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QUESTION

How is the J51 program being targeted to benefit low-income housing?

0:38:22

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The J51 program is now targeting buildings that serve lower-income New Yorkers with the lowest rents.

Under the new program rules, rent data is being collected to determine eligibility
The goal is to preserve and maintain low-cost housing in good condition
The benefits are being targeted in a way they were not previously

Pierina Ana Sanchez

0:38:22

I mean, just in terms of of intent, I I think the council would probably want to see the buildings that are benefiting from, you know, benefiting from the J51 program, you know, targeting that incentive toward the most affordable lowest income, the buildings that are housing the most the lowest income new workers.

0:38:42

Right?

Kim Darga

0:38:42

Yep.

0:38:42

And

Lucy Joffe

0:38:43

that's absolutely the change that we've here.

0:38:44

Yeah.

0:38:45

Right?

0:38:45

So under the old program, we wouldn't have collected rents because that was not part of it, but this is we are going to be targeting that.

0:38:52

That's a huge part of the change for the same reason.

0:38:54

So here, we really do think we're targeting buildings that are serving lower income New Yorkers and that have lowest cost rents.

0:39:01

Helps us meet that goal of really helping preserve and keep those low cost buildings in good shape and really targeting the benefit in a way it wasn't before.

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What percentage of rent-regulated buildings participated in the previous iteration of the J51 program?