Chair Lee calls for exploring new financial tools with agencies
Lee emphasizes the need for continued oversight with HPD and DOF to explore existing and potential new tools to support Mitchell-Lama viability without passing costs to tenants.
Even with these actions, it is essential that this oversight continues with our agencies and the administration as we look forward to exploring existing and potential new tools
to support the long-term viability of Mitchell-Lama developments from our counterparts at the Department of Housing, Preservation and Development, and the Department of Finance, and not passing the burden to tenants in Mitchell-Lama developments.
developments, rentals, and co-ops.
And I now want to turn it over to my co-chair for this hearing, Councilmember and Chair Sanchez, for her opening statement.