NYHC sent a letter to Mayor Bill de Blasio and city housing leaders Monday opposing the cuts to HPD’s capital budget. The letter was co-signed by 163 organizations and 14 elected officials.
Mayor de Blasio’s executive budget proposes to cut the current year and next year’s HPD capital budget by 40 percent – $581 million in 2020 and $457 million in 2021, dramatically reducing the city’s affordable housing plan.
These cuts are shortsighted and the mayor should reverse them. The savings to the city from the cuts to the capital budget will not be realized for several years. Instead, spending the money now will create jobs and housing desperately needed during this health and economic crisis.
You can see the letter here.