DOF testimony on Rent Freeze program overview and statistics
First Deputy Commissioner Jeffrey Shear introduces agency representatives and explains the SCRIE and DRIE programs, detailing how DOF establishes frozen rent with property tax credits for owners, and reports 67,677 households served in 2024 including 50,071 DOF-SCRIE, 6,594 HPD-SCRIE, and 11,012 DRIE households.
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Good morning, Chair Lee, Chair Zhuang, Chair Hanif, members of the Committees on Finance, Aging, and Disabilities, and members of the City Council.
My name is Jeffrey Shear, and I am the first Deputy Commissioner of the New York City Department of Finance.
Thank you for the opportunity to testify today on legislation affecting the rent freeze program, the senior citizen homeowners exemption, and the disability disabled homeowners exemption.
Joining me today to help answer questions after the testimony are Ryan Murray, Executive Deputy Commissioner and Chief Program Officer at the Department of Aging,
Alika Amprey-Samuels, Deputy Commissioner at Housing Preservation and Development,
Nisha Agarwal, Commissioner of the Mayor's Office for People with Disabilities, and Julie Walpert, Assistant Commissioner at Housing Preservation and Development.
Taken together, the proposals before the Council address an important policy question.
How the city can make tax and rent relief more accessible for older New Yorkers and people with disabilities while ensuring
that the programs can be administered effectively.
I will begin with the Rent Freeze program.
The Rent Freeze program consists of two benefits, the Senior Citizen Rent Increase Exemption, or SCRI, and the Disability Rent Increase Exemption, or DRI.
Share the goal of helping older New Yorkers and people with disabilities remain in their homes by protecting them from future rent increases.
For eligible tenants,
DOF establishes a frozen rent amount.
As the authorized regulated rent increases, the tenant generally continues to pay the frozen amount and the property owner receives a corresponding property tax credit for the difference.
Bless you.
The Rent Freeze program serves a substantial population.
In calendar year 2024, 67,677 New York City households received benefits.
That included 50,000
In 71, DOF-administered SCRI households, 6,594 HPD-administered SCRI households in Mitchell-Lama housing, and 11,012 DRI households.
Participation increased steadily during much of the last decade before declining during the pandemic.
In 2024, enrollment increased by 0.8%, the first annual increase since 2019.