CM Lewis questions OMB on housing capital plan and city-owned property development

Good morning.

Good morning.

Thank you, Chair.

Two questions.

I'm going to conjoin them together.

The mayor's block-by-block housing plan commits more than $22 billion in housing capital funding over the next five years, with approximately $4 billion in the new HPD capital funding as part of the broader $22 billion housing investment strategy.

So I wanted to know, how does this level of capital funding compare to the prior?

Mera housing plans on an annual basis and what specific portion of these funds represent truly new capital investments versus previously planned commitment?

And my second question is, does the administration's housing capital plan also include funding specifically dedicated to studying and advancing housing development on top of existing city-owned property?

And if so, are agencies expected to absorb planning and redevelopment costs within their own capital budgets, or is OMB establishing centralized funding sources to support feasibility studies, design work, and so on?

Sure, so let me start and I'm going to turn it over to our first deputy director to address that.

So I think in your second part of your question with respect to...

Agencies.

Right, in terms of on-city property.

We have the LIFT task force that is specifically focused on ways that we can seize opportunities to build on city property.

And so there's a team together that's constantly looking at ways that we have property across the city to be able to build housing there.

I do want to turn it over to Tara to talk about your first piece of the question in terms of like what our capital, how our capital investments.

rank in terms of housing plans.

All right.

Thank you.

A few aspects to your question in terms of if the agencies would be anticipated to absorb the cost of that additional development.

Unlikely.

That's more of a development proposal as opposed to an agency operational need.

So when that need would be identified, it would either be funded out of HPD's capital budget or if it was an environmental study required, we would look at it within DCP in their EIS budget.

In terms of how this ranks compared to annual funding from prior administrations, we would have to take a look at that.

What I can tell you is that the vast majority of funding within the five-year plan is going towards housing.

So the $22 billion is on a base of $117 billion in total.

Right.

All right.

Thank you, Chair.

Thank you.

Great.

Thank you.

Okay, Councilmember Ong is actually not here, so Councilmember Wong, followed by Krishnan.