ALBANY – A Democratic candidate for state comptroller has been touting his inexpensive housing bona fides — regardless of having labored for a nonprofit developer with a checkered previous.
Drew Warshaw is working to unseat longtime Democratic incumbent Tom DiNapoli – with a proposal to take a position $10 billion from the state pension fund into inexpensive housing growth and preservation.
Till he give up final yr, Warshaw was making round $800,000 as COO of Enterprise Group Companions.
The nonprofit housing developer and financier has confronted authorized motion for allegedly working dilapidated buildings and funding subsidiaries which were accused of lending to predatory cellular residence parks.
The corporate agreed to a $1 million settlement with the Workplace of the Lawyer Basic for DC after stories uncovered deplorable circumstances at s Mayfair Manor property, in one of many metropolis’s poorest neighborhoods.
Enterprise appeared poised to dump the event, one among over 100 properties in its portfolio, final yr, citing considerations about DC’s stringent tenant safety and hire insurance policies.
The nonprofit additionally offers capital funding to Bellwether Enterprise, which distributes loans to cellular residence park house owners similar to Havenpark Communities, an organization that’s been accused of mountain climbing prices on tenants and evicting house owners for falling behind on funds.
“I couldn’t be extra proud to have led a nonprofit group that gives inexpensive properties to 23,000 individuals who couldn’t in any other case afford one, and invests $2 billion in inexpensive properties yearly,” Warshaw informed The Publish in a press release.
“Sadly, that’s extra money from one nonprofit than Tom DiNapoli has invested from New York’s whole $300 billion public pension fund. That’s the reverse of the management and urgency we’d like proper now,” he stated.
“These properties in Ward 7 that Enterprise inherited had been lengthy uncared for and Enterprise labored tirelessly to rehabilitate them,” Warshaw added concerning the DC growth.
Political watchers additionally famous Enterprise may theoretically profit from Warshaw’s state pension fund pitch. A number of the firm’s staff have given 1000’s of {dollars} to his comptroller marketing campaign.
“We expect it must be unlawful to get giant contributions from people who find themselves could also be beneficiaries of state funding, significantly if the candidate is instantly concerned in it,” Rachael Fauss, Senior Coverage Advisor at good authorities group Reinvent Albany, informed The Publish.
State legislation at present prevents corporations which have obtained investments from the pension fund from making political contributions.
“The period of again room offers will finish when Drew Warshaw is comptroller. Funding choices made by this new inexpensive housing fund can be ruled by a first-of-its-kind open, clear and strictly-adhered-to aggressive course of,” stated Sara Trenor, Warshaw’s marketing campaign supervisor.
A rep for Enterprise stated that Warshaw’s roughly $800,000 per yr compensation was in keeping with comparable nonprofit organizations, particularly given his background in growth. Warshaw had additionally beforehand served as each COO and CEO of one of many firm’s subsidiaries.
Warshaw is working in an unusually crowded main towards DiNapoli and two different Democrats – Raj Goyle and Adem Bunkeddeko. Joseph Hernandez is the Republican candidate.
DiNapoli was deemed the state Democratic committee’s favored nominee at its conference earlier this month, with Warshaw receiving a puny 10% of the weighted voted. Bunkeddeko and Goyle didn’t take part within the conference, however are nonetheless petitioning to seem on the June main poll.
