Assembly Speaker Carl Heastie and Chair of the Housing Committee Assemblymember Steven Cymbrowitz today announced that the Legislature has approved allocations for the $2.5 billion affordable and supportive housing funds appropriated in this year and last year's budget agreements. Last year, $150 million of this funding was released for supportive housing initiatives. Today's agreement outlines the schedule for the remaining four years through 2021.
"The Assembly Majority is committed to helping every family in New York secure affordable housing," said Heastie. "Our budget enacts a five year spending plan that helps close some of the gaps that leave New Yorkers vulnerable and ensures meaningful steps towards addressing the affordable housing crisis in our state."
"All across New York State, families are struggling to secure and maintain safe, affordable housing," said Cymbrowitz. "Our budget is responsive to the diverse needs of New Yorkers and will help ensure that families have the programs and resources they need to secure this basic necessity."
The five year $2.5 billion capital plan is allocated as follows:
The approved budget also includes $41 million for homeownership programs, $13 million for the Manufactured Homes Program, and $10 million for the Main Street Program.
The SFY 2017-18 Budget also includes $4.5 million for the Tenant Protection Unit in reappropriated funds.
The state spending plan also provides $155 million from the Mortgage Insurance Fund for various housing programs, including: