Council Member Banks on state audit findings and capital investment effectiveness

Thank you, Chair.

First of all, I want to thank the Speaker and the entire leadership in bringing this hearing together.

On capital investment and preservation of Mitchell-Lama, recently there was an audit by the State Comptroller, Tom DiNapoli, which identified persistent,

unresolved issues across Mitchell-Lama developments, including mold, pest infestation, infrastructure deficiencies, and other hazardous conditions that directly impact residents'quality of life.

Given the significant capital needs facing many Mitchell-Lama properties, what specific investments has the city made to preserve and rehabilitate this housing stock,

particularly city-supervised developments?

And additionally, how has HPD measured the effectiveness of those investments?

And can the agency provide examples where capital funding has resulted in measurable improvements for residents?

Yeah, so, I mean, we're happy to work with every development that's in our pipeline and is willing to come into our pipeline to do a major capital improvement project.

When we do a major capital improvement project, the goal is to cure underlying conditions, right?

So we want to make sure that we're addressing the most hazardous and urgent conditions first, and then ensuring that we get to the most hazardous and urgent conditions first.

to the rest of the work that's outlined in the IPNA and the scope of work.

And any examples that you can give us?

Of a successful loan closing and improved conditions.

I think we'll be able to, I mean, I don't have one off the top of my head unless, Julie, you do.

We're happy to provide samples.

You can give that to the committee later.

Pass it down.

Thank you.

All right, thank you.