Thursday, September 24, 2026, 11 a.m. (New York City time), 250 Broadway - 8th Floor - Hearing Room 3
Committee: Committee on Housing and Buildings
The Committee on Housing and Buildings, chaired by Council Member Pierina Ana Sanchez, met to vote on Proposed Introduction Number 1015-A, a bill to improve and extend the J-51 tax abatement program. The chair explained that the bill extends J-51 for ten years, with eligible projects completed between June 30, 2026 and June 30, 2036, raises the recoverable share of reasonable rehabilitation costs from 80% to 100%, and increases the assessed valuation cap for co-ops and condos from $45,000 to $60,000 per unit, to be updated for inflation. She noted the state authorized the extension earlier in 2026, that the program could reach more than 300,000 co-op and condo units citywide, and that the bill maintains accountability mechanisms including the affidavit of no harassment and adds comprehensive reporting on benefits. The item was adopted by a recorded committee vote read aloud as 11 in the affirmative, none in the negative, with no abstentions.
0:09 Ready hello good morning
0:09 welcome to today's New York
0:12 City Council vote at this time s
0:17 moving forward no one needs t
0:18 begin thank you sergeants and
0:36 good morning I'm councilmember
0:37 purina Sanchez Sanchez chair
0:38 of the committee housing and
0:40 buildings today the committee
0:40 will be voting on proposed
0:42 intro number 1015 8 a bill t
0:45 oimprove and extend the j 5
0:46 1tax abatement program New York
0:48 City is facing a housing
0:49 crisis and a climate crisis
0:51 and our aging buildings are at
0:52 the center of both our
0:54 buildings are among the
0:56 largest sources of greenhouse
0:58 gas emissions even as they
0:59 nstranding seniors and people
1:04 with disabilities roof boilers
1:05 and electrical systems and
1:07 other critical infrastructures
1:08 need investment and in the
1:09 bronx and queens we are living
1:11 the deadly consequences of
1:13 aging housing and fire hazards
1:15 . While government has a
1:17 responsibility to set high
1:18 standards for owners to keep
1:20 building safe protect building d
1:23 reduce emissions we must also
1:25 help owners to make the
1:26 investments being asked of
1:28 them
1:28 . Today I am proud that the
1:29 council will be voting on 10
1:31 215 a which will do just that
1:34 by improving and extending the
1:35 j 51
1:36 . Tax abatement program just
1:38 51 offers a tax abatement for
1:40 eligible multi family housing
1:41 including certain rental
1:42 buildings co ops and can
1:44 condos it's one of the city's
1:46 most important financial tools
1:48 for helping owners to keep up
1:49 with costs the cost necessary
1:53 to preserve and upgrade their
1:54 properties including energy
1:55 efficiency work so that
1:56 buildings can better comply
1:57 with local law 97 and this is
2:00 not a small program the mayors
2:02 report on tax expenditures
2:04 reports that the City
2:05 dedicated $212.7 million to
2:09 the j 51 program in the 20 2
2:11 6fiscal year that's foregone
2:14 gone tax in service of
2:17 improving old properties this
2:19 program enables building
2:20 owners to replace elevators
2:21 wheelchair lifts repair
2:22 roofing install energy
2:24 efficient equipment and 51 is
2:26 only becoming more essential
2:27 as older buildings buildings
2:29 continue to deteriorate and
2:30 climate change solutions
2:31 climate change excuse me
2:33 continues to require urgent
2:35 action earlier this year New
2:36 York state authorized the City
2:37 to extend a 51 and made three
2:40 key changes first the
2:42 legislation will provide a
2:43 longer extension than previous
2:45 re authorizations have passed
2:47 today 10 2 1015 a will extend
2:51 51 4 10 years this means
2:51 eligible projects that are
2:54 complete between June 30 and
2:59 2026 June 30 2036 when I will
2:59 finally be 21 years old
3:00 . Just kidding are able to
3:03 receive this tax benefit
3:05 second under 1015 a building
3:07 owners would now be able t
3:09 orecover up to 100% of the
3:11 reasonable cost of their
3:12 rehabilitation work it used t
3:13 obe 80% and third for co ops
3:17 and condos this bill raises
3:19 the assessed valuation cap for
3:21 from $45000 per unit to $60000
3:25 per unit and will be updated
3:26 regularly to account for
3:28 inflation.
3:28 With these changes the
3:29 program has the potential to
3:30 reach more than 300000 co ops
3:33 and condos units citywide and
3:36 in addition in addition t
3:37 othese changes 10 2 15 a will
3:40 maintain previous
3:41 accountability mechanisms for
3:42 terminating or revoking the
3:43 benefits if any building fails
3:44 to comply with the program
3:46 requirements including the
3:48 affidavit of no harassment the
3:50 council is also adding
3:52 comprehensive reporting on
3:53 which buildings receive the
3:54 New 51 benefit how much they
3:56 received the categories of
3:56 work they are pursuing where
3:58 they are located and the
4:00 breakdown between rental and
4:01 home ownership buildings this
4:03 will provide the public with a
4:04 transparent with transparent
4:06 information on how the City is
4:08 using its resources and help
4:10 to shape future iterations of
4:11 the 51 program
4:14 . Finally the thank you's
4:15 first I want to thank the
4:16 green co op council for their
4:19 persistent advocacy and state
4:20 senator brian cavanaugh the
4:21 chair of housing in the senate
4:23 for his leadership on this
4:24 issue in the legislature t
4:26 othe housing and buildings
4:28 committee staff senior
4:29 legislative counsel austin
4:30 malone legislative council
4:32 billy x senior policy analyst
4:33 jose conde senior policy
4:36 analyst dirk spencer finance
4:37 analyst carla naranjo narn ho
4:40 and data scientist mohamed
4:41 shadid and noah sloss berg and
4:43 last but not least my team
4:44 deputy chiefs of staff ben
4:46 ratner and kim castellanos
4:48 district director maria jose
4:51 mares gerard fernandez aurea
4:52 or ilana roa acevedo's soraya
4:54 ila markus khan and jacob
4:55 hayward I want to take this
4:57 moment to send a very special
4:59 shout out to dylan campbell's
5:03 our incredible legislative
5:03 fellow and who for today this
5:05 will be his last stated
5:07 meeting with us we're just so
5:08 lucky to have had you on our
5:09 team you got us out of.
5:11 A quite a few pickles and
5:13 past you know some some really
5:15 important moments thank you so
5:16 much for everything you did
5:17 for this team you will always
5:18 be a part of team Sanchez and
5:21 I'm doing today my my
5:22 colleagues but I'll turn it
5:23 over to the clerk to call the
5:25 rule
5:25 . I ben jacobs squinty clark a
5:28 roll call vote for intro 101
5:32 5a cherry Sanchez hi.
5:35 Councilmember Riley high
5:37 Council Member felice ii on
5:39 all che this is a very
5:41 important step to make sure
5:42 that our affordable housing is
5:44 in a clean habitable and safe
5:46 conditions so congrats iron
5:47 ore majority leader brue I and
5:50 congratulations chair
5:51 councilmember Hudson council
5:54 member Joseph councilmember
5:55 Wilson Williams I'm sorry
6:00 Council Member salam of what I
6:03 am congratulations
6:05 councilmember Zhuang.
6:06 I vote I congratulations
6:10 councilman Maloney council
6:13 member the vote stands at
6:14 seven in the affirmative with
6:16 none in the negative and no
6:19 abstentions.
6:19 Thank you clerk we're going
6:21 to hold open the vote for a
6:22 you colleagues I'm ready I'm
8:52 ready.
8:53 You councilman continuing thee
9:42 roll call vote for intro 10
9:46 215 councilmember Hudson I I
9:50 can't remember uh
9:54 councilmember Williams.
9:54 How about I think cher
9:57 councilman roe Maloney
9:58 . I vote I thank you for
10:00 . Stands at 10 in the affirmed
10:01 rim none of the negative with
10:05 one moment continuing the roll t
11:07 call vote for intro 10 2 15 a
11:09 councilman for Joseph vote
11:12 stare at the is 11 in the
11:16 affirmative none in the
11:17 negative no abstentions the
11:19 item is adopted
11:21 . And clerk that's a full
11:24 committee all right with that
11:24 thank you so much everyone
11:25 this hearing