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Affordable Housing

Residents all over New York City have seen skyrocketing rent increases over the past decade; in some neighborhoods rents have gone up nearly 30%. Working class people and their families shouldn’t have to bear the brunt of corporate developers putting profits over people.

Eliminate Area Median Income (AMI):

When developers build in less affluent neighborhoods, the baseline calculation for affordability is significantly higher than it should be. Westchester shouldn’t be able to influence area median income in Brooklyn or raise the price of rent for neighborhoods across our district.

Institute an Annual Progressive Tax on Non-Primary Homes Worth More than $5 Million

According to estimates from the Fiscal Policy Institute, New York City could generate over $660 million in tax revenue annually through less than 2 percent of non-primary residences across the boroughs.

Advocate for the Repeal The Urstadt Law:

Enacted in 1971 as part of Rockefeller’s vacancy-decontrol legislation, the Urstadt Law specifically barred New York City from adopting rent limitations that are “more stringent or restrictive than those presently in effect”, and is one of the key causes behind the affordable housing crisis facing our city. Repealing this law would allow for greater rent stabilization throughout New York City’s housing market.

Create Sustainable Housing within the Urban Housing Market:

  • Limit corporations like Air B&B from reducing housing stock.
  • Increase federal housing dollars to generate more public housing vouchers.
  • Create an investigatory arm of HUD with the power to go after speculators in the real estate market.
  • Establish a federally funded co-operative program that provides affordable rental and cooperative housing to low to middle-income families.
  • Establish federal funds for Community Land Trusts (CLTs)
  • Establish a federal commission to study the generational impacts of ‘Red Lining’ in present day housing markets.
  • Protect, expand and monitor the implementation of the National Housing Trust Fund to ensure working class Americans have access to home loans.
  • Increase Federal funding for the New York City Housing Authority (NYCHA) to ensure It can meet the housing needs of its nearly half-million residents.

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