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Discussion on limited equity co-op conversion and maintenance payments

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      Council Member Hanks inquires about the potential conversion to a limited equity co-op and how maintenance payments would compare to post-rehabilitation rents. Kerry LaBotz from HPD is unable to provide specific answers due to uncertainties about the building's operational needs and financing.

      • HPD cannot provide specific comparisons between maintenance payments and post-rehabilitation rents at this time
      • The focus is on ensuring that rents and maintenance costs remain affordable for tenants
      • HPD aims to prevent rent burden or maintenance cost burden for tenants in the future