Categories: Funding, New York State
09.15.2016
Releases approximately $2 billion in funding for the creation of more than 100,000 units of affordable and supportive housing over the next five years.
Yesterday, Governor Cuomo directed the New York State Division of the Budget to execute a memorandum of understanding (MOU) to release approximately $2 billion in funding for the creation of more than 100,000 units of affordable and supportive housing over the next five years, including 6,000 units of supportive housing. It now is before the Legislature for their review.
In response to this action, Laura Mascuch, Executive Director of the Supportive Housing Network of New York, released the following statement:
“The Supportive Housing Network of New York strongly applauds the Governor for issuing a Memorandum of Understanding that will support the creation of 6,000 units of supportive housing over the next 5 years, as the first installment of his 20,000 unit/15 year commitment. With 80,000 families and individuals homeless in our State, we commend the Governor for prioritizing this issue. We look forward to the Governor and Legislative leaders negotiating a final MOU that fully supports the development of this desperately needed housing for New York’s most vulnerable.”
The Network and our partners are urging the Governor and the Legislature to expedite the process and come to an agreement that supports the creation of 6,000 units of supportive housing over the next five years.
Media coverage here.
Please see the Governor’s press release:
For Immediate Release: 9/14/2016
GOVERNOR ANDREW M. CUOMO
State of New York | Executive Chamber
Andrew M. Cuomo | Governor
GOVERNOR CUOMO DIRECTS NEW YORK STATE DIVISION OF BUDGET TO SIGN $2 BILLION HOMELESSNESS AND HOUSING MEMORANDUM OF UNDERSTANDING
Governor Andrew M. Cuomo today directed Robert Mujica, Director of the New York State Division of the Budget, to execute a memorandum of understanding to release $2 billion in funding to advance the creation of more than 100,000 units of affordable and supportive housing over the next five years. The executed agreement is now before the New York State Senate and Assembly for action.
“This agreement marks a major step forward in the state’s comprehensive efforts to combat the homelessness and affordable housing crisis in New York,” Governor Cuomo said. “By advancing the state’s largest commitment to affordable and supportive housing, hundreds of thousands of New Yorkers will be able to find a safe place to call home. I call on the State Legislature to join me in this effort, and sign the Memorandum of Understanding so we can fully realize the transformational benefits this historic investment will bring for New York’s most vulnerable residents.”
In his 2016 State of the State address, Governor Cuomo put forward a sweeping, $20 billion blueprint to combat homelessness and expand access to affordable housing in New York State. Approval of the MOU by the New York State Senate and Assembly will allow for the aggressive implementation of the Governor’s 5-year plan. The comprehensive initiative includes $10 billion dedicated to creating and preserving 100,000 units of affordable housing, and $10 billion dedicated to tackling homelessness by developing 6,000 new permanent supportive housing units and 1,000 emergency beds, and offering an expanded array of homelessness services.
The MOU, signed today, marks a major step forward in the state’s overall goal to ensure all New Yorkers have a safe, affordable place to call home. Agreement by all parties to the MOU will release in full $2 billion in funding appropriated in the 2016-17 State Budget toward the creation of new affordable and supportive housing units in New York.
Combined with the previously approved MOU, the following resources are available:
New Construction: Up to $1.4 billion to support the creation of new units across a spectrum of populations and geographic areas, including significant new investments to create senior housing, middle-income housing, and supportive housing across the state.
Preservation: Up to $565 million toward extending the affordability of existing units statewide and creating a large-scale financing program that specifically supports assets like public housing authorities in upstate communities. Up to $100 million in funding will be designated for state-approved NYCHA related projects and improvements. This is in addition to the $100 million in current state funding for NYCHA.
Homeownership: Up to $54 million to provide opportunities for new and continued homeownership throughout the state, including new and manufactured home programs and efforts to continue stabilizing communities hit by the foreclosure crisis.
Neighborhood Revitalization: Up to $10 million toward continued investments in our downtowns and villages throughout the state.