Speaker Carl Heastie and Housing Committee Chair Steven Cymbrowitz today announced that the Enacted State Fiscal Year (SFY) 2022-23 Budget invests in affordable housing programs and keeps New Yorkers that struggled financially during the pandemic in their homes.
“Every New Yorker deserves a safe, affordable place to call home, and the Assembly Majority is committed to making that a reality,” Speaker Heastie said. “This budget makes critical investments in programs to provide rental and landlord relief, and give more families a path to homeownership.”
“This year’s budget will make necessary investments in affordable housing across the state and continue to help families that were financially impacted by the pandemic,” Assemblymember Cymbrowitz said. “We’re pleased that the spending plan includes much-needed funding for tenant and landlord rental assistance, a five year affordable housing capital plan, and for capital repairs at NYCHA. We will continue to work to give every New Yorker a path to safe, affordable housing.”
New Yorkers are still feeling the financial strain of the COVID-19 pandemic, and many were unable to pay their rent or their mortgage as a result. This budget makes critical investments in rent and homeownership relief to help New Yorkers stay in their homes, including:
- $1.1 billion in funding for the Emergency Rental Assistance Program (ERAP) and the Landlord Rental Assistance Program (LRAP), including $150 million in federal funding;
- $250 million for a utility arrears program, to be administered by the Department of Public Service; and
- An additional $15 million for the Homeowner Protection Program (HOPP) for a total of $35 million.
The Enacted SFY22-23 Budget includes a five year housing plan with $4.5 billion in capital funding to support the construction or rehabilitation of 100,000 units of affordable housing. In addition to the construction and rehabilitation of units, the plan would create programs to encourage homeownership among moderate and low income families, and support affordable housing for seniors.
The enacted budget also funds critical affordable housing programs, including:
- $350 million for the New York City Housing Authority (NYCHA);
- $50 million for public housing outside of New York City;
- $100 million for additional Mitchell-Lama repairs and homeownership programs;
- $100 million in funding for the Housing Our Neighbors with Dignity (HONDA) Program;
- $7 million for the construction of rental housing with under 20 units; and
- $2 million in additional funding for the HOPE/RESTORE program for a total of $3.4 million to help keep seniors in their homes.
The budget also includes $50 million for land banks and $41 million in federal funding for flooding victims of Hurricane Ida.