On October 22nd, Mayor de Blasio announced restoration of nearly half the funds that had been cut from HPD’s capital budget for 2020 and 2021 in June. The $466 million restoration in capital funds will be included in the upcoming preliminary plan for fiscal year 2021. The original $1 billion in cuts constituted 40% of HPD’s capital budget and were estimated to impact development of some 21,000 units of affordable housing and 3000 units of supportive housing. Nearly 50% restoration is hoped to significantly diminish these impacts.
The Network and our members have vociferously advocated against the HPD cuts to the City Council, alongside Councilmembers Gibson, Lander and Cornegy, and in the Daily News alongside fellow advocates NYHC, ANHD, NYSAFAH, CHPC, LiveOn NY, and NYS Council of Churches. We would like to thank the administration for this restoration and all our members and colleagues who helped advocate for full capital funding. See the press release here.