Saturday, July 8, 2017

How affordable is it?

From Crains:

The city has not released adequate information about how much money it has spent on affordable housing three years into the mayor's plan to build or preserve 200,000 subsidized units, a fiscal watchdog group said last week. While the administration has touted the number of units it has financed, the group said, the missing data make it difficult to tell how much has been spent to accomplish the goal and how much more cash might be needed to finish the job down the road.

Mayor Bill de Blasio announced his Housing New York plan in 2014 and pledged $41 billion in public and private money over 10 years to make it happen, including $6.7 billion in city capital dollars. However, since that time the administration has not revealed enough information about how it is spending the cash, according to the Citizens Budget Commission.

"Without this basic data, whether the mayor's Housing New York plan is deploying its capital in the most cost-effective way cannot be evaluated," Sean Campion, a senior research associate at the nonprofit, wrote Friday.

The city typically releases information about how many units it has financed twice a year and includes the total cost of those apartments. The commission, however, wants to see more granular figures to find out whether taxpayer dollars are being spent wisely, and which programs appear to be the most efficient.

Figures such as per-unit costs are not released publicly, City Hall said, since developers could use the data to their advantage when negotiating on projects.


Anonymous said...

My taxes being redistributed to achieve social equality. Priceless...

JQ LLC said...

"My taxes being redistributed to achieve social equality. Priceless..."

Your/our taxes are more likely being redistributed for social inequity and faux luxury living for the 80% of the prospective tenants.

Also for city workers who supersede regular working poor people. De faustio's affordable housing plan is a joke and a scam

Anonymous said...

@ JQ LLC said...
I was joking, I'm for free market rents.