THE HUDSON COS. CLOSES $250 MILLION WORKFORCE HOUSING FUND IN PARTNERSHIP WITH NEW YORK CITY PENSION FUNDS

 

Two of the City’s largest municipal pension funds will invest millions in city pension dollars to build workforce housing across the region, creating hundreds of mixed-income units

 

Fund expects to provide the City of New York’s pension funds with significant financial returns on its investment  

 

The Hudson Cos. brings to this innovative public-private partnership its strong historical track record and extensive experience and expertise in developing high-quality mixed-income housing in New York City

 The Hudson Companies (Hudson) has entered into a partnership with two of New York City’s largest municipal employee retirement systems that will invest $250 million to build green workforce housing across the region. Those two pension systems—the New York City Employees' Retirement System, and the Teachers' Retirement System of the City of New York—have allocated city pension dollars towards the creation of workforce housing in the five boroughs of New York City as well as Nassau, Suffolk, Westchester, Putnam, Orange and Rockland counties. The fund is expected to provide the City of New York’s pension systems with a competitive return on its investment.

 

Hudson will be the single partner for this fund and will bring its strong historical investment performance, extensive experience and expertise in developing mixed-income green buildings throughout New York City, as well as its past success deploying pension fund investments to develop high-quality housing in New York City. This partnership demonstrates Hudson’s ongoing commitment to developing quality housing for working families across the region.

 

“Fighting climate change and increasing access to affordable green housing are crucial to making New York City an equitable place to live for generations to come,” said Mayor Bill de Blasio. "Our pension trustees are meeting the moment by divesting from fossil fuels and investing in climate solutions like this partnership: a winning combination for our planet, our city and our pensioners."

 

“This public-private partnership creates an innovative new fund to generate sound financial returns for our pension systems while developing critical new housing throughout the region and preserve affordability in New York City,” said Yvonne Nelson, Head of Real Estate, New York City Office of the Comptroller. “We look forward to this partnership with the Hudson Companies as we invest our municipal pension funds back into the people of this city.”

 

"Now more than ever, it's critical to create high-quality workforce housing for working families," said Joe Riggs, Principal, the Hudson Companies. "This public-private partnership will help address the housing crisis and fair housing goals in New York City and around the region through sustainable, transit-oriented projects, boost local economies through the recovery and create jobs when they're needed most." 

 

“Working families were the hardest hit economically by COVID-19. Too many were left worrying about their jobs and how they’d pay their next rent check,” said Henry Garrido, Executive Director, District Council 37, AFSCME. “This fund is a solution to those issues. By partnering with Hudson Companies, we can create more affordable housing throughout the city, while simultaneously delivering strong returns for pension holders.”

 

Up to 100 percent of the new fund can be used to create residential development, either for rental units or for co-ops and condominiums. At least 70 percent of the fund must be used to create new developments, and rents and purchase prices must not exceed 200 percent of Area Median Income (AMI). Hudson also intends to develop new housing through the fund along transit-rich corridors, limiting the need for cars and contributing to the environmentally friendly aspect of the new fund.

 

This is Hudson’s second partnership with the city’s pension funds to develop mixed-income housing in New York City. In 2013, all five New York City pension funds invested $500 million in residential and commercial real estate, focused in areas affected by Superstorm Sandy, with Hudson acting as one of two development partners.

 

In partnering with Hudson to manage this new fund, the pension funds will benefit from the company’s long track record of high-quality, mixed-income housing development, including two projects developed through the aforementioned Sandy fund—The Lois and The Clark. 

 

The Lois, located at 350 Clarkson Street in Brooklyn, is an eight-story, 250-unit building located on the border of Prospect-Lefferts Gardens and East Flatbush. The Lois was developed at a cost of $105 million, and features a mix of middle-income and market rate residences from studios to three bedrooms, along with exclusive amenities and common spaces as well as 6,000 square feet of ground floor retail. The development has set aside 30 percent of the apartments for households earning 110-130 percent of AMI.

 

The Clark, located adjacent to The Lois at 310 Clarkson Street, is a 170-unit mixed income rental building that was developed at a cost of $62 million. The development has set aside 30 percent of the apartments for households earning 100-130 percent of AMI, thereby ensuring middle income affordability for the long-term. The building also includes 8,000 square feet of ground floor retail, bringing vitality and services to an important neighborhood intersection. 

 

Governor Cuomo Announces Statewide 7-Day Average Positivity Falls to 0.90% - Lowest Since September 21

 

Statewide 7-Day Average Positivity Has Declined for 49 Straight Days

929 New Positive Cases Reported - First Day Under 1,000 Since October 18

1,305 Patient Hospitalizations Statewide - Lowest Since November 4

303 Patients in the ICU - Lowest Since November 9

185 Intubated - Lowest Since November 16

Statewide Positivity Rate is 1.09%

14 COVID-19 Deaths in New York State Yesterday

 Governor Andrew M. Cuomo today updated New Yorkers on the state's progress during the ongoing COVID-19 pandemic.

Earlier today, Governor Cuomo was on Long Island where he announced that the region's 7-day average positivity, 0.72%, is the lowest the region has seen since August 29, 2020.

"Our fight with COVID is not over. We are managing it, but it is not over," Governor Cuomo said. "The greatest tool we have against COVID is the vaccine. I want to encourage New Yorkers to get vaccinated so we can move forward toward a reimagined reopening and build our great state back better than ever."

Today's data is summarized briefly below:

• Test Results Reported - 85,019
• Total Positive - 929
• Percent Positive - 1.09%
• 7-Day Average Percent Positive - .90%
• Patient Hospitalization - 1,305 (-30)
• Net Change Patient Hospitalization Past Week - -276
• Patients Newly Admitted - 121
• Number ICU - 303 (-12)
• Number ICU with Intubation - 185 (-9)
• Total Discharges - 181,231 (+140)
• Deaths - 14
• Total Deaths - 42,608

PUBLIC ADVOCATE'S STATEMENT ON WEEKEND OF INCREASED SHOOTINGS IN NYC

 

 Public Advocate Jumaane D. Williams issued the following statement after  dozens of New Yorkers were shot in incidents across the city from Friday evening to Monday morning.

"This weekend, dozens of New Yorkers were victims of the ongoing epidemic of gun violence - I pray for them, their families, and their communities. The staggering national increase in shootings over the last year coincided with the pandemic, but the trend continues today. I fear that as temperatures rise, so will those numbers, and the lives they represent. And I know, as this occurs in a city with the largest police force and budget in the country, that no amount of headcount or funding is the solution.

On the eve of the anniversary of George Floyd's murder, this is a reminder of the reality that communities of more color are squeezed by both street violence and police violence, and that we should not have to choose between addressing one or the other. New York has an opportunity to lead, and I want to hear from the current leadership, and everyone vying to succeed them, about how they plan to keep New Yorkers safe with a holistic approach to public safety and without the past models that rely on oppressive overpolicing that we know destroy community trust and threatens community safety."

Comptroller Stringer Releases Analysis of FY 2022 Executive Budget

 

Although jobs are steadily returning, unemployment remains high for communities of color, SNAP and cash assistance recipients are increasing, and small business revenues remain a fraction of pre-pandemic level

$15.7 billion federal stimulus must be used to bolster the economic recovery and reopening, get the city’s fiscal house in order, and build the economy of the future

Stringer: “We must take a responsible, long-term approach to using the billions of dollars in federal stimulus funding for a robust and rapid re-opening of the economy, to get businesses open again and our people back to work, and to get our own house in order with a long-term plan for how we will provide the services New Yorkers need and want – even after the stimulus funds are gone.”

  Today, New York City Comptroller Scott M. Stringer released an analysis of the City’s Fiscal Year 2022 Executive Budget and outlined the state of the City’s finances as COVID-19 vaccination rates continue to climb and a full reopening is underway. The new analysis of the Executive Budget spotlights the City’s planned spending of the federal COVID-related aid from President Biden’s American Rescue Plan Act. Comptroller Stringer called for the City to use the funds to enable a strong recovery and build a solid foundation for the future — notably ensuring a robust reopening of the economy and getting businesses and workers back, guaranteeing that the City’s financial condition is strong once stimulus funds are exhausted, and making the necessary investments needed to build the economy of the future.

“As we head into summer, the rise in vaccinations and the reopening of our city means we’re full speed ahead in our economic recovery. But the road ahead is challenging including struggling businesses, persistently high unemployment and too many New Yorkers struggling to make ends meet,” said Comptroller Stringer. “This year’s budget can lay the foundation for our immediate and longer-term recovery — if we get it right. We must take a responsible, long-term approach to using the billions of dollars in federal stimulus funding for a robust and rapid re-opening of the economy, to get businesses open again and our people back to work, to get our own house in order with a long-term plan for how we will provide the services New Yorkers need and want — even after the stimulus funds are gone — and to make the investments we need now to build the economy we want for the future.”

The City’s Economic Outlook

• The U.S. economy is slowly recovering as a return to full employment has been lagging due to low wages, lack of childcare, supply bottlenecks, and a changing labor market.

• Despite positive momentum toward a full reopening — including a steady return of jobs, the return of 24/7 subway service and the scheduled reopening of Broadway — the Comptroller’s analysis of the city’s economy reveals the extent of the remaining challenges, with unemployment rates stubbornly high particularly among New Yorkers of color, the number of SNAP and cash assistance recipients on the rise again, and small business revenue depressed.

FY 2022 Executive Budget and April 2021 Financial Plan

• Thanks to the infusion of federal stimulus funds, the modified Executive Budget for FY 2021 is $100.7 billion dollars — $5.6 billion more than in January — and the Executive Budget for FY22 is $98.6 billion — up $6.2 billion dollars.

• Budget gaps of around $4 billion a year are projected to persist through FY 2025.

Federal Stimulus Aid

• The spending increases this year and over the remainder of the financial plan period are fueled by an additional $15.7 billion dollars in federal COVID-related aid in the budget.

• New York City stands to receive $5.9 billion in flexible funding from the American Rescue Plan Act (ARPA) stimulus aid, and nearly $7 billion for education from the ARPA and last December’s stimulus bill.

• Comptroller Stringer’s analysis identified how the Mayor’s Executive Budget proposes to use the additional federal stimulus funding, and offers a vision of how the funds should be used to bring about a sustainable recovery.

Responding to and Recovering from the Pandemic

• The Comptroller’s analysis found that more than half of the federal stimulus funding will go to initiatives aimed at responding to the pandemic and reopening the economy.

• This funding includes investments in expanding disease control and lab capacity, reopening schools, vaccinations and immunization efforts, and testing and tracing.

• Other proposed initiatives include expanded rental assistance for the homeless or those at risk of homelessness; a citywide cleanup initiative; small business loans, grants, and other support; emergency food assistance and youth programs.

• The largest funding allocation — $3.6 billion — will go to DOE programs including academic recovery and student support services, special education services, and IT services.

• The budget does not provide details, however, on how a substantial portion of these funds would be used beyond very broad categories.

Expanding Existing Programs and Creating New Resources

• A significant portion of stimulus funding is focused on investing in new programs and expanding existing ones.

• Many of these initiatives are positive developments, including expanding universal 3-K, expanding and improving services for seniors, providing adequate overhead reimbursement for non-profit social service contractors, and providing access to counsel in housing court.

• The Mayor’s plan for these programs, however, does not include sources of City funds to continue them when stimulus funds are used up in FY 2025.

Economic Recovery and Reopening

• Comptroller Stringer emphasized that a robust and rapid reopening of the economy to get businesses open again and New Yorkers back to work is needed — especially small and minority-owned businesses that have the fewest resources and those that have struggled to get access to assistance during the pandemic.

Getting Our Fiscal House in Order

• The financial plan lacks a path to longer-term financial sustainability, with little progress toward lowering outyear budget gaps.

• A long-term plan for how the City will provide the services New Yorkers need and want must including looking closely at agency budgets for savings to see how they could provide services more efficiently.

• The City must do more to bring reserves back to at least 12 percent of City spending as the current budget cushion has fallen to under 8 percent.

Building the Economy of the Future

• Comptroller Stringer noted that New York City needs to train its workers for the jobs of the future including technology and health care — investments that must be made through stimulus funding now.

• Comptroller Stringer called on the City to harness one-time stimulus funding to make capital investments, including expanding broadband access, repairing water and sewer systems, meeting the challenges of climate change, and transforming streetscapes.

To read Comptroller Stringer’s full analysis, click here.
To read Comptroller Stringer’s report on the FY2022 Executive Budget, click here.

223 Days and Counting Things are Getting Better

 

It looks like we are beating COVID finally, and I want to say that public schools will reopen in September with full day session as before the pandemic. We made some more gimmicks to get people to be vaccinated, and the infection rate keeps dropping so we should be fully open on July 1st for the Macy's fireworks display on the 4th. 

Remember comes January 1st, 2022 there will be a new mayor, or should I say a new Democratic mayor, because the winner of the Republican primary doesn't stand a ghost of a chance of becoming the next mayor.

Street Co-Naming Ceremony for Beatrice 'BEA' Castiglia Catullo

 

Street Co-Naming Ceremony for Beatrice 'BEA' Castiglia Catullo

By Robert Press

It was a bright sunny Saturday morning at the corner of Morris Park Avenue and Matthews Avenue, where there was a new street sign to be added under the sign for Morris Park Avenue. Dr. Anderson Torres, President and CEO of R.A.I.N. said that Bea (as she was known to most) is looking down on this ceremony, and is still with us in spirit. A short time later one of the many balloons that were around the street just popped to the laughter of many. 

Beatrice Castiglia Catullo was the founder of R.A.I.N. Total Care Inc. Bea became a nurse in 1947 at Westchester Square Hospital, working there until she founded RAIN in 1964. She gave the organization that name while caring for a patient at the hospital. He was so impressed by her care, and upon learning that she was going to start her own care company he wanted to donate $500,00 to her new company, Bea was asked who to make the check out to, and after looking out the window on a stormy day she said make it out to RAIN, and the rest is history.

Above - R.A.I.N. President & CEO Anderson Torres Talks of Bea, and the vision she had that continues today, even after her passing. A portrait of Beatrice Castuglia Catullo was placed on an easel next to the speakers. 

Below - Councilman Mark Gjonaj  spoke of the many wonderful things Bea did for many communities, and that she was the closest thing to a saint the Bronx has had.

Above - Bronx Borough President Ruben Diaz Jr. said that when he goes to a RAIN center he is the one who gets tired out from dancing with all the ladies at the RAIN centers. He also said that he is happy to support RAIN.

Below - State Senator Luis Sepulveda said This is all about Bea, and the continuance of RAIN, adding he learned how to play dominoes in a RAIN center in his senate district.

Above - The street sign Beatrice Castiglia Catullo Way is unveiled to the joy of everyone present.

Below - The family was given another street sign for them to have.

Governor Cuomo Announces 64% of Adult New Yorkers Have Received at Least One COVID-19 Vaccine Dose

 

55% of Adult New Yorkers Completed Vaccine Series

52% of All New Yorkers Have Received at Least One Dose; 44% Completed Series

97,778 Doses Administered in the Last 24 Hours

822,376 Doses Administered Over Past Seven Days

Vaccine Dashboard Updated Daily on the State's Vaccine Program Here

 Governor Andrew M. Cuomo today announced 64 percent of New Yorkers ages 18 and older have received at least one dose of the COVID-19 vaccine, and 55 percent have completed the vaccine series. 97,778 doses have been administered across the state's vast distribution network in the last 24 hours, and 822,376 doses have been administered statewide over the past seven days. The week 23 allocation of 753,680 first and second doses is expected to finish arriving today. As of May 23, the weekly vaccine allocation update will not differentiate between first and second doses because of changes in the federal government's vaccine ordering process.

"Thanks to our providers who are working tirelessly to get more shot into people's arms, we continue to make progress in our vaccination efforts, but our fight against COVID is far from over," Governor Cuomo said. "If want to defeat this beast, we need more New Yorkers to get vaccinated as quickly as possible. All you need to do is show up at one of our many vaccination sites and roll up your sleeve — it's that simple."  

All New York State mass vaccination sites are now open to eligible New Yorkers for walk-in vaccination on a first come first serve basis. The walk-in appointments are reserved for first doses only with second doses to be scheduled automatically after administration of the initial shot. In addition, all vaccine providers are encouraged to allow walk-in appointments for eligible New Yorkers. People who would prefer to schedule an appointment at a state-run mass vaccination site can do so on the Am I Eligible App or by calling 1-833-NYS-4-VAX. People may also contact their local health department, pharmacy, doctor or hospital to schedule appointments where vaccines are available, or visit vaccines.gov to find information on vaccine appointments near them.                                            

STATEWIDE BREAKDOWN

Total doses administered - 18,377,799

Total doses administered over past 24 hours - 97,778

Total doses administered over past 7 days - 822,376

Percent of New Yorkers ages 18 and older with at least one vaccine dose - 63.5%

Percent of New Yorkers ages 18 and older with completed vaccine series - 54.7%

Percent of all New Yorkers with at least one vaccine dose - 51.9%

Percent of all New Yorkers with completed vaccine series - 43.9%    

Brooklyn Man Arrested for Arson of Yeshiva and Synagogue

 

 A criminal complaint has been filed in federal court in Brooklyn charging Ali Alaheri with setting fire to a yeshiva and synagogue in Brooklyn on May 19, 2021.  Alaheri was arrested in Dobbs Ferry, New York, yesterday and will make his initial appearance this afternoon before United States Magistrate Judge Vera M. Scanlon. 

Mark J. Lesko, Acting United States Attorney for the Eastern District of New York; John B. DeVito, Special Agent-in-Charge, Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF); Dermot Shea, Commissioner, New York City Police Department (NYPD); and Daniel A. Nigro, Commissioner, New York City Fire Department (FDNY), announced the arrest and charge.

“As alleged in the complaint and detention letter, Alaheri deliberately set fire to the sacred home of a yeshiva and synagogue, and viciously attacked a man wearing traditional Hasidic garb, demonstrating a violent hatred that cannot be tolerated,” stated Acting U.S. Attorney Lesko.  “This Office strongly condemns these sorts of intentional acts of violence and we will go to every length possible to prosecute this type of conduct to the fullest extent possible.”  Mr. Lesko praised the special agents, detectives and fire marshals of the Strategic Explosive and Arson Response Task Force for their outstanding investigative work on the case.

“The defendant’s alleged actions endangered the lives of numerous individuals, from the congregants and students at the synagogue and yeshiva, to the first responders who arrived to extinguish the flames, to the neighboring members of the community,” stated ATF Special Agent-in-Charge DeVito.  “The members of ATF’s Arson and Explosives Task Force, in partnership with NYPD’s Hate Crime Unit, worked diligently to quickly identify the defendant and bring him to justice.   I thank them for their efforts, as well as those of the U.S. Attorney’s Office, in sending a clear message that crimes such as this will not be tolerated.”

“Ali Alaheri, as alleged in today’s federal complaint, set fire to a school and religious institution and threatened public safety for all. I commend our NYPD investigators, our government partners and the prosecutors in the United States Attorney’s Office for the Eastern District of New York for their work in bringing swift justice in this case,” stated NYPD Commissioner Shea.

“Arson is a callous and senseless crime that endangers the lives of innocent residents and our firefighters who bravely respond to protect life and property,” stated FDNY Commissioner Nigro. “I commend our Fire Marshals and their partners in law enforcement for their outstanding efforts to investigate this incident and apprehend the suspect.”

As set forth in the complaint and detention letter, in the pre-dawn hours of May 19, 2021, Alaheri was captured on surveillance video piling garbage bags against the side of a building on 36th Street in Brooklyn that housed a yeshiva (a Jewish school) and a synagogue.  Alaheri was recorded igniting the garbage bags.  Firefighters responded to a fire alarm at the location and extinguished the blaze.  Several hours later, Alaheri was again captured on surveillance video, this time repeatedly punching a man wearing traditional Hasidic garb.  There was no interaction between Alaheri and the victim prior to the assault.  When Alaheri was arrested on May 21, 2021, he appeared to be wearing the same clothing he was wearing in the video footage of the assault.

The charge in the complaint is an allegation, and the defendant is presumed innocent unless and until proven guilty.  If convicted, Alaheri faces a mandatory minimum sentence of five years’ imprisonment, and a maximum of 20 years’ imprisonment.

The government’s case is being handled by the Office’s Civil Rights Section.  Assistant United States Attorney Rachel Shanies is in charge of the prosecution.