The New York Housing Conference released two policy briefs today on Good Cause Eviction and 421a. Frustrated by state inaction on housing last session and incomplete information on critical issues, the nonprofit adds data and analysis to help shape the discussion.
The first brief analyzes data from the 2021 New York City Housing and Vacancy Survey to determine what we know and don’t know about which NYC renters would be covered by the Good Cause Eviction legislation and what the impact might be. This is the first analysis of the potential impact of the draft state bill on NYC renters.
The second policy brief looks at how 421a fits into NYC’s tools to create affordable housing – tax, zoning, capital subsidy & rental vouchers. Analysis shows that annually NYC creates about 9,300 new affordable homes. HPD subsidizes roughly 6,500 units through capital and discretionary tax exemptions, 421a creates about 2,700 affordable homes each year, and inclusionary housing alone generates less than 80 units per year.
Read Good Cause Eviction Bill Impact report here*.
Read How Does 421a Fit Into Creating Affordable Housing Opportunity in NYC? report here.
*This version has been updated with a correction.