{"id":285483,"date":"2021-06-28T04:03:23","date_gmt":"2021-06-28T01:03:23","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/misguided-affordable-housing-bill-likely-to-make-market-worse\/"},"modified":"2021-06-28T04:03:23","modified_gmt":"2021-06-28T01:03:23","slug":"misguided-affordable-housing-bill-likely-to-make-market-worse","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/misguided-affordable-housing-bill-likely-to-make-market-worse\/","title":{"rendered":"#Misguided ‘affordable housing’ bill likely to make market worse"},"content":{"rendered":"

“#Misguided ‘affordable housing’ bill likely to make market worse<\/strong>”
\n<\/p>\n

\n

A Mitchell-Lama \u201chousing reform\u201d bill passed by the Legislature now awaits Gov. Andrew Cuomo\u2019s signature; he should veto it instead.<\/p>\n

The bill, say sponsors state Sen. Brian Kavanagh (D-B\u2019klyn, Manhattan) and Assemblymember Linda Rosenthal (D-Manhattan), will introduce \u201creforms around voting procedures\u201d and \u201ccorporate governance\u201d in Mitchell-Lama cooperative housing.<\/p>\n

More government-mandated rules, bureaucracy and misguided interference in the housing market, in other words.<\/p>\n

Kavanagh aims to \u201censure open, transparent governance,\u201d protect \u201cshareholder residents and the public\u201d and preserve \u201caffordable housing in Mitchell-Lama buildings that have been subsidized for decades.\u201d\u00a0<\/p>\n

One problem: These developments were never meant to be permanently<\/em> subsidized units, kept off the market and provided with tax breaks, low-interest loans and guaranteed profits (at taxpayer expense) till the end of time, while some owners don\u2019t even want to remain in the program. Pols have no right to change the rules now, decades after the fact.<\/p>\n

When the Mitchell-Lama program was created in 1955 for low- and middle-income families, it was designed so residents and shareholders could voluntarily leave \u2014 usually after 20 years \u2014 and return the units to the market. Yet the legislation would raise the threshold for that, requiring app<\/a>roval from 80 percent of units, rather than the current 67 percent.<\/p>\n

That\u2019s purportedly meant to benefit residents, but what makes the bill\u2019s sponsors think they know what\u2019s best for residents? Why not let residents decide for themselves?<\/p>\n

\u201cIt\u2019s so typical of politicians. They don\u2019t know the ins and outs, they don\u2019t know how [the system and buildings] work,\u201d one Mitchell-Lama resident told The Post. \u201cThey don\u2019t realize how they\u2019re hurting us because they think they\u2019re being helpful.\u201d<\/p>\n

The bill would also require the board to hold six public meetings a year and replace proxy voting with an absentee-ballot system. But as the resident said, \u201cthere\u2019s no democracy here,\u201d and the bill\u2019s proposed rules only add more hurdles for residents.<\/p>\n

\u201cI do believe in affordable housing,\u201d she added. \u201cBut Mitchell-Lama is not an answer to those problems. The system has too many loopholes that protect corruption\u201d \u2014 i.e., rich people gaming the system or paying bribes for better apartments.<\/p>\n

Fact is, the numerous \u201caffordable housing\u201d programs created by pols who thought they knew better are precisely what\u2019s responsible for the city\u2019s housing shortages and sky-high costs over the years.<\/p>\n

That crunch eased somewhat as residents fled in response to the pandemic, the crime surge and never-ending tax hikes. So now, if anything, it\u2019s time to roll back these misguided programs, not expand them \u2014 and make matters even worse.\n <\/p><\/div>\n

If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n

\n

For forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

\n

If you want to read more News<\/a> articles, you can visit our News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Misguided ‘affordable housing’ bill likely to make market worse” A Mitchell-Lama \u201chousing reform\u201d bill passed by the Legislature now awaits Gov. Andrew Cuomo\u2019s signature; he should veto it instead. The bill, say sponsors state Sen. Brian Kavanagh (D-B\u2019klyn, Manhattan) and Assemblymember Linda Rosenthal (D-Manhattan), will introduce \u201creforms around voting procedures\u201d and \u201ccorporate governance\u201d in Mitchell-Lama…<\/p>\n","protected":false},"author":1,"featured_media":285484,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/06\/Starrett-City-Mitchell-Lama.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[110486,70430,43,73779],"class_list":["post-285483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-6-27-21","tag-andrew-cuomo","tag-editorial","tag-legislature"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/285483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=285483"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/285483\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/285484"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=285483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=285483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=285483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}