WeVote
Log In

Bill

Bill

S 5179

Establishes a two year moratorium on the third party transfer program run by the department of housing preservation and development in the city of New York

2025 Regular Session Introduced by Leroy Comrie

Imposes a two-year halt on HPD's third-party transfer program in NYC, pausing new transfers and delaying housing projects for developers, nonprofits, and tenant communities.

REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
0
WeVote Research Nonpartisan
Bill Summary · S 5179

Summary of Bill S 5179

Overview

Bill S 5179 proposes a two-year moratorium on the third-party transfer program operated by the Department of Housing Preservation and Development (HPD) in the City of New York. The bill’s primary aim appears to be pausing new third-party transfers to allow for review and assessment of the program.

What the bill would do

  • Establish a two-year moratorium on the HPD-run third-party transfer (TPT) program in New York City.
  • The text provided does not outline specific exceptions or conditions to the moratorium.

Key provisions (as stated)

  • Duration: Two-year halt on the initiation of new transfers under HPD’s third-party transfer program in NYC.
  • Scope: Applies specifically to the HPD third-party transfer program within New York City. No additional substantive provisions are detailed in the information available.

Who would be affected

  • City of New York/HPD: Must withhold or pause activities related to initiating new third-party transfers during the moratorium period.
  • Prospective transferees: Developers, nonprofit organizations, community-based groups, or other entities seeking to obtain properties through the TPT program would be affected by the pause.
  • Tenants and neighborhoods: Potential housing and neighborhood development projects tied to TPT could be delayed or re-evaluated during the moratorium.

Procedural status and timeline

  • Introduced: February 19, 2025.
  • Current status: Referred to the Housing, Construction and Community Development committee.
  • Legislative actions recorded: Two entries on 2025-02-19 indicating the referral to the same committee (likely a duplicate entry in the record).

Sponsorship and related measures

  • Primary sponsor: Leroy Comrie.
  • Related bills (prior-session): S 3217, S 5779, S 2655. These indicate prior-session versions or related proposals concerning the same topic or program.

Potential impacts and considerations (high level)

  • Oversight and evaluation: A two-year pause may provide an opportunity to review program effectiveness, impacts on housing supply, affordability outcomes, and process transparency.
  • Project delays: Ongoing or planned transfers using the TPT program could be postponed, affecting developers, nonprofits, and tenant organizations.
  • Policy alignment: The moratorium may lead to broader policy discussions about how city surplus or HPD-controlled properties are allocated and transferred.

Note: The available information does not include detailed text on exemptions, definitions, or transition rules. Readers should consult the bill’s full language when released for precise provisions and any proposed implementation mechanisms.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.