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October 7, 2016
On October 5, 2016 CCC submitted testimony in support of the City Council Resolution calling on the US Department of Housing and Urban Development (HUD) to exclude New York City, and other cities with a housing vacancy rate below 5%, from the Proposed Rule on Small Area Fair Markets (SAFMR).
CCC supported this Resolution because HUD’s proposed rule would adversely affect many low-include families in New York City. The impact of the proposed SAFMR rule on NYC would be to decrease the maximum available subsidy in neighborhoods that HUD designated as high poverty. This would create additional housing instability and rent burden to many low-income New Yorkers.