NYHC Testimony to the NYC Council Committee on Housing and Buildings Hearing

New York Housing Conference submits testimony to the NYC Council Committee on Housing and Buildings Hearing on FY2026 Preliminary Budget. Testimony focus on three issues. 

First, we are concerned about a significant decrease in housing capital funding after FY 2026 proposed in the preliminary budget and recommend continuing a baseline funding level of $4 billion in housing capital. In the Ten-Year Capital Plan, HPD will produce 15,750 fewer units of new construction affordable housing. Over that same time, NYCHA will have 72% less city funding to repair traditional public housing, and PACT and the Public Housing Preservation Trust are at risk with zero capital funds allocated after FY2026.  

Second, we released a policy brief highlighting the problems with the city’s Housing Connect lottery process for re-rentals, which are causing financial strain on affordable housing providers. We understand that HPD is prepared to adopt changes to their marketing requirements, but we want to reiterate the need for significant reform. 

Finally, we are extremely concerned about the impacts of federal housing policy and funding and share details of early action from DOGE and HUD impacting housing.

Full testimony is linked here.