"The 2008 financial crisis showed the impact of an enormous transfer of wealth and property out of the hands of families and communities and into the portfolios of Wall Street."
Our case for the Social Housing Development Authority, w/ @gpbaiocchi
https://t.co/FyJGXPRl2R
Was honored to be asked to testify in 2023 in support of (then councilmember) @Janeese4DC early proposal for social housing in the DC City Council. She was an early leader on this. Meeting chaired by now incoming Congressmember @CMRobertWhiteDC ! Exciting things happening in DC!
@nodisplacement Housing conveyed under the act would have a deed restriction mandating permanent affordability. The properties would be owned/managed by the entity (PHA in this case). PHA would pay back the loan to the Agency from rent proceeds.
@nodisplacement Idea is that we can't trust that politics will always be in our favor and program could get gutted. So put the subsidy upfront. If deeper affordability is desired, can combine with existing programs.
@nodisplacement For any project, it would work in dialogue w/ the tenant union, PHA, etc. But it's a new agency w/ its own money. It's beyond existing programs, but can work with them. If a PHA wanted to work with it for Sec 9 it could, but that's up to the local PHA.
@nodisplacement Core of Homes Act is a public developer+public bank that then transfers to the decommodified housing sector. It provides upfront capital grants for deep subsidy+low-cost loans. Mixed-income across the portfolio (70% all units affordable), but individual building could be higher
@nodisplacement Homes Act creates housing and then transfers to the decommodified housing sector. That includes PHAs. So public as in government owned, may or may not be Section 9. Both bills repeal Faircloth.
@nodisplacement The GND4PH fixes the public housing we have. The Homes Act converts market housing and builds new housing, which could go to tenant cooperatives, community land trusts, or public housing authorities.
New research with @urbandemos and @ActionLabNY shows how the Green New Deal for Public Housing Act and the Homes Act would transform housing in New York State, greening and modernizing public housing while building affordable, tenant-controlled homes at scale.
Ever lived in an NYC apartment and had to crack the window in the middle of winter because it's too hot? These window heat pumps give you control and comfort. And then it gives you A/C in the summer!
Great report on how NYCHA's facilitating decarbonization and comfort in housing
For @shelterforce, CCI's Timi Koyejo explained how NYC's public housing authority is using its procurement power to drive down costs, cut emissions, and transform the market for green tech. Link below 👇
And thanks to the leadership of the sponsors of these bills:
* Green New Deal for Public Housing Act (@RepAOC/@SenSanders)
* The Homes Act (@RepAOC/@SenTinaSmith)