A proposed $60 million settlement could reportedly compensate elderly Black and Hispanic NYC homeowners whose properties were seized over unpaid bills. They say the city also kept the equity they had built up in their homes. The deal could reportedly settle a 2019 federal lawsuit challenging NYC’s Third Party Transfer (TPT) program, pending judicial approval.
According to Atlanta Black Star, the city used TPT to foreclose on properties with overdue taxes, water bills, or housing code violations before transferring them to nonprofit developers at no cost. The lawsuit covers Round 10, which involved 64 properties and 839 housing units seized in 2017 and 2018.
