Your guide to NYC's public proceedings.
REMARKS
Council Member Brewer expresses concerns about non-profits and her stance on the bill
0:50:35
·
54 sec
Council Member Gale A. Brewer concludes the discussion by expressing her concerns about the bill's impact on non-profit developers and her overall stance on the proposed legislation.
- Brewer highlights that for-profit developers with market-rate units have more financial flexibility to absorb the costs associated with the bill.
- She expresses specific concern for non-profit developers who build 100% affordable housing projects.
- Brewer reveals that she hasn't signed on to support the bill due to her concerns about its impact on non-profit developers, while still wanting other developers to comply with the proposed requirements.
Gale A. Brewer
0:50:35
I don't know.
0:50:35
But when it's a 20% MIH, the developer has the market to carry some of this.
0:50:40
So when it's a 100% nonprofit, there isn't that delta.
Ahmed Tigani
0:50:44
If it's a So Yes.
0:50:46
Sorry.
0:50:46
Goes to 20% NIH and, again, the
Gale A. Brewer
0:50:49
Oh, whatever.
0:50:49
You know?
Ahmed Tigani
0:50:50
Yeah.
0:50:50
No.
0:50:50
No.
0:50:50
No.
0:50:50
No.
0:50:51
Of course.
0:50:51
Whatever the the the plays between market and affordable.
0:50:55
Part of it is not only the split in the market income versus the income, restricted income.
0:51:00
It's also the geography that commands certain market rent.
0:51:03
So that's part of what goes into the operating costs.
0:51:07
That figure out whether or not you can make certain construction costs and then later permitting costs like building service workers work.
0:51:15
And so that is the other part of the equation where
Gale A. Brewer
0:51:18
Okay.
0:51:19
I mean, I guess my feeling would be This is me.
0:51:21
That's why I haven't signed on.
0:51:22
I am concerned about the nonprofits, but I want everybody else to pay.
0:51:27
That's just me.
0:51:28
Thank you.