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AMERICANNewsline

16 JUNE 27, 2025

Mayor Adams Launches Rent Reporting Pilot to Help

Tenants Build Credit through Monthly Rental Payments

New Pilot Program Will Enable Tenants in Affordable Housing to Report On-Time Rental Payments

to Major Credit Bureaus for Free, Strengthen Credit Scores

OUR BUREAU more New Yorkers and double down
on our efforts to make New York a
NEW YORK, NY
more affordable city that is the best
ew York City Mayor Eric Ad- place to raise a family.”
ams has announced a new pi- “From day one, our administra-
Nlot program to help tenants tion has committed to supporting New
in affordable housing developments Yorkers’ ability to achieve financial sta-
report on-time rental payments to bility and avail themselves of opportu-
major credit bureaus, in an effort to nity,” said Deputy Mayor for Hous-
strengthen their credit scores. The ing, Economic Development, and
free program — an effort by the Workforce Adolfo Carrion, Jr. “This
New York City Department of Hous- commonsense pilot will allow renters
ing Preservation and Development to enjoy the benefits of their financial
(HPD), the New York City Housing responsibility, helping New Yorkers to
Development Corporation (HDC), build their credit scores and achieve
and rent reporting platform Esusu their dream of homeownership.”
— will allow eligible tenants in select “Rent is often an individual or
HPD- and HDC-financed affordable family’s largest monthly expense —
housing developments to opt in to All hnorees with Mayor Adams and Dr Raj Bhayani and it’s absurd that, for so long, the
having their rent payments reflect- payments being made never counted
ed in their credit scores. The pilot is doubling the city’s investment in There’s no other way to say it: we are toward building credit,” said HPD
— launched in June 2025 and which the HomeFirst Down Payment Assis- the most pro-housing administration Acting Commissioner Ahmed Tigani.
will run for 15 months — is expected tance Program, to provide even more in New York City history — full stop,” “Today, we’re taking an important
to reach about 500 households. The qualified first-time homebuyers with said Mayor Adams. “Unfortunately, step towards addressing this issue.
initiative is a key component of May- up to $100,000 toward the down pay- too many of our city’s residents, espe- This pilot is about fairness and about
or Adams’ “City of Yes for Families” ment or closing costs of a one-to-four cially Black and Brown New Yorkers, financial opportunity and builds on
plan, first unveiled in his State of the family home, a condominium, or a co- are still struggling to make the jump our efforts to expand access to home-
City address earlier this year, as well op in the five boroughs. from renter to homeowner and build ownership for New Yorkers. If you
as the “Where We Live” fair hous- “We shattered affordable housing generational wealth. If you’re paying pay your rent, you should see your
ing plan for New York City, to help records two years in a row, passed rent on time every month, you should credit go up. And now, for those who
more families achieve homeowner- landmark zoning changes to build see that reflected in your credit score, are a part of this incredible pilot, it
ship. Today’s pilot program follows tens of thousands of new homes, and and with this program, we will help will. Thank you to our partners, in
Mayor Adams’ announcement earlier invested historic amounts of funding make that a reality. We will unlock and out of government, for helping us
this year that the his administration in new housing through our budget. the promise of homeownership for reach this important milestone.”

Mayor Announces Agreement To Create Over 620 New Affordable Homes In Lower Manhattan

ew York City Mayor Eric Adams has an- port rezoning three sites in his district to create the Adams administration’s record as the most
nounced a signed agreement with New new affordable housing. While the original housing pro-housing administration in New York City
NYork City Councilmember Christopher proposal for the Elizabeth Street Garden location history. In addition to creating record amounts
Marte to more than quintuple the amount of would have created just 123 affordable homes, the of affordable housing two years in a row, pass-
new affordable housing to be created in New agreement announced today will create more than ing the first citywide zoning reform in 60 years,
York City Council District 1 over what was orig- 620 new homes across all three sites, building over and advancing five neighborhood plans to cre-
inally planned for the Elizabeth Street Garden five times more affordable housing than originally ate jobs and new housing across the city, the Ad-
site — building over 620 new affordable homes planned through the initial proposal alone. ams administration advanced nearly 2,000 new
— while preserving the iconic Elizabeth Street Additionally, the park will expand its hours homes last week alone through its “City of Yes
Garden and making it a publicly-available gar- and become more accessible to all New Yorkers, for Families” initiative, creating new housing in
den for all New Yorkers to enjoy. and could, if the city chooses to do so, become a Coney Island East New York in Brooklyn and
As part of the agreement, the city will per- part of the New York City Department of Parks Melrose in the Bronx — all helping move clos-
manently pause plans for redevelopment of the and Recreation. er to reaching Mayor Adams’ moonshot goal of
garden while Councilmember Marte will sup- The agreement announced today builds on creating 500,000 new homes by 2032.

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