2002 Yellow Book |
Backward Forward Cover Overview Table of Contents |
HOUSING FINANCE AGENCY |
Adjusted Executive Appropriation Request Percent 2001-02 2002-03 Change Change AGENCY SUMMARY General Fund 700,000 665,000 (35,000) -5.00% Total for AGENCY SUMMARY: 700,000 665,000 (35,000) -5.00% AID TO LOCALITIES General Fund 700,000 665,000 (35,000) -5.00% Total for AID TO LOCALITIES: 700,000 665,000 (35,000) -5.00% Capital Grant/Low Rent Lease General Fund 700,000 665,000 (35,000) -5.00% Total for Program: 700,000 665,000 (35,000) -5.00% BUDGET HIGHLIGHTS (Executive Budget: pp. 193-194) The Housing Finance Agency (HFA) is a public benefit corporation that finances low and moderate income rental housing. HFA issues taxable and tax-exempt bonds to provide mortgage loans to developers of mixed income and affordable rental projects. HFA also plays a role in administering housing programs supported by State and Federal appropriations. The Agency is included in the Transportation and Economic Development appropriation bill. Aid to Localities The Executive recommends an appropriation of $665,000, a decrease of $35,000 from State Fiscal Year (SFY) 2001-2002. The $665,000 appropriation funds the Capital Grant - Low Rent Lease Subsidy Program and will provide rental subsidies for approximately 204 low to moderate income individuals. Article VII Proposals The Executive proposes to sweep $50 million from HFA to the General Fund. |
New York State Assembly [Welcome] [Reports] |