Janice Brody, Clayton Apartments board member, testifies on deficits and need for grants not loans

You want to go first?

Because the two of us are together.

I'm a board member for Clayton Apartments, located in Harlem, Central Harlem, on West 135th Street.

Currently, our co-op, we're running at a deficit, at least $15,000 a month.

We do have an IPNA.

In process, but it looks like we may need between $25 million or more to get our building up to standard.

We do have something in the process we need to get.

I mean, we had a grant for like $150,000, but it turned out we can't get that unless we flip over another loan first.

So we got to get into debt further just to get a six figure that we want to use for our double breaks for the elevator.

We have to get that done by January 27.

So we're constantly.

operating in a deficit.

And when I listened here earlier to, we're talking about in 27 and 28, we're going to have all this money and capital funding.

And you just kind of broke it down by saying, it's going to be a loan.

It's not going to be an investment.

We need investment.

I mean, I think you need to look at the Mitchell Llamas as being part of the city infrastructure.

We should be treated as, we shouldn't be treated as, I don't know, debt.

We're being treated as debt.

And basically right now, as far as, I mean, we went through a lot of numbers.

I'm just going to throw a couple at you.

Our insurance, $700,000 a year.

We do have a lot of seniors.

The scree, that's not even a Band-Aid.

I don't know what it's going to cover.

But when we look at where we're located, there's going to be one big project that's going to have over 1,000 apartments.

It's called 1-145 on 145th Street in Lenox.

You're giving them big tax breaks.

There's going to be another building, three buildings across the street from us.

Big tax breaks, but we got to go into debt.

So what we're asking for, we're not asking for a loan.

We're asking you to come in, say it's capital, and help repair our building.

We don't need another loan.

We don't need a balloon coming.

And we got balloons already.

My building is 62 years old.

So we are ready.

We've been turning over and turning over.

And over till we can't turn over no more.

We need help, and I'm trying to make sure I'm covering everything because I didn't know I had two minutes.

So, yeah, Ms.

Sanchez earlier mentioned the breaks that the renters are getting, the tax breaks.

The co-ops are not getting any breaks.

And like I said, we got to repair the elevator by 2027.

All these local laws, Fairfield Avenue co-ops, they said they was going to put together a petition, and they sent one to you.

We're going to get a petition going to these local laws.

Y'all should be covering them.

Sorry.

Our rent can only cover operating.

We can't cover the local laws.

It's just a little bit too much.

And I'm trying to go through all the figures of everything that we owe.

But we need to be treated like we're infrastructure.

And when you say capital, say capital.

If it's a loan, then be true and say it's a loan.

Because I was like, oh, yeah, we're getting all this money, 27, 28.

And then you broke it down, and it's really a loan.

We are ready in debt.

So this is another board member.

So I'm going to stop now and let him.

Did I cover everything?

Okay.

Thank you.