"The Third Party Transfer program, created in 1996, took buildings from landlords who were behind on either property taxes or water bills, and had amassed a significant amount of housing violations. Run by the city's Department of Finance and the Department of Housing Preservation and Development, the program turns run-down properties over to nonprofit entities, which work to physically improve and financially stabilize them as affordable housing."
"But the program ensnared many homeowners in majority Black and Brown neighborhoods, taking away their homes and key sources of generational wealth - leading to its multi-year pause."
"Sanchez proposed legislation - known as the "Stability, Accountability, Fair Enforcement for Residents" or SAFER Act - that would change the distressed properties that could be included in the program. It would also give more notice to property owners and tenants, require repairs to be made to exit the program, and allow owners opportunities to avoid the transfer in some cases."
The Third Party Transfer program, established in 1996, transfers derelict buildings from delinquent landlords to nonprofit organizations for rehabilitation as affordable housing. Run jointly by the Department of Finance and Department of Housing Preservation and Development, the program targets properties with significant tax or water bill arrears and housing violations. However, the program was paused in 2019 after disproportionately affecting homeowners in majority Black and Brown neighborhoods, stripping them of property and generational wealth. Council Member Pierina Sanchez proposes the SAFER Act to reform the program by narrowing focus to severe offenders, increasing notice periods, requiring repairs for exit, and eliminating provisions allowing block-wide foreclosures.
#third-party-transfer-program #housing-policy-reform #racial-equity #property-rights #affordable-housing
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