Statement by Comptroller Brad Lander on $500 Million from Battery Park City Authority’s Joint Purpose Fund Being Dedicated...

Statement by Comptroller Brad Lander on $500 Million from Battery Park City Authority's Joint Purpose Fund Being Dedicated to Affordable Housing

New York City Comptroller Brad Lander issued the following statement in response to $500 million being dedicated from the Battery Park City Authority's Joint Purpose Fund to be spent on affordable housing:

"New York City and State government continue to have an urgent and direct role to play in addressing the city's housing affordability crisis. Today, we are thrilled to announce alongside the Mayor and Governor that the Battery Park City Authority Joint Purpose Fund will make a landmark $500 million investment to build and maintain affordable housing in New York City.

"This agreement builds on the Joint Purpose Fund's history of providing critical funds to the construction and maintenance of affordable housing in our City. With these funds, HPD will also have the resources it needs to more effectively build and maintain affordable housing for New Yorkers.

"As recommended in a report issued by my office this past February, Building Blocks of Change, HPD will use a modest portion of these funds to make critical upgrades to the agency's housing finance and development technology. The City of New York has always been at the forefront of community development and it's essential that the dedicated staff at HPD have the tools they need to do their jobs effectively. By clearing the backlog of affordable housing projects that accumulated over the last few years and eliminating bottlenecks and pain points in the development process, our City can continue to set the national example in responding to the housing affordability crisis. I want to thank the Mayor, Governor and Battery Park City Authority for working with our office to use these funds strategically to directly fund and more effectively deliver safe and affordable housing to New Yorkers."

###