Cuomo Directs Release Of $2 Billion In Funding For Affordable Housing

NEW YORK (CBSNewYork) — New York State Governor Andrew Cuomo has authorized the state Division of Budget to execute a memorandum of understanding that would release $2 billion in funding to combat homelessness.

The money would be used to create more than 100,000 affordable and supportive housing units across the state over the next 5 years. The agreement now faces approval from the Senate and Assembly.

The agreement is an extension of Cuomo’s $20 billion proposal to fight homelessness, formally announced earlier this year as part of his ambitious $145.3 billion  budget proposal.

Cuomo proposed $10 billion to build 100,000 units of affordable housing, and $10 billion for housing for the homeless – including 20,000 units of supportive housing and 1,000 emergency shelter beds.

Cuomo also called for an audit of homeless shelters; those found unsafe would be required to add police protection. Otherwise, Cuomo said, they would be closed or taken over by a receiver.

Other allocations include $565 million to preserve already existing affordable housing units, a $100 million investment in the New York City Housing Authority and $54 million to encourage and extend home ownership in local communities.

Homelessness has been an ongoing issue in New York City. Last year, Mayor Bill de Blasio unveiled a $2.6 billion homeless program, which aims to create 15,000 new housing units for the homeless over the next 15 years, as well as offer social services like as mental and physical health care and substance abuse programs.

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