Mayor Eric Adams has unveiled new investments in New York City's housing sector as part of his Fiscal Year 2026 Executive Budget. This proposal, claiming to be the 'best budget ever,' includes millions in funding for improving NYCHA units, building supportive housing, and enhancing tenant protections. During a press conference in Brooklyn, Adams highlighted the administration's ongoing commitment to creating and retaining housing for New Yorkers, emphasizing the importance of the new initiatives, which include $350 million aimed at updating existing public housing through program conversions.
Adams emphasized the importance of creating, connecting, and keeping New Yorkers in homes, stating that the Fiscal Year 2026 Executive Budget reflects his administration's success in housing initiatives.
The $350 million investment will facilitate the conversion of NYCHA units from federal Section 9 to Section 8, making renovations and upgrades easier and more accessible.
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