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Council Member Sanchez inquires about HDFC interventions

2:30:03

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Council Member Pierina Ana Sanchez asks the panel about specific interventions that could help stabilize HDFCs (Housing Development Fund Corporations). Paula Segal responds, deferring to a colleague for more detailed written comments but highlighting key points.

Emphasis on the importance of new regulatory agreements for HDFCs
Need for support in bylaw compliance and property management
Acknowledgment of forthcoming written comments on HDFC interventions

Pierina Ana Sanchez

2:30:03

Thank you so much.

2:30:08

I think you answered my question.

2:30:10

I think you all answered all my questions, but let me just double check.

2:30:13

A general question on HDFCs, and by the way, to all your organizations, to the 3 of you, thank you for all of your feedback coming into this hearing.

2:30:35

It's it is much appreciated.

2:30:37

For HDFCs, do you have particular interventions that you think would be useful or helpful?

2:30:44

To helps to help to stabilize them.

Paula Segal

2:30:53

I actually wanna defer a little bit.

2:30:55

My colleague, Mike Grenthahl, isn't here, but he's hopefully gonna be submitting written comments on exactly that point.

2:31:02

I'm gonna nudge him and let him know this was on the record, but the opportunity to enter into a new regulatory agreement is crucial formally, but there is a lot on the back end that needs to happen to support folks in following their own bylaws and understanding compliance, and making sure they have good relationships with their property managers.

2:31:24

Thank thank

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Testimony by Salvatore D'Avola, Executive Director of Neighborhood Restore Housing Development Fund Corporation, on the 3rd Party Transfer Program