HPD on rising operating costs across Mitchell-Lama portfolio

The Mitchell-Lama portfolio has experienced massive increases in operating costs, as seen across all types of affordable housing.

Insurance premiums have skyrocketed.

Utility costs are increasing.

Salaries for maintenance and building staff have increased significantly.

All these rising operating costs

have made it more challenging than ever for Mitchell-Lamas to maintain a balanced budget, let alone chart a sustainable path for major capital improvements.