Updated to reflect date change to Monday, July 22nd

NEW YORK, NY– On Monday, July 22nd at 1 p.m., City Council will hold a joint oversight hearing on the Department of Housing Preservation and Development (HPD) Third Party Transfer program – please note the . The Committee on Oversight and Investigations and the Committee on Housing and Buildings, chaired by Council Member Ritchie Torres and Council Member Robert Cornegy Jr. respectively, will direct the hearing.

The Third Party Transfer program was introduced in 1996 as a way to reduce the amount of abandoned and severely distressed properties in the city. Currently, the city’s Third Party Transfer program is under fire for wrongfully seizing properties from black and brown homeowners.

Council Member Cornegy has worked aggressively to find out what is going wrong with this program and to identify sustainable solutions. The Council Member and his office have conducted oversight hearings, community meetings, and engaged with community members impacted by the program. The Council Member has proposed Intros 1594 and 1595 to address shortcomings.

“We are going to take a close look at the Third Party Transfer program, and hold HPD to account for any shortcomings. We must assess and reconcile with the impacts that the program is having, particularly in black and brown communities. One mistake can lead to the loss of a generation of wealth for a family.” said Council Member Robert E. Cornegy Jr. (D-36 Brooklyn)

Protecting homeowners and owners of small buildings has been a priority for the office. As co-Chair of the Third Party Transfer program working group, Council Member Cornegy will continue working with the city to refine this tool to ensure the right net is being cast, and that people’s properties are not being seized unjustly.