Chair Sanchez on five-year increase in high-risk Mitchell-Lama indicators
Sanchez asks about the Mayor's Management Report showing a five-year increase in high-risk rental and cooperative indicators. Phillips discusses working with owners on preservation outcomes.
Thank you.
What explains the five-year increase in the mayor's management reports, high-risk rental and cooperative indicators that are showing that we're moving in the wrong direction in terms of the physical stock in these properties?
Sorry, can you repeat the question?
Actually,
So in the mayor's management report, there's been a five-year increase with respect to HPD's management of high-risk rentals and co-ops.
What explains that?
Are these Mitchell Llamas specifically or rent-stabilized stock?
No, it is broader than Mitchell Llamas, but includes Mitchell Llamas.
So for any distressed portfolio or any distressed building, we will work with the owner to ensure that they can put together a loan application and enter our pipeline for a preservation outcome.
Thank you.