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Senator Schumer Throws Support Behind LIHTC Expansion and Income Averaging
I am thrilled to report real progress in one of our top policy priorities- Low Income Housing Tax Credit (LIHTC) Income Averaging . Today, I stood with U.S. Senators Chuck Schumer and Maria Cantwell as they announced support for reforms to the LIHTC program that would both expand the credit and introduce Income Averaging. The […] Read More -
State Housing Plan Comes into Focus at NYHC Symposium
NYS Homes and Community Renewal Commissioner Jamie Rubin announced that the agency is getting closer to finalizing the details of the state’s housing plan. This is some relief to an affordable housing community concerned about the lingering uncertainty. “There are enough barriers to building affordable housing,” said Rachel Fee, head of the New York Housing […] Read More -
Update on LIHTC Income Averaging
Senator Maria Cantwell (D-WA) announced last week that she intends to introduce reforms to the Low Income Housing Tax Credit and seek a 50% increase in this tax expenditure program to create more affordable rental housing opportunities across the U.S. We expect Income Averaging of the tax credit, one of NYHC’s top legislative priorities, to […] Read More -
NYHC Issues Enacted State Housing Budget Analysis
On Friday, Governor Cuomo and leaders of the NY State Legislature announced a budget deal with significant new funding for affordable housing. New York Housing Conference thanks Governor Cuomo and members of the NY State Legislature for $2 billion in new funding for a comprehensive statewide housing plan to combat housing affordability and homelessness. With big […] Read More -
Builders of Affordable Housing Applaud Historic Housing Reforms
“With the passage of sweeping zoning reforms which will mandate affordable housing in upzonings and make more efficient use of each available site, the de Blasio administration has made huge strides towards achieving their goal of combatting the affordable housing crisis in New York City. Layer on the significant capital plan and we are well […] Read More -
One-House Bills Fund New Statewide Affordable Housing Plan
On March 15th, one-house budget bills were passed by the Assembly and Senate as part of the NY State FY 2017 budget process in which lawmakers are expected to enact a budget by April 1. NYHC applauds both houses for budgets that will significantly increase investment to affordable housing and for supporting Governor Cuomo’s budget […] Read More -
Update on Mayor de Blasio’s Zoning Proposals
This week the City Council announced a deal that paves the way for the two proposals known as Mandatory Inclusionary Housing (MIH) and Zoning for Quality and Affordability (ZQA) to be passed at a Council vote later this week. In a deal that responds to community calls for deeper affordability and tweaks zoning regulations to […] Read More -
The City Council Can Still Save NYC Millions in 20FT
ZQA can unlock underutilized 202 parking lots turning baron asphalt into affordable homes for New York City’s low-income seniors. Only 20 ft stands in the way of turning the Bronx site in the photo below into affordable senior housing. The City Council should make one final change to ZQA to fix restrictive rear and side […] Read More -
Proposal for NEW Statewide Senior Affordable Housing Program
NYHC is advocating for a NEW Statewide Senior Housing Affordable Housing Program. In collaboration with many senior and affordable housing organizations, NYHC is seeking $250 million over 5 years to fund 500 new senior housing units annually. Demand for senior housing is growing: By 2030, NYC will see a 47% increase in senior population. The […] Read More -
President’s FY17 Budget Provides Support to End Homelessness
On February 9th, President Barack Obama released his budget request for FY 2017. The President called for more than $48 Billion in 2017 spending for the U.S. Department of Housing and Urban Development (HUD), an increase of about $2B over FY 2016. Much of the proposed increase in spending would be devoted to a much […] Read More