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Council urges funding for preservation, seeks costs for third-party transfer reform
Summary
Council members and HPD discussed preservation tools including Neighborhood Pillars, and the proposed third-party transfer reforms. HPD said costs will depend on program design and involve multiple agencies; an earlier round of neighborhood-restore support has totaled about $79 million, and capital needs for transfers can be high.
Council members urged HPD to pair legislative reforms aimed at negligent landlords with robust budget resources to operate and implement new preservation tools.
Council Member Pierina Sanchez highlighted the Housing Rescue / Resident Protection Act (third-party transfer reform) and told HPD the committee expects the legislation to be matched with budgetary resources. Deputy Commissioner Darga told the committee that exact staffing and capital costs for an expanded third-party transfer (TPT) program depend on the final program design and…
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