Speaker numbers apply only to this recording.
The New York City Council Committee on Finance, chaired by Councilmember Linda Lee, convened on Thursday, October 22, 2026, at 10:00 AM in Council Chambers. The committee considered and voted on seven agenda items, including a local law adjusting senior and disabled rent exemptions, a transparency resolution for expense budget designations, a public hearing authorization for eight Business Improvement Districts, and several preconsidered land use applications for real property tax exemptions.
Note on Vote Count Discrepancy: The official written minutes record 15 affirmative votes for the bulk items, 14-1 on the transparency resolution, and 14-0-1 on the MHANY cluster. In contrast, Chair Lee's verbal synopsis in the transcript summarized the bulk votes as 13-0, the transparency resolution as 12-1, and the MHANY cluster as 12-0-1. This discrepancy is noted, and the official minutes are the authoritative record for vote tallies.
Good morning, and welcome to today's New York City Council vote for the Committee on Finance. Ladies and gentlemen, at this time, we please ask you to science all electronic devices. Moving forward, no one is approached the front dayus. Chair, you may begin. Great. Good morning. Um Councilmember Linda Lee, Chair of the Committee on Finance. I would like to recognize my fellow committee members. Umbreyu, Councilmembers Morano and Marte and Narcis and Jay Sanchez, Hudson, Aldebal, Brooks Powers, Wong, and I oh, and Jennero. Um at today's hearing, the committee will consider and vote on the following items. Proposed introduction number 978B, prime sponsored by Councilmember Farrell Lewis, a local law to amend the administrative code of the city of New York in relation to increasing the maximum income level qualifying for exemption from rent increases granted to certain senior citizens and persons with disabilities and adjusting the income requirements related thereto. A transparency resolution sponsored by myself to approve the designation and changes in the designation of certain organizations to receive funding in the expense budget, and five preconsidered resolutions sponsored also by myself that would approve requests from the Department of Housing Preservation and Development for real property tax exemptions under Article 11 of the private housing law for the following projects. 300 West 17th Street in the District of Council Member Wilson, Mahaney Cluster in the districts of Council Members Encarnacion, Felice and Jay Sanchez, and Albans in the District of Deputy Speaker Williams. And finally, um proposed resolution number 666, sponsored by myself as well, which would schedule a public hearing on Thursday, November 19th, 2026 at 11 a.m. in the committee room City Hall to consider legislation that would authorize an increase in the budget of eight existing bids. The eight bids that are seeking budget increases are 34th Street in Manhattan, 82nd Street in Queens, East Mid-Manhattan, Myrtle Avenue in Brooklyn, Bay Ridge Fifth Avenue in Brooklyn, Southern Boulevard in the Bronx, Greater JFK in Queens, and West Village in Manhattan. Okay. Councilmember Jay Sanchez. Uh thank you, Chair Lee. So today's vote on uh T 2026, 2688 is providing a tax exemption specifically for repairs to 917 Eagle Avenue, a walk-up building that is only five stories tall, but has a hundred and twenty-three recorded violations, including 41 Class C violations. According four across the 14 Manny properties in my district. If any of those wires created a fire. These aren't just violations on a spreadsheet. These are the conditions people are expected to come home to every single day. When we talk about building more affordable housing, I want to make it clear that the job of the developer, the property manager, the council member, and everybody else involved is not end once it's built and the tenant moves in. The key to the door should unlock a safe, stable, and dignified home where you can build your future and rest your head at every night, knowing the roof is not about a cave in over you. This cluster goes beyond the boundaries of my district, and I understand that a vote against it would put my colleagues in a difficult position. Today I will abstain from this vote because I want to make clear that this is not the standard in the 17th. We will not give out tax breaks and handouts to people and organizations who are not doing the work that they pledge to do. I demanded that Manny provide a clear plan and timeline to address these conditions. Manny did so in advance of my decision on how to vote today. Manny told our office that these violations will be corrected. But residents deserve more than promises and paperwork. They deserve independently verified repairs and lasting solutions. Manny has a responsibility to maintain their properties, and with this exemption that is likely to pass, they need to ensure that every dollar that they are not paying the city is going towards repairs and directly improving the quality of life of their tenants. This is a direct signal to future applicants of tax abatements in my district. If you need city subsidies to maintain your buildings, I expect you to come with to us with a plan on how you are planning to maintain all of your properties in the 17th Council District. No, we're not voting yet. No. No, I'm just bombing how he's gonna vote. Sorry. Okay, and we've also been joined by council members wrestler as well as Felice. And does anyone else have any comments or remarks? Oh, and Councilmember Felder. Okay.