52

Alongside investments in rental assistance, tax credits, and other production and financing tools.

5:21:58

Importantly, City of Yeswarehouse will also create opportunities for low income families with rental assistance factors to access newer units in higher in higher opportunity neighborhoods.

5:22:08

And should also help reduce the barriers that low income value for holders face searching for apartments.

5:22:14

Over time, this will help reduce shelter stays for sold researchers will currently top more than 400 days.

5:22:20

Robinhood would be interested and supportive of accompanying efforts to improve the search process for our holders, including funding to hire additional staff to process vouchers at DSS and staff at CCHR to investigate reports of source of income discrimination.

5:22:34

Robinhood believes City of Yes for Housing is a central component of what should be a regional commitment to significantly increase housing supply.

5:22:41

We support City of Yes for housing alongside efforts to increase instability for low income New York workers, including eviction prevention, rental assistance, and housing quality improvements.

5:22:50

City of Yes for Housing gives New Yorkers access to an updated toolbox of resource is to help meet the current needs and promote equity by enabling the construction of warehousing.

5:22:58

Thank you, please.

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