Council Member Epstein on balancing affordable housing development on Mitchell-Lama land
Epstein asks how HPD balances the need for more affordable housing with preserving Mitchell-Lama land value. Phillips says it will be case-by-case, looking at available land and capital needs in collaboration with the council and co-op boards.
And I wanted the last question.
I know Councilmember Banks flagged the issue of potential development projects on...
Our Mitchell Lama land.
I'm wondering how you balance the issues of needing more affordable housing versus the potential value of that land.
So how do you make that determination about the need for the affordability, because we need more affordable housing, and the need for making sure the Mitchell Lama stay whole?
What is that decision process internally?
Yeah, I mean, I think it's going to have to be a case-by-case basis.
We have to look at the available land in each Mitchell Lama.
Not every Mitchell Lama is going to have a ton of development space available.
So I think looking at the capital needs, the available land that we could develop on, I think everyone might have to be its own unique snowflake.
But in collaboration with the city council and if it's co-op with the board, I think we can get to a really good place to ensure that there's additional funds going to mitigate increases and pay for capital improvements outside of the city budget.
Well, thank you, and I appreciate the chair's indulgence.
I'm looking forward to this exciting roundtable.
All right.
Are you bringing snacks?
Always snacks.
They're going to be vegan.
You okay with that, right?
As long as it's free.
Thank you for hanging in there with us.