Before the State legislative session concludes tomorrow, both the New York State Housing Finance Agency and the New York City Housing Development Corporation must have their sunset provisions extended and granted additional bonding authority by statute to keep pace with growing preservation and new construction pipelines. See our joint letter with other NY affordable housing organizations urging the Legislature to ensure both A.8320/S.6410 and A.8405/S.6545 bills passage.

A.8320/S.6410 extends the sunset provisions for NYCHDC and the Housing Finance Agency (HFA) and the State of New York Mortgage Agency (SONYMA) within NYSHCR. This bill also grants additional bonding authority to HFA and SONYMA. A.8405/S.6545 does the same for NYCHDC, raising the debt ceiling from $13.5 billion to $14.5 billion.