In her State of the State address this week, Governor Kathy Hochul shared her budget priorities, reflecting a much more modest approach to housing following a final FY25 budget that included a package of policy changes to spur housing supply across the state. New York Housing Conference views this announcement as complimentary to last year’s […]
The City Council approved the City of Yes for Housing Opportunity with modifications, following approval by the land use committees, marking a major milestone for the City of Yes. The package passed by the Council committees advances a very strong set of zoning reforms that will deliver 80,000 units of housing over 15 years spread […]
New York Housing Conference released a new brief that evaluates how City of Yes for Housing Opportunity will create affordability for NYC renters and homeowners and examined how the proposals can be expected to work across NYC and with other tax and housing programs. Given the scale of the crisis, NYHC acknowledges the importance of […]
New York Housing Conference worked with Congressman Ritchie Torres (D-15) to introduce the Accelerated Supply of Affordable Production [ASAP] Housing Act (H.R. 9856). The ASAP Housing Act would exempt affordable housing from counting towards federal limits on state volume cap issuance for tax-exempt private activity bonds for ten years. The volume cap artificially limits how […]
On Friday, Democratic presidential candidate Vice President Kamala Harris announced the framework of her economic agenda and called for the construction of 3 million new homes in the next four years. The announcement included proposals to support renters, new homeowners and increase housing supply. The proposals, many of which are an expansion of efforts by […]
NYHC Director of Policy and Operations Brendan Cheney testified at the Queens Borough President’s public hearing on the City of Yes for Housing Opportunity, sharing the need for more housing to address our housing crisis and history of housing discrimination. Our NYC Housing Tracker data shows that housing production is not shared equitably across the […]
This week Senator Kirsten Gillibrand and Majority Leader Chuck Schumer successfully secured language for a report on property insurance in the Senate mark-ups of both the Financial Services and General Government (FSGG) and Transportation, Housing and Urban Development (THUD) appropriations bills. The language directs the Federal Insurance Office, in partnership with HUD, to conduct research […]
Yesterday a procedural vote to consider the Tax Relief for American Workers Act (H.R. 7024) in the U.S. Senate failed. The tax bill, which passed overwhelmingly in the House in January 357 to 70 would have restored the 12.5% increase to 9% low-income housing tax credit (LIHTC) allocations for 2023-2025 and decreased the private activity […]
Mayor Adams announced HPD’s affordable housing production for city fiscal year 2024 this week, with some categories having the highest production on record. Adams announced that HPD financed 25,266 units of affordable housing in fiscal year 2024 (HPD counts affordable housing when it closes on financing or when the developer applies for 421a). This includes […]
New York Housing Conference and Open Plans hosted the webinar Parking Mandates Explained. Eliminating parking mandates is an important provision in the City of Yes for Housing Opportunity. The webinar explained parking mandates, their history and use in NYC, how they impact affordable housing development and the proposal to remove mandates in the City of […]