8/14/15: In Defense of the Responsible Banking Act. The Wall Street Journal positions the RBA “as a meteor headed straight for the world’s financial sector,” although the Act actually upholds many state and federal laws – such as the Community Reinvestment Act (CRA), the Truth in Lending Act, the Fair Housing Act – to ensure banks lend equitably and responsibly to all populations.
8/10/15: Community Groups Call on New York City to Fight for Responsible Banking Act . Court strikes down NYC communities’ right to have a say in bank reinvestments and services for their neighborhoods.
8/6/15: New York City Fights for New Banking Law - Court Decision Due Within the Week . The Responsible Banking Act (RBA) allows the City to hold banks accountable to better meet the needs of our local community, especially important in light that over $150 billion of NYC’s dollars flow to and through the banking system. But the RBA passed in 2012 has once again been challenged with its future in the hands of the court.
7/31/15: City Inclusionary Zoning Proposal a Step Forward, but Affordability Must be Fixed. An affordable housing program is for creating affordable housing, not market-rate housing. Unfortunately, the City’s plan released today calls for 1/3 of Inclusionary Zoning to accommodate those at 120% AMI.
7/17/15: Just What Does Albany’s 421a Plan Say? Preliminary Analysis of the Details. Under the enacted 421a legislation, many neighborhoods are likely to see rents in the 421a affordable units far too high for the incomes of local residents. For a 2-page version of ANHD’s analysis, CLICK HERE.
7/16/15: A Billion Dollar Opportunity for NYC: Expand Bank Reinvestments for Equitable Economic Development. In a new ANHD White Paper released today, an original ANHD analysis finds that the average percentage of dollars towards economic development by banks in New York City in 2013 was 38% less than their national counterparts.
7/14/15: ANHD Launches Equitable Economic Development Initiative. In the prior administration, 1800+ acres of NYC’s light manufacturing was zoned away and replaced largely by luxury housing. ANHD is responding by broadening its mission and using its community development tools to launch a long-term Equitable Economic Development campaign.
7/13/15: Mayor’s Housing Plan Off to a Strong Start. ANHD commends the new administration on a successful first year in creating and preserving affordable housing, and recommends that it redouble efforts to produce units for the lowest income New Yorkers, where the housing crisis and rent burden is greatest.
7/6/15: NYC’s Responsible Banking Act on Trial AGAIN. For the second time in two years, the Responsible Banking Act (RBA) is on trial in US District Court, where the New York Banker’s Association’s claims were dismissed once before.
6/30/15: Five Equitable Economic Development Priorities for the New EDC. ANHD’s 5 recommendations for EDC’s new President, Torres-Springer to advance equitable growth and quality jobs for all its neighborhoods and residents, not just a bigger tax base and jobs for the City’s top earners.
6/25/15: Sifting through the Albany Damage to Tenants and Affordable Housing. No matter how political leaders whitewash it, the poor came last again in the Albany budget.
6/19/15: CDCs – Doing the Tough Job. Chalk it up to an NYC non-profit affordable housing developer – Pratt Area Community Council – for renovating affordable housing while keeping low-income tenants in their homes, and restoring a New York City landmark, all in one development.
6/10/15: Valley National’s New CRA Plan. Valley National Bank”s new plans to acquire another Florida institution, CNLBancshares, comes at a time when community reinvestment is now an integral part of Valley National’s operations.
6/9/15: 421a: If We Can’t Mend It, End It. ANHD believes the NYS Assembly Bills on Rent Reform (A.7256) and 421a (A.7944) are the proposals to get the affordability our neighborhoods need. See ANHD’s side-by-side comparison of current Rent Reg and 421a legislative proposals.
5/26/15: NYC’s First Banking Needs Assessment. The NYC Community Investment Advisory Board (CIAB) completed its first report as mandated by the NYC Responsible Banking Act (RBA): “2015 Needs Assessment: a Biennial Report assessing the credit, financial and banking services needs in New York City.”
5/22/15: de Blasio NYCHA plan shows real commitmentDe Blasio’s Next Generation NYCHA plan (NextGen) is positioned ensure the future of NYCHA, and come to rank as one of the Mayor’s signature housing legacies.
5/21/15: The City Needs Updated Zoning to Preserve Industrial Jobs. NYC’s growing manufacturing sector is threatened by a zoning structure that allows for as-of-right uses such as hotels, big box stores, and self-storage in M-zoned areas, and a real estate market that heavily rewards these higher-paying uses.
5/12/15: The City Needs Updated Zoning to Preserve Industrial Jobs. Unless the City reforms land use, its proposed rezonings might replace our small manufacturers and their jobs with far lower paying hotels, mega franchises and self-storage businesses.
5/11/15: How is Affordable Housing At-Risk in Your Neighborhood? ANHD released its annual report today giving a community-by-community listing of affordable units at risk of going market rate.
5/7/15: Does the Mayor’s 421a Plan Meet Local Needs? ANHD finds that the plan leaves out key groups – low income and very low income New Yorkers.
5/5/15: ANHD Testifies for a Stronger Community Reinvestment Act. Federal bank regulators invited ANHD to present our analysis on the community panel at the EGRPRA outreach meeting at the Federal Reserve Bank of Boston.
4/21/15: Two Non-Profits are the Key to One Flushing’s Success. Permanently affordable green housing with all the trimmings + economic development. Only a non-profit developer – or two – could pull off housing that’s this comprehensive and successful.
4/21/15: It’s Not About Nostalgia – Good Jobs Go When Junior’s Bakery Closes. 50 people will lose their jobs as NYC loses Junior’s Bakery to New Jersey.
3/16/15: ANHD Releases State of Bank Reinvestment in New York City: 2014 Report. ANHD publishes a comprehensive annual report which for 2014 shows both increases in local bank community reinvestments and needs for improvement.
2/24/15: Strong Zoning for Quality Proposal from Administration. On Friday, February 20, the New York City Department of City Planning released a series of zoning proposals entitled, Housing New York: Zoning for Quality and Affordability, committing to several needed, creative zoning changes that will make it easier to develop the type of affordable housing New York City needs.
2/13/15: Another Investors Bank Loan, Another Bad Landlord. Investors Bank makes a loan to a landlord featured in the New York Times and the NYC Public Advocate’s Worst Landlord list for long-term failure to provide heat or hot water to tenants.
2/12/15: Council Speaker Supports Manufacturing Jobs . Council Speaker Melissa Mark Viverito in her State of the City Speech today pledged to implement the recommendations of an important report, Engines of Opportunity: Reinvigorating New York City’s Manufacturing Zones for the 21st Century.
2/5/15: Local Hearings Begin to Kick Off Responsible Banking Act! First round of public hearings – one in each borough - start next week! (Feb. 9 through Feb. 18). Now is the time for the community to make its voice heard!
2/3/15: Affordable Housing and the State of the City. ANHD weighs in on today’s State of the City address.
2/2/15: 421a Tax Break: Fix It or End It . ANHD’s proposal to make the 421a work for affordable housing.
1/29/15: ANHD’s District Maps – where the 421a tax breaks are. ANHD provides a community-by-community look to determine where the 421a tax breaks occurred in your neighborhood.
1/29/15: Which luxury housing got a 421a tax break? ANHD examines the 421a Developer’s Tax Break including a community-by-community analysis of all the properties that received this tax break in FY 2013.
1/28/15: Press Conference 1-29-15: End the 421a Tax Break . The 421a tax break cheats NYC out of more than $1 billion each year and puts it into the pockets of luxury housing developers. See the ANHD 421a community by community listing of developments that got this tax break in FY 2013.
1/23/15: UPDATE: Why Airbnb is Bad for Affordable Housing. NYC Council’s Committee on Housing and Buildings hosted an eight hour oversight hearing, Short Term Rentals – Stimulating the Economy or Destabilizing Neighborhoods? ANHD members say illegal short-term hotels are destabilizing neighborhoods and endangering our affordable housing.
1/20/15: Stronger Anti-Displacement Tools for a Re-Zoned City. As the de Blasio Administration announces the rezoning of 15 neighborhoods over the next several years one of the biggest concerns for communities is how this will impact their existing affordable housing. Click here for blog
1/15/15: Two Steps for Mixed Income Neighborhoods. With the Furman Center’s report published this weekend showing the erosion of affordable housing in high income / gentrifying communities, ANHD offers 2 methods to keep these NYC neighborhoods equitable. Click here for blog
1/14/15: Local Hearings Set to Kick Off Responsible Banking Act! First round of public hearings – one in each borough – are Feb 9 through 18, 2015. Now is the time for the community to make its voice heard! Click here for blog
12/11/14: How Does Affordable Housing Get Built in NYC? The first in a series of blog posts on the nuts and bolts of housing development in New York City. Click here for blog
12/3/14: City Council Weighs in on Preserving Manufacturing Land & Jobs. City Council’s report, Engines of Opportunity: Reinvigorating New York City’s Manufacturing Zones for the 21st Century, highlights quality jobs via NYC’s industrial and manufacturing sector. The report notes average annual wages in the manufacturing and industrial sector are nearly twice those of the retail, restaurant and hotel sectors, and “the industrial workforce in New York City is over 80% people of color and over 60% foreign-born.”
11/25/14: Protecting the Public Interest in Public Land. The city took the right approach recently when it announced that a 25,000 Square Foot city lot on the West Side of Manhattan slated for affordable housing would be sold for one dollar to a local nonprofit, the Clinton Housing Development Corporation. Click here for blog
11/17/14: Astoria Cove Deal Moves the Ball Forward. ANHD applauds the City’s negotiations for gaining at 27/33 affordability at Astoria Cove, with those units in the 27% being permanently affordable. Click here for blog
10/30/14: New Opportunity for Astoria Cove. Just before City Council votes on the Astoria Cove development, the City discovers an error – the upshot is that Astoria Cove should have been mandated for more affordable housing than originally thought. Will the City now follow through and mandate extra affordable units? Click here for blog
10/30/14: Sandy Recovery Report Card. After a year of coordinating community groups in Sandy-impacted areas to assist recovery efforts, ANHD presents the advances, the needs, and what our focus should be for future resiliency. Click here for blog
10/22/14: Airbnb is Bad for Affordable Housing. A large segment of the Airbnb host population is controlled by commercial interests renting out multiple apartments as short term hotels – which adds up to a big loss in affordable units. Click here for blog
10/10/14: 2014′s Worst Landlords: Who Are They and Who Lends to Them? Based on Public Advocate Letitia James new, comprehensive list of NYC’s Worst Landlords, ANHD has researched who lends to these landlords. Click here for blog
9/22/14: HPD Puts Important Affordability Details in Place. HPD to begin monitoring the marketing and re-renting steps of affordable housing, to ensure that units remain affordable. Click here for blog
9/10/14:Breaking News: NYC’s Responsible Banking Act Upheld. After City Council both passed the RBA bill in 2012 and also overrode a veto from the Bloomberg administration, the New York Bankers Association then took legal action which stalled RBA’s launch. Today, the NYBA’s objections were overruled so that RBA can begin. Click here for blog
9/9/14: Let’s Slam the Door on 80/20 Neighborhoods. On September 5th, the de Blasio administration made its strongest statements yet about its commitment to mandatory inclusionary zoning. ANHD is very supportive and also encourages the City to ensure communities are truly affordable, by increasing the number of affordable units and matching the rents to local incomes. Click here for blog
8/21/14: New York City’s Responsible Banking Act on Trial. In October 2013, 15 months after the RBA was passed, the New York Bankers Association (NYBA) sued the City Council over the law. ANHD’s Jaime Weisberg reports on the court proceedings on Tuesday, August 19th. Click here for blog
8/13/14: What Counts in the Affordable Housing Countdown. Rather than quibble over numbers of units, let’s make sure we build affordable housing that lower-income New Yorkers can actually afford. Click here for blog
8/5/14: When a Bank Makes a Loan to a Problem Landlord: ANHD reports on a major local bank that recently put millions of dollars into five buildings with an owner who, according to multiple media reports, has made a practice of demolishing occupied apartments as a means of forcing tenants to leave. Click here for blog
8/1/14: The Next Big Housing Fight: the 421a Developer Tax Break: The 421a Developer Tax Break cost New Yorkers over $1.1 billion in deferred tax revenue in the 2013 tax year alone. And astonishingly, most City neighborhoods get the Developer Tax Break without having to construct a single unit of affordable housing.Click here for blog
6/20/14: Time for a Rent Freeze. ANHD has crunched the numbers to find that the Rent Guidelines Board has overstated rising operational costs. Meanwhile the City’s Center for Economic Opportunity’s Poverty Measure Report shows that in 2011, an estimated 46% of New Yorkers were poor or near-poor, making less than 150% of the city’s poverty threshold. And according to the 2011 Housing Vacancy Survey, 55.3% of rent stabilized tenants paid more than 30% of their household income in rent, and 33% of tenants paid more than 50% of their housing income in rent. For these and many other reasons, ANHD joins the call for a Rent Freeze. Click here for blog
6/19/14: Astoria Re-Zoning Voted Down by Community Board 1 in Queens. On June 17th, Queens Community Board 1 voted against the proposed Astoria Cove rezoning because the developer did not provide details on how the project would benefit the community, especially around affordable housing, jobs, and community facilities. The community board specifically asked for an increase from 20% to 35% affordable housing and that it be affordable to low-, moderate-, and middle-income families and remain affordable for the life of the building. Click here for blog
6/18/14: Analyzing the Mayor’s Housing Plan – Part 4: Bringing Good Homelessness Prevention Policy to Scale. In chapter 4 of the Mayor’s Plan, Building New York, the City seeks to reinstate homeless families’ priority for Section 8 rental assistance vouchers and public housing apartments units controlled by the New York City Housing Authority. The plan also calls for reducing subsidies to private-landlords-turned-shelter-owners – these emergency homeless shelters are one of the most expensive places to house people, often costing the government in excess of $3,000 a month per unit.Click here for blog
6/17/14: New York State Finalizes New Multifamily Slumlord Prevention Guidelines – No CRA credit for loans that result in tenant harassment or loss of affordable housing. Governor Andrew Cuomo and DFS Superintendent Benjamin Lawsky at the NYS Department of Financial Services are raising the bar in enforcing community reinvestment: multifamily loans that undermine safe, affordable rental housing conditions will not be eligible for CRA credit. Click here for blog
6/13/14: Where are the Specifics in Big Astoria Cove Rezoning? On Tuesday June 10 when Queens’ Community Board 1 held a public hearing on Alma Realty’s proposed rezoning of Astoria Cove, the Board discovered Alma would share no information on the number of affordable units, the level or length of affordability, any plans to hire local residents, and consideration of community impact. Click here for blog
5/28/14: Analyzing the Mayor’s Housing Plan – #2: Analyzing Chapter 2 in the Mayor’s Plan, ANHD finds incentives to preserve affordable housing need updating. Click here for blog.
5/28/14: Analyzing the Mayor’s Housing Plan – #1: Analyzing Chapter 1 in the Mayor’s Plan, ANHD finds that community input is missing from the housing formula. Click here for blog
5/5/14: A New Era of Affordable Housing Policy? ANHD follows up today’s Mayoral Housing Plan announcement with an analysis of its many strong points – and a few areas that need more bolstering. Click here for blog
4/28/14: What the Mayor’s New Housing Plan Should Say: ANHD lists what it will take to reach 200,000 truly affordable units. Click here for blog
4/10/14: How Much Housing Can Inclusionary Zoning Produce? ANHD crunches the numbers on three Inclusionary Zoning models – one of which could produce over 30,000 affordable units. Click here for blog
3/27/14: Tenants Call for Change in Troubled “3 Boro Pool” Buildings Over 100 tenants and advocates rallied on the steps of City Hall last week to urge the City and lenders to preserve affordable housing that is in danger from yet another overleveraged loan gone bad. The owner of the Three Borough Pool portfolio, a group of 42 buildings (1,592 units) spread across Manhattan, Brooklyn, and the Bronx, has defaulted on a loan, throwing more affordable housing into foreclosure with a deadline of 4/22/14. Tenants, advocates, and several City Council members – Ritchie Torres, Brad Lander, Antonio Reynoso, Helen Rosenthal, and Inez Barron – seek to facilitate the transfer of the buildings to a nonprofit, preservation-minded owner. Click here for blog
2/24/14: New ANHD Analysis: Bank Reinvestment and Equitable Economic Development. As the new City Administration makes important policy choices to shape a new economic development policy, ANHD has released a new white paper to help demystify the economic development category of the Community Reinvestment Act (CRA) and encourage effective partnerships and activities by banks, regulators, government officials, nonprofits and for-profit developers. Click here for blog
2/24/14: More Housing Must Equal More Affordable Housing. Under Mayor de Blasio we have the opportunity to do more than just build housing – we need to build the kind of housing that’s truly and permanently affordable to everyday New Yorkers. Click here for blog
2/18/14: Welcoming the Mayor’s New Housing Team. Mayor de Blasio brings in an impressive team. Click here for blog
1/28/14: More funds for the “20″ in 80/20. As of January 2014, New York State is making less funding available for market rate units which leaves more funding available for affordable units in buildings that are 80% market-rate / 20% affordable. Click here for blog
1/22/14: No more bail-outs for market rate housing unless it includes truly affordable units. Instead of simply bailing a real estate purchaser out with a rezoning or special permit, there needs to be a serious negotiation over how much of that new high rise is going to be truly affordable to people in the neighborhood. Click here for blog
1/16/14: ANHD Calls for Broader Housing Reforms – No more tax abatements without affordability. In a January 5, 2014 opinion piece in the New York Daily News, ANHD lays out how Mayor deBlasio’s affordable housing policy should include Mandatory Inclusionary Zoning and continue with even deeper reforms. Click here for blog
1/14/14: ANHD releases new report: State of Bank Reinvestment in NYC 2013: With an annual revenue of over $143 billion, the City is banking much of it with the Boston-based State Street Bank Trust which has no obligation under the Community Reinvestment Act to reinvest in our communities. Click here for blog
FOR ANHD’s 2013 BLOGS (beginning 6-11-13) Click HERE