[Congressional Record (Bound Edition), Volume 154 (2008), Part 6]
[Extensions of Remarks]
[Page 8370]
[From the U.S. Government Publishing Office, www.gpo.gov]




                     KEEP STARRETT CITY AFFORDABLE

                                 ______
                                 

                         HON. ANTHONY D. WEINER

                              of new york

                    in the house of representatives

                         Thursday, May 8, 2008

  Mr. WEINER. Madam Speaker, I rise to discuss the need for additional 
affordable housing across the nation. Financial planners suggest that 
families devote 30 percent of their income to paying for housing costs. 
But for many families across the country such a rule of thumb sounds 
more like a pipe dream. According to the 2006 American Community 
Survey, twenty-five percent of renters across the nation spend more 
than 50 percent of their income on rent. Nationwide, there are 9 
million extremely low-income households but only 6 million units 
renting at affordable prices, leaving a shortage of 3 million 
affordable housing units.
  In my hometown of New York City, 28 percent of renters are paying 
more than half of their income for rent. Keeping the Starrett City 
development in Brooklyn affordable is critical. Starrett City is the 
Nation's largest government-subsidized rental housing complex. It was 
designed in the 1970s as a subsidized, middle-class co-operative under 
New York State's Mitchell-Lama program. It is home to 12,000 residents 
in nearly 6,000 housing units. Most of the residents of Starrett City 
live on annual gross incomes of about $20,000 to $40,000 and the 
average subsidized rent is $200-$400.
  I, along with my colleague from New York, Representative Edolphus 
Towns, requested that the House Financial Services Subcommittee on 
Housing and Community Opportunity hold a field hearing in New York City 
following an attempt to sell Starrett City that jeopardized the 
complex's affordability. The hearing was held in July 2007 and 
investigated the impact of affordable housing sales on housing costs in 
New York City.
  Mr. Towns' legislation before the House today will allow owners and 
the Department of Housing and Urban Development to convert the current 
subsidy contracts that are in place at Starrett City into a new, 20-
year Section 8 contract. This will ensure that a new owner can secure 
the long-term financing necessary to keep Starrett City affordable and 
its tenants in their homes.
  Without this legislation, Starrett City's owners would likely opt out 
of their Section 8 contract and convert Starrett City to market-rate 
housing, further contributing to the lack of affordable housing in New 
York City.
  I thank my colleague, Mr. Towns and support his legislation.

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