Coops created by an HPD sale of City-owned buildings engaged in dispute over an obligation to share commercial space income. In 2003, the City conveyed 14 buildings, located on the West Side of Manhattan on 87th, 88th, 89th and 95th Streets. The buildings were to be converted Housing Development Fund Corporations (HDFCs), which are low-income residential cooperatives owned by tenant-shareholders . Three of the 14 buildings contained commercial space. Under the City’s conveyance, the City and the 14 buildings entered into an agreement for a portion of the commercial rental income to be paid into a reserve fund, which would be used to the benefit of all 14 buildings. So far, only $5,000 from the commercial rental income has been deposited into the reserve fund.
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New York City Public Advocate Letitia James. Image credit: The Office of the New York City Public Advocate
Investigation uncovers HPD’s 13 years of failing to enforce housing program requirements against developers and depriving the City of affordable housing and resources. On February 29, 2016, New York City Public Advocate Letitia James released a report on an investigation conducted by her office into 26 residential properties in Brooklyn. The 26 properties had been given to a nonprofit developer to be rehabilitated and resold, subject to affordable housing income restrictions, as part of the Department of Housing Preservation and Development’s Neighborhood Homes program. The report uncovers how HPD’s failure to adequately supervise the progression of these residential properties caused the City to lose over 40 units of affordable housing and waste a considerable amount of the City’s resources, and left prospective homebuyers waiting for apartments they placed deposits on for more than a decade.
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Mayor Bill de Blasio announced the financing of 17,300 units of affordable housing. Image credit: Mayoral Photography Office
17,300 units of affordable housing were created or preserved in 2014. On January 15, 2015, Mayor Bill de Blasio held a press conference to announce the financing of over 17,300 units of affordable housing during 2014. These units, 11,185 preserved and 6,191 of new construction, were financed as a part of the Mayor’s Housing New York plan to preserve and build 200,000 units of affordable housing by the end of Fiscal Year 2024. According to Mayor de Blasio, these units will be enough to provide housing for 42,000 New Yorkers.
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HPD adopted amendments to the rules governing Mitchell-Lama housing, such as this building in Manhattan. Image credit: NYC.gov
New rules address transferability of applications, preferences for veterans, and more. On November 25, 2014 the Department of Housing Preservation and Development formally adopted amendments to the rules governing city-aided limited-profit housing companies, commonly referred to as the Mitchell-Lama program. A public hearing on the proposed changes was held on November 6, 2013 and public comments were received by HPD through November 30, 2013. (read more…)
HPD Commissioner Vicki Been addresses the annual luncheon of Women in Housing and Finance. At right: WHF board member Arianna Sacks Rosenberg. Image credit: Women in Housing and Finance
HPD will permit architect self-certification and expand M/WBE developer opportunities. On October 7, 2014, Commissioner Vicki Been of the NYC Housing Preservation and Development gave the keynote address to the annual luncheon of Women in Housing and Finance. Commissioner Been elaborated on and announced new HPD initiatives to advance Mayor Bill de Blasio’s affordable housing plan.
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