Your guide to NYC's public proceedings.
Q&A
Deputy Commissioner Darga details costs of previous TPT rounds and staffing estimates
0:57:48
·
71 sec
Deputy Commissioner Kim Darga provides information on the costs incurred from previous rounds of the Third Party Transfer (TPT) program, focusing on Round 10. She breaks down the major expenses and provides estimates for future costs.
- Darga estimates that about $79 million has been spent to support Neighborhood Restore since the program's inception
- The biggest costs to date have been staffing to administer the program across multiple city agencies
- Future renovation costs are estimated at approximately $250,000 per unit, an increase from previous amounts
- Darga notes that city capital has been the other major expense in the program
Lincoln Restler
0:57:48
And just to be clear, you have no new info on the costs incurred from the previous rounds today that you can share with us?
Kim Darga
0:57:56
So I'm happy to go through round 10.
0:58:00
I don't have going back to the inception of the program, but if there are particular components, we can certainly talk that through.
0:58:07
The biggest costs to date have been around staffing to administer the program.
0:58:15
That's HPD, Department of Finance, DEP, and the city law department.
0:58:20
There's also been support for Neighborhood Restore.
0:58:25
We expect that through from the inception of program, it's been about $79,000,000.
0:58:32
That's gone to support Neighborhood Restore, and then city capital has been the other major expense.
0:58:40
We expect going forward approximately 250,000 per unit.
0:58:45
It's clearly gone up over time as renovation costs have increased.
0:58:51
I just wanna add on one thing that the acting commissioner mentioned, which is that if we were to pass legislation this year,
Justin Brannan
0:58:59
the