ANHD in NY Times – Championing City Policy for Non-Profit Development

October 21, 2013

In today’s Room for Debate section of the New York Times, ANHD Policy Director Barika Williams discusses the Bloomberg administration’s shift toward paying for-profit developers to build affordable housing, instead of working with non-profit Community Development Corporations (CDCs). However, skilled, mission-driven non-profit developers create the greatest benefit for the community and make the best use of the taxpayer investment – including keeping housing permanently affordable.

Most for-profit affordable housing deals come with an expiration date, often just 30 years. Unlike non-profit CDCs, for-profit developers count on reaping the benefits of market rate rents after affordability restrictions expire. Meanwhile, taxpayers are providing most of the equity for these developments. Our tax dollars should result in more than just short-term benefits and bricks and mortar. CDC.’s include a comprehensive community perspective in their planning, and the commitment to ensure that our neighborhoods stay vibrant places affordable to a wide range of New Yorkers — not just in this generation, but for the future as well. Please click this link to read Nonprofit Developers Stabilize Neighborhoods by Barika Williams in today’s New York Times.