April 1, 2009

State Budget Includes Funding for NYC Affordable Housing and Community Development
$544 Million in Federal Stimulus Funds Dedicated to New York City Public Housing and Homelessness Prevention, $3 Million Restored for New York City Housing Authority

Assembly Speaker Sheldon Silver and Ways and Means Committee Chair Herman D. Farrell, Jr. today announced that the SFY 2009-2010 budget includes funding for crucial repairs and capital investments in New York City Housing Authority (NYCHA) facilities.

Coming in the wake of recent disclosures about the widespread state of disrepair of NYCHA elevators and facilities and record family homelessness, the Assembly leadership worked to maximize federal stimulus dollars for New York City and restore cuts to vital programs to prevent homelessness and preserve affordable housing.

"The Assembly Majority remains committed to creating housing opportunities for working families," Silver (D-Manhattan) said. "The New York City Housing Authority is New York City's largest landlord, providing homes to more than 400,000 New Yorkers. I am hopeful that this funding will help make NYCHA's critical improvements and repairs in facilities and provide increased access to community, educational and recreational programs for the authority's residents."

"We needed to make difficult decisions during this budget process. During a time when we are seeing high unemployment rates and rising homelessness, it is crucial that we support and create programs to protect and preserve affordable housing. This funding will help stabilize housing markets and help New York remain in their homes," said Farrell (D- Manhattan).

Among the NYC housing-related programs included in SFY 2009-2010 budget are: The budget also directs more than $544 million in federal stimulus money to NYC housing assistance incentives, including: