Scott Stringer wants to triple affordable housing, declares ‘war on poverty’
Saying he’s out to “declare a real war on poverty,” city Comptroller Scott Stringer on Thursday called on the city to triple the number of new affordable apartments set aside for the homeless.
He said 15 percent of the city’s affordable home construction program should go to the homeless, compared to the 5 percent now reserved by Mayor de Blasio.
The mayor previously rejected demands that he increase the allotment for the homeless to 10 percent.
But the comptroller argued his proposal would help not only the homeless, but the poorest New Yorkers.
“Today we declare a real war on poverty,” said Stringer, who is widely considered a mayoral contender in 2021.
However, his report largely dodged questions about the larger housing crisis gripping the city.
Half-a-million people have moved into the five boroughs over the last decade, but the city only built 100,000 new apartments.
That has fueled gentrification sweeping across once-working class parts of Brooklyn and Queens as wealthy new arrivals compete with longtime residents for housing.
Instead, Stringer wants to spending an additional $370 million a year to build housing for poor and low-income New Yorkers, while providing $125 million in new rent subsidies.
The revenue would be raised by replacing several city and state mortgage and real estate transfer taxes with a new levy that increases with the sales price.
The new tax would wipe out one major benefit enjoyed by wealthy home buyers — they don’t currently pay the city/state mortgage recording tax if their purchase is all cash.
Stringer pointed out that 80 percent of all condo sales above $5 million in Manhattan closed without mortgages.
Albany would have to approve any changes.
Source: Read Full Article