Mayor Eric Adams unveiled his Fiscal Year 2026 proposal, emphasizing significant investments in public housing, supportive apartment construction, and tenant protections. He aims to create, connect, and keep New Yorkers in homes while promoting affordable housing. The budget includes a $350 million investment to renovate NYCHA units through the NYCHA Preservation Trust and Permanent Affordability Commitment Together (PACT). Additionally, funding will be realigned to support the construction and preservation of supportive housing units, ensuring a comprehensive approach to New York City's housing needs as he campaigns for re-election.
During an April 28 news conference in Bed Stuy, Adams said that his administration has placed a focus on "creating more homes, connecting more New Yorkers to homes...and keeping more New Yorkers in the homes they already have."
The mayor's announcement includes putting an additional $350 million into two programs designed to convert New York City Housing Authority (NYCHA) units from federal Section 9 to Section 8 to make renovations easier.
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