Last week, Mayor Eric Adams released his FY 2026 Executive budget. He announced two new housing funding proposals: $350 million for NYCHA’s PACT and Trust programs and $46 million in expense funding for supportive housing to create and preserve 5,850 supportive, congregate housing units as part of the NY 15 / 15 program. However, as we’ll show, the NYCHA funding is not all new money.
The expense budget for HPD is $1.6 billion in FY 2026. More than 55 percent of HPD’s expense funding is from the federal government, while roughly 40 percent is city funding.
The changes to HPD’s expense budget since the preliminary budget include savings in the asylum seeker program – $18.4 million in FY 2025 and $50.8 million in FY 2026 – and the additional operating funding for supportive housing – $2.6 million in FY 2027, $14.7 million in FY 2028 and $29.3 million in FY 2029.
NYHC continues to track HPD staffing, which declined dramatically during and after the pandemic but has since largely recovered. HPD headcount was 2,383 in March, a net loss of headcount of 15 since January and 22 less than December 2019 before the pandemic.
The housing capital budget over the ten-year capital commitment plan increased by $189 million compared to the preliminary budget in January, growing to $24.7 billion, up from $24.5 billion. The increase includes the additional $350 million for NYCHA preservation (PACT and Trust, which passes through HPD) in FY 2027, and an increase of direct NYCHA capital funding of $200 million in FY 2026 offset by a $350 million total cut to NYCHA capital in FYs 2032-2035.
There are other smaller changes within program areas ($2.4 million increase to new construction, $2.5 million decrease to preservation, $2 million increase to occupied in-rem housing, $6 million increase to special needs housing, $12 million increase to other housing support). We remain concerned about the the lack of funding for NYCHA PACT and the Trust beyond FY2027 and the significant decrease in housing captail funding after FY 2026, which decreases from $4.5 billion to $2.7 billion FY 2027 and a little more than $2 billion in the following years.
