NEW YORK (CBSNewYork/AP) — New York City said a program that helps keep thousands of homeless off the streets will not be able to accept new applicants due to state budget cuts.

The Advantage rental subsidy program allows people who find stable jobs to leave homeless shelters by providing housing subsidies for up to two years.

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Seth Diamond, the commissioner of homeless services, says the city would have to build 70 new shelters if the program is eliminated.

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Diamond says the program will not be able to accept new applicants after Monday. It will not affect people already in the program.

According to The New York Times, the governor’s spokesman said in a statement that regardless of the anticipated cuts, the city has the funds to continue the program.

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