The New York State Division of Housing and Community Renewal (DHCR), was merged with the New York State Housing Finance Administration in 2010 to create the agency. The program was based on the Morningside Gardens housing cooperative, a co-op in Manhattan's Morningside Heights neighborhood that was subsidized with tax money. They were also guaranteed a 6% or, later, 7.5% return on investment each year. Developers received tax abatements as long as they remained in the program, and low-interest mortgages, subsidized by the federal, state, or New York City government. Under this program, local jurisdictions acquired property by eminent domain and provided it to developers to develop housing for low- and middle-income tenants. The program's publicly stated purpose was the development and building of affordable housing, both rental and co-operatively owned, for middle-income residents. It was signed into law in 1955 as The Limited-Profit Housing Companies Act (officially contained in the Private Housing Finance law, article II titled Limited-Profit Housing Companies and referring to not-for-profit corp., whereas article IV titled Limited Dividend Housing Companies refers to non-Mitchell–Lama affordable housing organized as business corp., partnerships or trusts from 1927 on). It was sponsored by New York State Senator MacNeil Mitchell and Assemblyman Alfred Lama. The Mitchell–Lama Housing Program is a non-subsidy governmental housing guarantee in the state of New York.However, since 2007, housing companies representing 3,666 units have refinanced and committed to remaining in the program.Īssemblymember Rosenthal represents the Upper West Side of Manhattan and parts of Clinton/Hell’s Kitchen. Almost a third of the 140,000 apartments built under the program have left or are in the process of leaving the system. When they do this, the companies no longer have to be supervised by DHCR and the apartments no longer need to be kept affordable for low- or moderate- income families. Twenty years after the initial occupancy of an apartment, housing companies are allowed to buy out of the Mitchell-Lama program. In exchange for these perks, the law required a limitation on housing company profits, income limits for tenants and DHCR supervision. The program encouraged the development of affordable housing for middle-income residents by providing developers with tax abatements and low-interest mortgages. The New York State Mitchell-Lama bill was passed in 1955 in response to affordable housing shortages throughout New York State. I hope to discuss the possibility of creating another program similar to Mitchell-Lama that could be implemented in New York and that would increase the access of moderate-income families to affordable housing.” “I am optimistic about what a reasoned debate on this subject can continue to accomplish, and I look forward to working with the many activists who are dedicated to preserving Mitchell-Lama housing. “I also hope to slow the exodus that is occurring from the Mitchell-Lama program,” continued Assemblymember Rosenthal.
The passage of this bill was hailed by tenants’ rights advocates as a great achievement for tenants throughout the city and surrounding counties. Bill A.2005 will repeal vacancy decontrol in New York City as well as in Westchester, Nassau and Rockland Counties, thereby increasing the number of apartments available under the rent-stabilized system. This past February, the Assemblymember won a huge victory when her repeal of Vacancy Decontrol bill (A.2005) passed the State Assembly. It is my hope that I will be able to work with tenants, cooperators and landlords to enhance opportunities for all within the Mitchell-Lama program.”Īssemblymember Rosenthal has been a long-time advocate of affordable housing issues.
The Mitchell-Lama subcommittee will provide a useful forum in which to discuss and influence both of these things in the future. “I am deeply committed to tenants rights and protecting affordable housing. “I am thrilled at the opportunity to chair this critical subcommittee and continue work on affordable housing issues throughout New York,” said Assemblymember Linda B. The program, which began in 1955, was established in order to give moderate-income families greater access to affordable housing. This subcommittee oversees issues pertaining to the Mitchell-Lama program in New York. Rosenthal (D/WF, Manhattan) was appointed Chair of the Assembly’s Mitchell-Lama Housing Subcommittee on June 1st.
New York, NY – New York State Assemblymember Linda B.
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