Our COUNTER PROPOSAL / POSITION PAPER (Feb. 2018), a response to HPD’s proposed new Regulatory Agreement (RA) presented to HPD on February 13, 2018:  Read it by clicking here (y en Espanol aqui).

Read the legal paper (12.20.2017) by attorney Steven Siegel comparing the history and legal status of HDFCs against HPD’s 2016-2017 proposal: click here

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-URGENT-

NY STATE ASSEMBLY MEMBER HARVEY EPSTEIN RELEASES DRAFT OF BILL TO AMEND PHFL TO THE HDFC COALITION

URGENT--URGENT--URGENT (January 21, 2020) Read our brief summary of State Assemblymember Harvey Epstein’s DRAFT bill to change the Private Housing Finance Law (PHFL) in English and Spanish, along with a copy of Epstein’s draft bil:. click here

(December 2019) Major changes that could greatly affect you, your family and your HDFC co-op could be coming.  Read down below and see our special page on possible changes to the New York State Private Housing Finance Law (PHFL): click here

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HDFC Shareholders: We Need your Input!

HDFC Coalition Policy Committee Releases First Draft of PHFL Proposal, and Meets with NYS Assembly Member Harvey Epstein about his own PHFL Draft Bill

Dec 5, 2019

HDFC Shareholders: There is a LOT going on here in NYC and in Albany, and we want to hear from you!

Here’s what’s happening:

• The HDFC Coalition Policy Committee has been working for the past year on a draft of changes to the New York State Private Housing and Finance Law (PHFL) that we believe would help HDFC co-ops.
• Changes to the PHFL would be to New York State law, and therefore all HDFCs, and NYC government including HPD, would have to abide by any and all such changes.
• Our draft proposal to change the PHFL includes:
  • An improved, and permanent, property tax benefit for HDFC co-ops, so that they are not threatened by the 2029 expiration of the “DAMP” tax benefit, and so that HDFCs located in areas with lower real estate values also receive this much-needed tax relief.
  • A renewal of the tax forgiveness section of the law for distressed HDFCs needing relief from tax arrears.
  • A clarification of existing law with respect to HDFC co-ops with expired restrictions or regulatory agreements; so that such HDFCs can continue to decide for themselves whether to accept or decline PHFL tax relief and associated restrictions, and so that HDFCs can independently reform as typical co-op corporations if, and only if, their shareholders vote to do so.
• Our original plan was to get input from HDFC shareholders citywide before finalizing our proposal, and then promoting it with elected officials.  Then…
• We then recently learned that NYS Assembly Member Harvey Epstein from the Lower East Side of Manhattan was drafting a bill to amend the PHFL, so we requested a meeting with him.
  • We met at his district office on November 15, 2019.
  • We learned that he plans to introduce a draft bill for comment as soon as December 2019.
  • It appears that Epstein’s draft bill to change the PHFL could include many of the aspects of the City’s proposed Regulatory Agreement that HDFC shareholders overwhelmingly opposed and soundly defeated.
  • We will review with our attorneys the Epstein draft when it is issued for comment, and we will release our findings publicly.
• YES…This is a REALLY BIG DEAL! Any changes to the PHFL will likely have a huge impact on you and your HDFC co-op.

Because an effort to change the PFHL is already underway, we decided to release the HDFC Coalition Policy Committee’s draft PHFL proposal and get your input.  We’d like you to review it and give us your comments.  It is very important that we hear from you.  We are also planning public meetings in the near future to discuss our proposal and what may be coming out of Albany.

Make no mistake: HDFC shareholders will make our voices heard! 

Please CLICK HERE FOR OUR SPECIAL PAGE ON THE PFHL.

On this page you will see:

• Our draft PHFL proposal for your review
• Our Dec 2, 2019 letter to Assembly Member Harvey Epstein about our meeting with him, our concerns about changes to the PHFL, and our own draft PHFL proposal that we have asked him to review.  We also requested that he co-host joint town hall meetings with the HDFC Coalition Policy Committee
• News, updates, and notices of public meetings as information becomes available.

We will also be emailing to HDFC shareholders a link to a poll so that you can give your feedback and comments on our proposal.  If you are an HDFC shareholder and you are not on our mailing list, please join our mailing list by clicking here.

Please CLICK HERE FOR OUR SPECIAL PAGE ON THE PFHL.

Thank you,

The HDFC Coalition Policy Committee

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LOWER EAST SIDE HDFC COALITION MEETING MAY 8, 2018 WITH LAWYERS AND ACTIVISTS

TUESDAY, MAY 8, 2018, 7-9 PM at THEATER FOR THE NEW CITY
155 FIRST AVENUE  NEW YORK, NY 10003    (1st Avenue at East 10th Street)

Host: Lisa Ramaci, East Village/Lower East Side Chapter of the HDFC Coalition.

1st Hour: Presentation by HDFC Coalition members John McBride, Glory Kerstein and Blanca Vazquez

2nd Hour: Presentation and Q & A with HDFC attorneys:

– Edward Joseph Filemyr IV, Attorney at Law
– Barry Mallin and Matt Maline of Barry Mallin and Associates, PC
– Steve Siegel, Esq., Counsel, Cullen & Dyckman, LLP

 

MAYOR DE BLASIO AGREES TO MEET WITH THE HDFC COALITION  At the Town Hall Meeting held on December 15th in Manhattan, hosted by Council Member Mark Levine, HDFC Coalition steering committee asked for, and received, a commitment from the Mayor to meet with the HDFC Coalition.  This is the result of much hard work and activism on the part of HDFC shareholders City-wide.  But we can’t let up…we must keep the pressure on by keeping those letters, emails and phone calls going to all of our elected officials, including the Mayor! Click on the “What You Can Do Now” tab to see how to contact your elected officials! See below for the video of the Mayor, with question from HDFC Coalition member Sylvia Tyler at the 22:25 minute mark, with additional questions from HDFC shareholders at 26:10 minutes in and then at the 50:00 minute mark. Great job, Sylvia!!!