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City Council Makes De Blasio's Affordable Housing Plan More Affordable
By
Emma Whitford
Published Mar 15, 2016
Modified Mar 15, 2016
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By
Emma Whitford
Published Mar 15, 2016
Modified Mar 15, 2016
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The City Council on Monday confirmed that it will approve two major pillars of Mayor de Blasio's $41 billion affordable housing plan that aims to create and preserve 200,000 units of affordable housing over the next decade.
The Council agreed to approve the measures with some changes, after a group of affordable housing advocates and unions who were among the plan's toughest critics formally endorsed the mayor's plan.
The first prong, known as mandatory inclusionary housing (MIH), would require developers to include a portion of below-market-rate units in their new residential projects.
The Mayor's original plan included three options for developers. One called for 25% of units in new developments to be set aside for New Yorkers making 60% of the AMI, or $46,620 for a family of three. Another mandated that 30% of units be affordable for those making 80% of the AMI, or $62,150 for a family of three. The third laid out 30% affordability at 120% of the AMI, without government subsidies.
Critics had argued that the rezoning would produce a glut of new apartments too expensive for long-time residents of these neighborhoods. For example, only 13% of the apartments planned for East New York would be affordable to the 53% of current residents who make less than $35,000 a year. As-written, the plan has been formally rejected by 50 of 59 impacted community boards, and four of the five borough presidents.
The City Council added a fourth option to the plan this week—20% of units affordable for New Yorkers who make 40% of the AMI, or roughly $31,000 a year. The Times reports that the amended plan also lowers the affordability cap from 120% to 115% of the AMI, about $89,000 for a family of three.
"We changed the affordability at both ends," Brooklyn Councilmember David Greenfield told the paper. The levels of affordability for each new construction project will be determined on a case-by-case basis by local councilmembers.
Alterations to the Mayor's zoning for quality and affordability (ZQA) plan—which originally called for the elimination of parking requirements at new developments within a half mile of a subway stop—has also been altered to appease residents in the outer boroughs.
While Mayor de Blasio called the Council's approval a "watershed moment," the Association for Neighborhood and Housing Development offered more tempered praise.
"The announced deal will make sure that MIH serves an additional 15% of New York City's households—close to half a million families—that would have been left out," the group stated. "[But] almost 30% of our City's households fall below 30% of AMI, and will not be served by the MIH program."
The revisions to de Blasio's plan are expected to be approved during the next full City Council session on March 22nd.
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affordable housing crisis
affordable housing plan
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Emma Whitford
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