Notifications pertaining to the expiration dates of affordable housing units.

A Local Law to amend the administrative code of the city of New York, in relation to notifications pertaining to the expiration dates of affordable housing units

This bill would require that the Department of Housing Preservation and Development notify Council Members, prior to the end of each year following the implementation of the affordable housing unit tracking system, of each affordable housing unit in the Council Member’s district for which the regulatory agreement has an expiration date in the sixteenth calendar year after the year of notification. In addition, the bill would expand the definition of “expiring affordable housing unit” to include all affordable housing units that will no longer be required to be affordable within five calendar years, which must be reviewed and reported to Council members annually.