It costs more to live in New York City than any other urban area in the U.S., as of the second quarter of 2012 (The Council for Community and Economic Research). And low and moderate-income housing is under attack, as evidenced by the privatization Mitchell Lama buildings on
Roosevelt Island. While some politicians are pleased with this development, I feel we need to create another program similar to this 50-year-old government success story. New Yorker's wages have been stagnant over the past decade, yet their monthly expenses have risen without mercy. And housing costs has escalated the fastest and highest for New Yorker's of all income brackets. That's why we need to expand and upgrade New York City's housing stock to meet our growing population demands. We need to concentration on moderate priced housing, because our middle class has been hit the hardest. As your state Senator, I will attempt to remedy this issue by:
* Immediately pass legislation to save Roosevelt Island’s Mitchell Lama facility. Experts have ascertained that if the current privatization plan becomes a reality, co-op shareholders will be subject to a 17.8% increase in Multiple Capital Improvement fees resulting in an extra $243,876 for the co-op board. Even worse, Roosevelt Island’s Mitchell Lama facility has withdrawn from the City’s J51 Rent Control Plan (Mitchell Lama Residents Coalition), which offers a tax credit for entities who offer rent controlled apartments for low and middle-income individuals.
* Create a new and updated program similar to the very successful Mitchell Lama legislation passed in 1955.
* Build moderate-income housing using state and city pension funds so that our new teachers, police, firemen, and other government employees just starting out have affordable housing.
* Responsibly reduce zoning regulations and incentivize private contractors to build more affordable housing.