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Long-term benefits of TPT program despite high initial costs
2:18:13
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41 sec
Council Member Sanchez emphasizes the long-term benefits of the Third Party Transfer (TPT) program, despite its high initial costs.
- While the program may have high upfront costs during its relaunch, it is expected to generate increased revenues for New York City over time
- The TPT program will add properties back to the tax roll, improving the city's fiscal health
- Sanchez argues that prioritizing this program is beneficial for both safeguarding New Yorkers' health and safety and improving the city's financial situation
- She suggests that the program's benefits make it worthwhile for current and future administrations to prioritize its implementation
Pierina Sanchez
2:18:13
No, thank you.
2:18:14
I appreciate that, and I think it's also worth noting that we're talking about a program that has a very high, will have a very high upfront cost as we relaunch, right.
2:18:24
But then over time, we're talking about increased revenues for the city of New York.
2:18:28
We're talking about adding properties back to the tax roll.
2:18:31
So there's every single argument for this administration, the next administration, whoever it is to really prioritize this you know, both to safeguard New Yorkers health and safety, but also you know the fiscal health of the city of New York.
2:18:46
I get to ask all my questions now, yes.
2:18:49
Okay, unless my colleagues have other questions, but they'll let me know.