Rebecca Poole (CNYC) on co-ops, J51, and exclusion from housing plan
Poole represents the Council of New York Cooperatives and Condominiums, noting over 730,000 co-op and condo households in the city. She argues these homeowners were largely excluded from the Block by Block plan, thanks the Council for J51, and raises concerns about Thornton Tomasetti report recommendations not helping older co-ops.
Good afternoon, Chair Sanchez.
Thank you for the opportunity to testify.
My name is Rebecca Poole, and I'm the Director of Membership and Communication for the Council of New York Cooperatives and Condominiums, a member-funded, not-for-profit organization providing information, education, and advocacy
to and for co-ops in all five boroughs.
I must say it is great to be in a room full of people who appreciate the community benefits of co-op housing.
That doesn't always happen.
There are over 730 existing co-op and condo households in New York City.
Co-op and condo homeowners self-fund the preservation of New York City's housing stock, have stabilized neighborhoods, and are vested in the city.
Years of pursuing the best possible quality of life for the lowest possible cost have turned co-ops and condos into bastions of naturally occurring affordable homes.
Yet the majority of these existing co-op and condo homeowners were not included in the all-of-the-above approach block-by-block brings to solving the city's housing challenges.
Where are the educators, nurses, municipal workers, journalists, musicians, and others who have scrimped and saved and already bought into New York co-ops and condos?
Where do they fit into New York City's future?
Block by Block references meetings to discuss efficiencies in
compliance, the targeting of bad actors, and a review of overlapping laws.
These are all changes CNYC has worked for and promoted.
And yet, free market, co-op and condo homeowners and advocates have not been represented in discussions and it shows in the plan.
The same is true for the Thornton-Thomasetti report and its recommendations, which now lead to concerns that changes will not help co-ops, most of which are
you know, are older than 40 years and they don't comply.
They're not going to qualify for that existing benefit.
Co-op and condo homeowners from all five.
Thank you for J51.
I'll just conclude with that.
Too slow.
We all got to just hang out.
We just got to go to the bar and you guys tell me all the things.
But I will read your testimony.
Thank you.