Based upon a preliminary inventory of rent regulated housing stock prepared for the Housing Task Force in approximately 2018, an estimated 21% of Hudson's residents are already living in low-income, permanently affordable, rent regulated housing.
Specifically, most buildings with 6 or more units built before 1974 or financed with federal or state subsidies are already rent regulated/stabilized e.g. Bliss, Terraces, Providence, Terraces, Crosswinds, leaving only a handful of buildings that might be eligible for rent stabilization. Based on these numbers it is all but assured that Hudson's vacancy rate is far higher than the 5% required for participation in the ETPA program.
Accordingly, I cannot justify authorizing the expenditure of $15,000 not budgeted or planned for in the 2020 City Budget to document what we already know. I believe there are better ways to address concerns over affordable housing in Hudson and I am willing to work with the Council on this issue but cannot support this ill-advised use of taxpayer money.