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AGENCY TESTIMONY
Need for increased capital investment in housing development
0:14:12
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40 sec
Comptroller Lander emphasizes the critical need for additional capital investment in housing development programs. He outlines specific recommendations for funding and implementation.
- Calls for an additional capital investment of $2.5 billion over the next 5 years
- Proposed investment would fund construction and preservation of affordable, community-controlled homes (both ownership and rental)
- Aims to provide stability and wealth-building opportunities for low-income and working-class New Yorkers
- Stresses the importance of ensuring HPD (Department of Housing Preservation and Development) effectively distributes funds in communities
- Identifies housing affordability as the most critical issue facing many New Yorkers and the city's economy
Brad Lander
0:14:12
The city now needs to increase capital funding in a couple of other areas, especially critical housing development programs called for in the council's budget response and also cuts identified in the recent, work by New York Housing Conference.
0:14:27
An additional capital investment of 2,500,000,000 over the next 5 years would fund the construction and preservation of affordable community controlled homes, both ownership and rental, providing stability and wealth building opportunities for low income and working class New Yorkers.
0:14:42
We need to put that money in the budget.
0:14:44
We need to make sure HPD gets it out in communities.
0:14:48
That is the most critical issue facing so many New Yorkers and our economy.