Newsroom

Exempting Housing from Private Activity Bond Volume Cap to Expand Affordable Housing Supply

While tax-exempt Private Activity Bonds (PABs) are one of New York State’s primary financial tools to build and preserve affordable housing, a federal limit on those bonds is also a significant barrier to expanding its overall affordable housing supply. By reforming the system to exempt affordable housing from the volume cap, New York could build […] Read More

Mayor Adams Executive Budget Adds $5B Over 10 Years – Far Less Than Promised

Mayor Eric Adams increased capital funding for housing by $5 billion over ten years in his fiscal year 2023 executive budget. While this does represent historic funding for housing, this increase is less than the Mayor promised and less than is needed. This new funding will bring total housing capital spending up to roughly $2.5 […] Read More

Hochul’s New $25B Housing Plan In Enacted Budget!

Governor Hochul and the Legislature reached an agreement last week on the FY2023 Budget, representing $220B in spending. We are pleased that the budget includes a new $25B, 5-year statewide affordable housing plan, some funding for NYCHA, and much-needed aid to renters still facing the financial instability brought by the Covid-19 pandemic. The state’s new […] Read More

City Council Calls for $4B for Affordable Housing Capital

In their FY 2023 Budget Response the City Council called on Mayor Eric Adams to honor his campaign promise to allocate $4 billion for affordable housing capital per year, including $2.5 billion for HPD and $1.5 billion for NYCHA. The Council’s proposal is worth reading in full: “Mayor Adams signed a campaign pledge to commit $4 billion […] Read More

President Biden Requests $72B for HUD in FY23 Budget Proposal

President Biden released his FY2023 Budget Proposal requesting $71.9 billion for the Department of Housing and Urban Development (HUD), about $6.2 billion more than what was enacted in the FY2022 spending bill. The administration seeks significant increases in funding to expand rental assistance and increase affordable housing supply and opportunity for homeownership. However, it also proposes funding levels for some […] Read More

Rachel Fee Op-Ed Supporting the state Housing Access Voucher Program

New York Housing Conference executive director Rachel Fee wrote an Op-Ed in LoHud calling on the state to pass and fund the Housing Access Voucher Program. The rental assistance program, modeled after Section 8 where tenants pay no more than 30 percent of their income on rent and the government pays the difference, is supported […] Read More

Major Staffing Shortage Affecting City Housing

Mayor Eric Adams has inherited a staffing crisis across many agencies but if he does not act quickly it will slow down housing production and other housing-related services. The Mayor must get creative and allow agencies to hire up quickly. Make no mistake, the staffing shortage is inefficient and hurting the government. While there may […] Read More

NYHC Co-Leads Sign-On Letters Supporting Ending FAR Cap and Hotel Conversions

In two letters sent to state legislative leadership on Monday, March 7th, the New York Housing Conference led calls for the support of two policies that will create vital housing opportunities in New York City. The first letter asks for the inclusion of a proposal to lift the residential FAR Cap in the State’s Multiple Dwelling […] Read More

NYHC Testifies on Evictions and Need for Rental Assistance

The New York Housing Conference submitted testimony this week informing the public about the risk of evictions due to the pandemic and recession and the need for additional rental assistance. We testified to the City Council Committee on Housing and Buildings and the Committee on General Welfare. In our testimony, we talked about the need […] Read More