Facilitating Preservation of Certain Affordable Housing Dwelling Units

FACILITATING PRESERVATION OF CERTAIN AFFORDABLE HOUSING DWELLING UNITS -- (House of Representatives - May 06, 2008)

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Ms. VELÁZQUEZ. Madam Speaker, let me first commend Chairman Frank, Chairwoman Waters, Mr. Towns, and Mr. King for their leadership in moving this necessary legislation forward.

I proudly support H.R. 5937 because it addresses the need for affordable housing for thousands of families in Brooklyn. Across our country, low and moderate-income working families are increasingly finding adequate housing to be out of reach. No place is this disparity more apparent than in New York City where one out of every four families spends over 50 percent of their income on rent. New Yorkers in many ways face the most difficult housing market.

Starrett City is the largest federally subsidized rental complex in the country with 5,800 units and 14,000 residents. Eliminating these units will leave thousands of families stranded and set a dangerous precedent.

H.R. 5937 represents an agreement between government agencies and the owners of Starrett City to keep the development affordable. This is a carefully crafted deal that ensures the long-term vibrancy of a Brooklyn institution.

Starrett City is a strong, hardworking community. The restaurant workers, hotel employees, and seniors who live there are part of Brooklyn's very fabric. If New York loses Starrett City, we all lose a unique chance to preserve this valuable community and set a precedent for generations to come.

Starrett City is the symptom of a much larger problem in New York City and across our Nation. We have an affordability problem that requires immediate action. Today, we are taking a step in the right direction. By saving one Brooklyn development, we lay the groundwork for affordable housing preservation in the future.

I urge a ``yes'' vote on this legislation.

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