Resolution to calling for greater transparency in PLP Contracts.
New York City SDA, April 30th, 2022.
Whereas the City of New York Department of Housing Preservation and Development (HPD) Participation Loan Program (PLP) is not sufficiently transparent and cannot be effectively held accountable for its fulfillment of its fiduciary duties as "supervisory agency" for Housing Development Fund Corporations (HDFCs) as mandated by Article 11, § 572 (14) of the New York State Private Housing Finance Law.
Whereas many of HPD's public/private partnerships, intended for providing affordable housing programs for low and moderate income residents, are in poor condition and financial distressing, causing suffering for residents.
Whereas efficient affordable housing programs for low and moderate income residents of the City of New York cannot succeed without transparency.
Whereas all HPD affordable housing Participation Loan Program (PLP) contracts with nonprofits, sponsors and developers should be listed and be easily retrieved in the Passport Contracts Database.
Whereas under Local Law 76, the publication of PLP contracts is only required "where feasible" and such contracts are rarely reported.
Whereas HPD's public/private partnerships must promote transparency and accountability.
Be it resolved that the Social Democrats of America hereby joins the Four Freedoms Democratic Club calls to amend Local Law 76 to require:
All contractors participating in any public/private affordable housing Participation Loan Programs (PLP) with the City of New York Department of Housing Preservation and Development (HPD), must disclose all such contracts in the Passport Contracts Database pursuant to Local Law No. 76, effective January 1, 2019, requiring information about city contracts to be available online for public access to include agency name, program, contractor name, contract category, contract number, contract scope and contract amount.
Return to the home page