« Critical Indicator “NA” Not Available ñò Directional Target * None
SERVICE 3 Effectively manage HPD affordable housing assets.
Goal 3a Improve financial and physical stability of existing affordable housing.
HPD’s Division of Asset Management is responsible for ensuring the longevity and affordability of units that the agency
has created or preserved. In Fiscal 2020 HPD increased the rental buildings in its portfolio by ten percent, while the coop buildings in its portfolio increased by two percent from the previous fiscal year. The Asset Management portfolio of
rental buildings has grown as additional affordable housing units financed by HPD are leased up and transferred to Asset
Management. More growth is expected in future years, based on additional development projects under the Housing New
York plan.
The agency tracks information on the physical and financial condition of properties it has financed, and oversees regulatory
agreements ensuring the affordability of properties financed or receiving tax exemptions. This tracking is intended to be
used as an early warning system to detect and mitigate potential risks to buildings and affordability. For Fiscal 2020, 41
percent of rental buildings and 53 percent of co-op buildings in the Asset Management portfolio were at medium or high
risk of physical deterioration, financial distress, or noncompliance with federal requirements. Staff use these risk metrics to
prioritize outreach and intervention efforts in collaboration with owners, partners and multiple divisions of HPD. Through
interventions such as financial assistance, management changes and ownership changes, the agency works to proactively
identify and address at-risk projects before physical or financial distress escalates.
HOUSING PRESERVATION AND DEVELOPMENT | Page 303
Performance Indicators
Actual Target Trend
FY16 FY17 FY18 FY19 FY20 FY20 FY21 5-Year
Desired
Direction
Asset management - Rental buildings in portfolio 3,604 3,843 3,914 4,155 4,571 * * Up *
– Medium/high risk rental buildings in portfolio (%) NA 32.0% 38.0% 36.6% 41.4% * * NA Down
– Medium/high risk co-op buildings in portfolio (%) NA 54.0% 55.0% 58.1% 52.8% * * NA Down
« Critical Indicator “NA” Not Available ñò Directional Target * None
SERVICE 4 Provide affordable housing opportunities for the lowest income New Yorkers and maximize
federal rent subsidies.
Goal 4a Maximize federal rent subsidies to make housing affordable for low-income New Yorkers.
The Housing Choice Voucher program, also known as Section 8, provides federal funding for subsidies for eligible lowincome families to rent quality, safe, and affordable housing in neighborhoods of their choice. Families pay a reasonable
share of their income toward rent and the subsidy, paid by HPD directly to the landlord, makes up the difference within
specified limits. The dwelling unit must also meet federal Housing Quality Standards (HQS) and is inspected prior to move
in and then biennially.
In Fiscal 2020 the overall voucher utilization rate was 97.2 percent, less than one percentage point below the target of 98
percent. The number of vouchers issued decreased by nine percent, to 2,951. While there was a decrease in vouchers issued
because of a significant drop in application submission and an adjustment in client-facing operations at the height of the
COVID-19 outbreak, all of HPD’s vouchers remain committed per the preference categories in HPD’s administrative plan. The
timing of issuing those committed vouchers was impacted, but voucher issuance increased at the start Fiscal 2021. In total,
the number of households receiving a rent subsidy through all the voucher programs increased by two percent to 40,636.
Capital commitments ($000,000) $634.3 $880.0 $1,231.4 $1,508.5 $699.8 $1,485.4 $741.5 Up
¹Actual financial amounts for the current fiscal year are not yet final. Final fiscal year actuals, from the Comptroller’s Comprehensive Annual Financial Report, will be reported
in the next PMMR. Refer to the “Indicator Definitions” at nyc.gov/mmr for details. ²Authorized Budget Level ³Expenditures include all funds “NA” - Not
Available * None
HOUSING PRESERVATION AND DEVELOPMENT | Page 305
SPENDING AND BUDGET INFORMATION
Where possible, the relationship between an agency’s goals and its expenditures and planned resources, by budgetary unit
of appropriation (UA), is shown in the ‘Applicable MMR Goals’ column. Each relationship is not necessarily exhaustive or
exclusive. Any one goal may be connected to multiple UAs, and any UA may be connected to multiple goals
Unit of Appropriation
Expenditures
FY19¹
($000,000)
Modified Budget
FY20²
($000,000) Applicable MMR Goals³
Personal Services - Total $175.8 $193.2
001 - Office of Administration $43.1 $47.0 All
002 - Office of Development $30.2 $34.8 2a, 3a, 4a, 4b
004 - Office of Housing Preservation $62.4 $68.8 1a, 1b
012 - City Assistance to NYC Housing $140.8 $419.3 All
Agency Total $1,090.4 $1,366.4
¹Comprehensive Annual Financial Report (CAFR) for the Fiscal Year ended June 30, 2019. Includes all funds. ²City of New York Adopted Budget for Fiscal 2020, as of June
Includes all funds. ³Refer to agency goals listed at front of chapter. “NA” Not Available *None
Page 306 | MAYOR’S MANAGEMENT REPORT
NOTEWORTHY CHANGES, ADDITIONS OR DELETIONS
• As part of its routine updates and data clean-up efforts, HPD revised previously reported housing data for the below
fiscal years:
− Housing unit starts data for HNY increased slightly in each of the last three fiscal years, rising to 24,374 in Fiscal
2017; 32,343 in Fiscal 2018; and 25,321 in Fiscal 2019.
− Total housing completions (New Housing Marketplace Plan and HNY) increased by 2,835 units to 23,495 in Fiscal
2016, by 8 units to 23,381 in Fiscal to 2017, and by 851 units to 19,266 in Fiscal 2019.
− Very low income unit starts decreased by 145 units in Fiscal 2017 to 6,307, but increased by 14 units to 12,250 in
Fiscal 2018.
− Extremely low income increased by 145 units in Fiscal 2017 to 4,159.
− Units starts that serve senior households increased by 9 to 1,374 in Fiscal 2016, decreased by 1 to 928 in Fiscal
2017, increased by 5 to 1,894 in Fiscal 2018, and decreased by 7 to 1,961 in Fiscal 2017.
• “*” appears as the Fiscal 2021 target for indicators related to the Housing New York (HNY) plan and Housing
Maintenance Code complaints and inspections due to ongoing budget considerations.
• As part of its routine updates, HPD adjusted Fiscal 2021 targets for Housing Maintenance Code complaints.
− The target percent meeting time to close heat complaints within five days increased from 85 percent to 90 percent.
HPD will prioritize resources to ensure that heat complaints are answered in a timely manner.
− The target percent meeting time to close pest complaints within 30 days increased from 59 percent to 60 percent.
− The target percent meeting time to close paint/plaster ceiling complaints within 17 days decreased from 71 percent
to 70 percent.
ADDITIONAL RESOURCES
For additional information on items referenced in the narrative, go to:
• Housing New York: A Five-Borough, Ten-Year Plan: