Implementation of a tracking system for and a review of expiring affordable housing units.

A Local Law to amend the administrative code of the city of New York, in relation to implementation of a tracking system for and a review of expiring affordable housing units

This legislation would require the Department of Housing Preservation and Development (HPD) to create a tracking system for start and expiration dates for all department regulatory agreements and affordability requirements. HPD is required to report on a plan to implement such tracking system and to report annually on the progress of creation of the implementation plan. Following the implementation of the tracking system, HPD must audit for the number of expiring affordable housing units in each income band and in each neighborhood tabulation area, and report to the Council annually on the results of that audit and plans for preserving the affordability of the expiring units.