HPD closes testimony with commitment to long-term Mitchell-Lama preservation

We believe that with responsible financial stewardship and new investment, the Mitchell-Lama portfolio can serve

New Yorkers for decades to come, allowing more families to stay in their neighborhoods while paying affordable rents or maintenance fees, or to experience the stability of homeownership for the first time.

Thank you for sharing our concerns for the physical and financial future of these developments.

After 70 years, their needs are great, but so is their potential.

We will continue to work collaboratively with you all to protect these developments, maintaining their affordability and their physical upkeep for the next generation.

We're happy to answer any questions.

Perfect.

Thank you.

Also want to recognize we've been joined by Jay Sanchez as well as Councilmember Brooks Powers on Zoom.

And I'm actually going to first turn it over to Chair Sanchez for her questions.