Your guide to NYC's public proceedings.
Q&A
HPD's approach to cost-benefit analysis of capital budget vs. tax expenditures
0:47:38
·
97 sec
Council Member Justin Brannan inquires about HPD's cost-benefit analysis practices regarding capital budget spending versus tax expenditures. Multiple HPD officials, including Acting Commissioner Ahmed Tigani and Deputy Commissioner Lucy Joffe, respond to explain the agency's approach.
- HPD conducts extensive analysis on all programs, including cost-benefit analysis for new programs and reforms
- The agency considers various factors beyond just cost, such as feasibility and timeliness
- Every project undergoes a multi-unit review to evaluate the best use of resources
- Specific considerations include whether to transfer development rights or build on existing lots
Justin Brannan
0:47:38
Last question from me.
0:47:39
Does HPD do any cost benefit analysis to determine whether or not a dollar spent from the capital budget is more effective or impactful than a dollar spent through tax expenditures?
Ahmed Tigani
0:47:53
I don't know the answer to that.
0:47:57
I'm gonna bring up Deputy Commissioner Lucy Joffe.
0:48:00
There is some figures that we looked at it but I'm not sure I could address your exact question.
0:48:46
And I would just add that every project goes through a multiunit review where we look at everything whether development rights, land, and the individual capital we put in the projects are evaluated for what is the best use of it.
0:49:04
So especially when there's development right transactions, whether it's a better use to transfer those development rights or build on the lot that it's transferring from.
0:49:12
And those are the kind of specific questions we look at each of the tracks.
Lucy Joffe
0:48:05
Hi, thank you for that question.
0:48:07
We do extensive analysis on all of our programs and when we're proposing new programs or looking at reforms and cost benefit analysis to the city is always one of them.
0:48:17
We are constantly looking at what is the best way to achieve something.
0:48:20
That may be a difference in the cost benefit of one program or one type of subsidy or another.
0:48:26
Or there is also often feasibility considerations, timeliness.
0:48:31
of factors that go into what makes a tax based program versus a subsidy based program more efficient and effective for the city.
0:48:39
But cost benefit analyses are always a big part of our financial work when we're thinking about any new programs or reforms.
Lisa Bova-Hiatt
0:48:30
So there can be a lot