As The KCP Investigation continues into the city’s taking of fully paid off properties through the Department of Housing Preservation & Development (HPD), Third Party Transfer (TPT) program, KCP has been busy chasing down a number of of leads in trying to unravel the complex role of the government’s involvement. What follows is a few of these odds, ends and false leads with a brief explanation:
FALSE LEAD: 2017 CITY LEGISLATION PROMPTED THE FORECLOSURES
In 2017, the coalition Stand For Tenant Safety (STS) along with the City Council’s Progressive Caucus put together a legislative package of 11 bills, which passed the Council in August of that year.
Among these bills was City Council Member Ben Kallos‘ (D-Manhattan) bill, Intro. 0930, which expands HPD’s (TPT) program, allowing the city to foreclose and sell distressed residential buildings to pre-qualified third parties, and to include buildings whose owners have incurred large amounts of unsatisfied building violations.
The bill, although expanding the definition of “distressed” property, had nothing to do the seizure of more than 60 properties across Central Brooklyn in a single foreclosure judgement last September. The legislation does not go into effect until 2019, and even if it was in effect, would unlikely include the properties featured in KCP’s investigative series as these properties do not have the type of building violations detailed in the bill.