Chair Louis questions HPD financing status and interim property plans
Chair Louis asks about HPD conversations given the agency's extensive pipeline and potential years-long wait for small project funding. Orantia reports the applicant is working with Urban Impact Capital Partners, submitted a project intake sheet with HPD earlier this year, and is committed to providing 100% affordable housing, willing to wait and follow the process.
Thank you so much for your presentation.
I have one quick question.
I'm going to hand it over to Councilmember Farias.
Given that this proposed as an affordable housing project, what is the status of your conversations with HPD?
Given the extent of HPD's pipeline and that it can take years to obtain funding from HPD for a small project like this, what do you plan on doing with the property in the meantime?
So the applicant is working with an affordable housing consultant.
The name is Urban Impact Capital Partners, and they have submitted a new project intake sheet with HBD at the beginning of this year.
And this applicant is committed to providing 100% affordable housing at this location.
And, you know, we're willing to wait and follow the process and continue to engage with HBD.
Thank you.
I'm going to hand it over to Council Member Fadi to ask for questions.