Bloomberg unveils expanded new housing plan.As part of his re-election campaign, Mayor Bloomberg is promising to step up his efforts to create affordable housing for low-income and middle-class New Yorkers. Speaking at the Housing Partnership Development Corporation luncheon on October 19, Bloomberg vowed to expand his New Housing Marketplace Plan from 68,000 units by 2008 to 165,000 units by 2013. The Mayor also noted that unlike his current opponent Fernando Ferrer Fernando James "Freddy" Ferrer (born April 30, 1950 in the Bronx, New York) was the Borough President of The Bronx from 1987 to 2001, and was a candidate for Mayor of New York in 2001 and the Democratic Party nominee for Mayor in 2005. , he would fund the creation of the new housing stock without raising taxes. "I don't think it's wise," Bloomberg said, referring to Ferrer's proposal to raise property taxes and increase the Housing Development Corporation funding to $1 billion. "And I don't think it's fair to take money from those New Yorkers [who already own homes] in order to give it to others." Instead, Bloomberg is proposing that the City work in partnership with the private sector and philanthropic organizations and use money from local development funds, like the Lower Manhattan Lower Manhattan is the southernmost part of the island of Manhattan, the main island and center of business and government of the City of New York. Lower Manhattan is generally defined as the area delineated on the north by Chambers Street, on the west by the Hudson River (North Development Corporation, to finance the new units. "We will also leverage the strong real estate market," Bloomberg promised, by expanding the efficiency of current incentive programs and selling off City-owned land. As a result, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of will be able to preserve 37,000 Mitchell-Lama and other housing units on which subsidies are due to expire and construct 22,000 new units of housing for the middle-income demographic. "More than half of the preserved units will be in buildings where subsidies are due to expire," Bloomberg said. "HDC (Hard Disk Controller) See disk controller. HDC - Disk Controller will expand its efforts to refinance those properties. I will ask the Housing Commissioner Shaun Donovan to work with federal and state governments [to help troubled apartment buildings]. In our 10-year plan, nearly 60% of the units will be new construction. We will create a new Mitchell Lama program. It will lower the price of housing by 25% through the use of tax-exempt bonds Tax-exempt bond A bond usually issued by municipal, county, or state governments whose interest payments are not subject to federal and, in some cases, state and local income tax. tax-exempt bond See municipal bond. ." The Mayor also promised that he will continue to expand inclusionary zoning Inclusionary zoning, also known as inclusionary housing, refers to city planning ordinances that require that a given share of new construction be affordable to people with low to moderate incomes. in up-and-coming New York neighborhoods and search for underutilized sites on which affordable housing could be built. "Should I serve as Mayor for a second term, we will continue to rezone re·zone tr.v. re·zoned, re·zon·ing, re·zones To change the zoning classification of (a neighborhood or property, for example). re and change our outdated regulations," he said. "Our 10-year plan will be the largest affordable housing program in this City's history." |
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