The City Council is pushing for an additional $3.66 billion for affordable housing over the next five years, building on the $10.5 billion the mayor earmarked in his executive budget in April.
But the mayor's executive budget unveiled in April failed to include that $732 million-per-year bump, disappointing councilmembers who sought additional funding for housing development.
[We] can't recognize the city's in a housing crisis and not invest our resources accordingly to resolve [it], neither can we expect our economy to grow. New Yorkers that make that economy don't have the stability and affordable home to come back to when the day is done.
HPD's five-year capital plan totals $10.5 billion in the mayor's executive budget, with an increase attributed to federal grant funds, not new mayoral investments.
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