Assemblyman Thiele: Assembly Budget Resolution Includes a Bold Plan for Affordable Housing In New York State
Assemblyman Fred W. Thiele, Jr. (D-Sag Harbor), Chair of the Assembly Local Governments Committee, announced that the Assembly Budget Resolution released on Tuesday includes his plan to modify Governor Hochul’s Housing Compact by eliminating mandates and zoning overrides in favor of $500 million in new state aid as an incentive to create new housing opportunities. The Assembly will vote on Thursday to approve its budget proposal.
The Assembly modifies the original “Housing Compact” by removing the State mandates and overrides of local zoning and provides:
- $500 million in total funding for cities, towns, and villages.
- Municipalities would receive an initial 30% payment for submitting a housing growth plan and providing information about housing for their jurisdictions.
- Municipalities would receive a second 70% payment if they meet housing growth targets during the three-year target period beginning January 1, 2024, with a 24-month grace period for permitted new residential dwelling units to receive certificates of occupancy.
- Housing growth targets will be set at 3% for downstate communities and 1% for all others, consistent with the Governor’s original proposal.
- Achievement of housing growth targets will be calculated with special consideration for affordability, rehabilitation of abandoned buildings, transit-oriented development, and zoning changes.
“Local governments know their communities the best.” Assemblyman Thiele said. “I commend the Governor for recognizing the lack of affordable housing and setting goals to address the crisis. However, we must work collaboratively with our local government partners. Incentives, not mandates, are the best approach to make housing more attainable. For this reason, I am working with my colleagues, our local governments and the Governor to find the consensus and flexibility that is required to implement a reasonable plan and address the current housing crisis on Long Island and across New York.”
To make housing more affordable for New Yorkers, the Assembly Majority is also allocating $1.5 billion to assist tenants and homeowners, including:
- $500 million for Foundation For Futures
- $385 million for Rental Arrears Assistance
- $250 million for Housing Voucher Assistance Program
- $250 million for Homeownership Funds
- $100 million for First Time Homeowner Assistance