Chair Lee on capital commitment rates and five-year plan for Mitchell-Lamas

Have the capital commitment rates changed significantly over the past 10 years?

Like the amount that we're lending to Mitchell Llamas?

Yeah, I mean, I think it's gone up over the past 10 years.

We've been committing more city capital than we previously had.

And in the housing plan, you know, there's a lot, there was specifically hundreds of millions set aside and called out just for Mitchell Llamas, which I...

Pretty sure has not happened in the past.

Okay.

And also moving to the exec plan for FY27, we saw a total capital commitment of $4.9 billion for preservation for the five-year capital plan, as well as a $500 million total increase in FY31.

So how much of the five-year capital commitment plan is budgeted for Mitchell-Lama preservation?

So we don't break out specifically for Mitchell Llamas versus other rent-stabilized stock that's coming through our preservation pipelines.

But we have more capital than we have in the past, and we know that the needs are pretty significant in Mitchell Llamas.

And as they work through our pipeline and they're prepared for construction loan closing, we'll deploy capital as needed.

Okay.