When the Giuliani Administration announced its new approach to tax-delinquent housing in October 1995, it stimulated hope in the housing industry that a wider set of policy issues affecting low-income housing would be addressed. In the past year, however, senior staff turnover at key city agencies, including the departments of Housing Preservation and Development, Finance, and Environmental Protection have slowed progress, while the city’s budget problems have not encouraged priority attention to tax relief.
At stake are the prospects for preserving and revitalizing the city’s low-income neighborhoods and the housing that is their backbone. Already during the 1990s are there indications that the financial condition of the private, low-income housing stock is deteriorating. Many housing professionals fear that the deterioration will quicken in coming years, as income support for poor tenants, and indirectly for the housing they live in, is curtailed.
Click here (pdf) to read more about housing taxes as well as the state of teenage employment in New York.