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Q&A
Council Member Restler questions HPD officials on budget allocations and state funding for housing
1:00:35
·
4 min
Council Member Lincoln Restler engages in a Q&A session with HPD officials, focusing on budget allocations for housing programs and the implementation of state funding for affordable housing in New York City. The discussion covers the role of Neighborhood Restore in managing properties, and the allocation of $1 billion in state capital funding for housing.
- Detailed explanation of Neighborhood Restore's responsibilities in managing properties during the Third Party Transfer (TPT) process
- Exploration of how the newly allocated $1 billion in state funding for housing will be distributed across various programs
- Discussion on the collaboration between city and state agencies in implementing housing programs and allocating funds
Lincoln Restler
1:00:35
And 79,000,000 for Neighborhood Restore, what does that cover?
1:00:41
Does and could you just speak to what staffing support that includes?
1:00:51
Right.
1:01:58
Okay.
1:01:59
Thank you very much deputy commissioner Dargo.
1:02:01
We've been joined by council members Avi Lace and Stevens and our public advocate Jomani Williams.
1:02:08
A couple more questions and then and and Gail Brewer, sorry, and Salam.
1:02:13
I'm sorry.
1:02:13
I'm not looking at the list.
1:02:14
I'm just looking at who's in front of me.
1:02:16
I apologize to the council members from Manhattan.
1:02:20
We are pleased to see that the state's enacted budget, and by we, the chair.
1:02:24
The chair is pleased to see that the state's enacted budget delivers on the commitment of 1,000,000,000 in capital funding for housing in New York City that we fought and negotiated for.
1:02:34
Half of the state's committed funds are for subsidies for new construction of affordable housing.
1:02:39
Will these how will these funds be allocated across your new construction programs?
1:02:43
And according to the budget legislation, funding will be pursuant to a plan approved by the state budget director.
1:02:48
Have you had any initial conversations with Blake or Ruth Ann or Commissioner Vaznauskas and what will that plan look like?
1:03:50
Too early to say any specific programs?
1:04:04
Would you be amenable to communicating with the chair and the committee on the potential programs that are going to be prioritized for this funding?
1:04:40
Okay.
Kim Darga
1:00:44
So that is so Neighborhood Restore is the interim owner of properties once they go through TPT.
1:00:51
They own the property until such time as the new assigned property manager developer can scope out the renovations, secure financing, further renovations, and take title.
1:01:07
That could be a couple years of interim ownership by property.
1:01:12
If there's litigation or other complicating factors, can take a look it could take longer.
1:01:17
So during that period of time, Neighborhood Restorer is responsible for making sure that any critical immediate repairs, they work with the property manager to make sure those happen.
1:01:29
If the cash flow from the building is insufficient to do it, they will front money for those critical immediate repairs.
1:01:36
They also, if there are bills that the revenue from the building can't cover, they will cover any expenses.
1:01:45
So making sure that there's utilities in the building.
1:01:50
There's heat during the winter.
1:01:53
Any of the critical systems and expenses would be covered during that interim ownership stage.
Ahmed Tigani
1:02:54
So we have not had so we've talked I have talked to HCR and Rutzan, Commissioner of Anascus, and I've talked to the Governor's Office and the administration certainly in communication.
1:03:09
We are still waiting the budget just passed.
1:03:11
We're still waiting to understand what the process will be for working through both the proposals and the advancement of approvals.
1:03:23
I would say that the state and the city has a pretty long history in working pretty collaboratively on this, whether it's the Affordable Homeownership Opportunity Program where we work together on homeownership dollars, our supportive housing projects where we're continuing to work together on that work.
1:03:39
On the new construction side, they're pretty established ways, especially with the office of with HCR and being able to advance these dollars.
1:03:52
Nothing was, yeah, nothing was outlined specific and that's good in the state legislation.
1:03:57
So we'll be working with them and hopefully using the same strategies that have worked well in the past to continue to bring those dollars into New York City.
1:04:10
Yeah, we would be happy to provide updates.
1:04:14
I think part of it also is to look at how there's always been a conversation about how our units of appropriation are set up.
1:04:21
We're going be looking sort of at the big picture, right?
1:04:24
Look at how things are framed out and we're able to fund and the flexibility we have on the local level, match that up with our ability to be and move with new construction funds at the state level and work together to figure out the best way to maximize those dollars the federal resources I mentioned earlier.