Res 0257-2024

Whereas, New York City has a housing crisis with a vacancy rate of 4.54% in 2021 according to data from the most recent Housing Vacancy Survey (HVS); and Whereas, According to the 2022 Income and Affordability Study by the Rent Guidelines Board, the approximate proportion of households citywide paying 30 percent or more of their income towards gross rent is 51.7 percent and the proportion paying 50 percent or more of their income is 28.3 percent; and Whereas, Tenants who are rent burdened could quickly become unhoused due to an unexpected financial setback, illness, or personal crisis; and Whereas, According to the Coalition for the Homeless, a homeless advocacy group, in the past few years homelessness in New York City has reached the highest levels since the Great Depression of the 1930s; and Whereas, In October 2022, the Coalition for the Homeless reported that there were 65,633 People in New York City experiencing homelessness, including 20,751 children; and Whereas, New York City has taken steps towards addressing the affordable housing crisis by passing the Mandatory Inclusionary Housing Law, however, in order to add more affordable housing, neighborhoods need to increase residential capacity by increasing density and allowing for larger buildings; and Whereas, Many neighborhoods in Manhattan are prohibited from increasing a building's size because there is a cap on the floor area ratio on residential density; and Whereas, In 1961, New York State passed an amendment to the state's Multiple Dwelling Law, forbidding a floor area ratio larger than 12 which means residential buildings cannot be 12 times larger than the size of the lot they were built on; and Whereas, According to a report from the Regional Planning Association, other urban areas in the region, such as Jersey City, with less mass transit options, parks and jobs per capita allow for residential developments to have a floor area ratio of up to 25; and Whereas, The same report stated that without the ability to build more housing, Manhattan and other core areas in New York City will continue to become more expensive and continue to place enormous pressure on existing affordable housing units; now, therefore, be it Resolved, That the Council of the City of New York calls upon the New York State Legislature to pass, and the Governor to sign, legislation lifting the floor area ratio (FAR) cap. Session 13 LS #12060 01/18/2024 Session 12 JLC 2/6/2023 LS 12060