Council Member Riley on capital needs assessment and land sale protections
Riley asks HPD to commit to providing a development-by-development capital needs assessment, and asks what protections ensure residents are involved before land is sold or developed. Phillips says co-op boards drive the process; Alika Amprey-Samuel emphasizes creative revenue tools.
Can HPD commit to providing the council with a development by development capital needs assessment for all city supervised Mitchell Llamas?
We have, and I think my colleague Alika said before, the total number of Mitchell Llamas where we have existing IPNAs.
So we can take a look.
We can provide you with a list that we have and work with your offices on the costs associated with the IPNAs.
Thank you.
That would be a great.
Thank you.
Your testimony discusses selling parking lots and undeveloped land to generate revenue.
What protections will be placed to ensure residents are meaningfully involved before land connected to their development is sold or developed on?
Yeah, so we want to make sure that I think it would be a little bit different for the co-ops versus the rentals.
For the co-ops, they would be completely driving that process, right?
The board of directors has a fiduciary responsibility to...
ensure that they're doing capital planning and reporting back to the shareholders.
So that would be more of a collaboration directly with the shareholders and more up to the shareholders to see what they want done with their land if they have the space to develop.
With the private rentals, I think the situation would be a little bit different, and we would make sure we would do outreach to work with the housing companies and engage the tenants.
So any undeveloped land is benefiting.
The existing residents in the development.
I just want to actually add the fact that we're sitting here talking about the operating costs and some of the subsidies that we don't have access to right now, like the Section 8 vouchers.
And so we need to be creative on ways to be able to get more resources into these buildings.
And so if we're talking about the opportunity to develop on land, we need to really have those conversations in a thoughtful way.
And so I just wanted to lift that up because if we don't have tools, this could be one of them.
And we've seen this play out in other housing portfolios.
And I think the council is ready to work with you guys on being innovative and coming up with those creative ways.