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Governor Cuomo Launches Landmark $20 Billion Plan to Combat Homelessness and Create Affordable Housing For All New Yorkers
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On May 18th, Governor Cuomo signed legislation delivering $2.5 billion to advance the construction and preservation of more than 110,000 units of affordable and 6,000 units of supportive housing over the next five years.
The plan includes approximately 12,000 units created through the newly enacted "Affordable New York" program formerly known as 421-a. The program gives developers a city property tax break in return for building affordable rental units and providing fair wages to construction workers.
This historic investment offers a transformational blueprint to address New York State's diversity of housing needs, strengthen protections for tenants, and create new opportunities for low-to-moderate income households.
Commissioner Visnauskas said, "This groundbreaking legislation builds on Governor Cuomo's unwavering commitment to provide New York families with the opportunity for a brighter future that begins with a safe, affordable place to live. This $2.5 billion, multi-year plan will allow us to create and preserve more than 100,000 homes for people who need them, and breathe new life into communities throughout New York."
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Governor Cuomo Announces Funding for Homeowners, Local Municipalities and Small Businesses Impacted by Recent Flooding Along Lake Ontario
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Governor Cuomo
announced $7 million in state funding to assist homeowners that have been impacted by flooding along Lake Ontario and the St. Lawrence River.
The new investment program will provide up to $40,000 for homeowners to support interior and exterior repairs to structural damage caused by flooding, as well as the repair or replacement of permanent fixtures.
The funding will be provided through HCR and will be available to eligible municipalities and not-for-profit housing organizations seeking to assist homeowners. Homeowners will ultimately apply for assistance via their municipality or appropriate not-for-profit provider.
This funding is in addition to the $10 million in state funding
announced for eligible municipalities to repair roads, floodwalls and public water infrastructure, also administered through HCR.
These programs are open to eligible applicants in Cayuga, Jefferson, Monroe, Niagara, Orleans, Oswego, St. Lawrence, and Wayne counties, and will provide grants for flood-related costs that have not or will not be compensated by any other federal, state or local recovery program or any third-party payers.
Applications for homeowner assistance and infrastructure aid to local municipalities are available
on our website.
Governor Cuomo has also announced up to $5 million in grants
for small businesses with physical damage or loss as a result of flooding. These funds are available through
Empire State Development.
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Graduate to Homeownership Program Launches in Geneva
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The pilot program, which will be available in eight Upstate cities participating in Governor Cuomo's Downtown Revitalization Initiative, offers low-interest rate mortgages, a down payment assistance loan with no additional fees, and a homebuyer education course.
This initiative was designed to encourage homeownership for recent graduates and to help Upstate communities attract and retain talented young people.
The program is administered by HCR's State of New York Mortgage Agency (SONYMA). For more information on this program and other SONYMA products, visit
sonyma.org.
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Norwood Terrace provides 115 apartments for homeless and low-income New Yorkers.
The development, operated by Concern for Independent Living, includes 58 homes for formerly homeless individuals with mental illness. Support services will be provided on-site, helping residents to live healthy and independent lives.
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The $20 million scattered site development in the Hamilton Hill neighborhood of Schenectady will consist of eight buildings, including two historic schools identified by the community as resources worth saving.
Hillside View Apartments will bring 58 homes to families and seniors with a range of incomes.
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The vacant public school will be transformed into 30
affordable apartments for seniors, office space, community space, a recreational gymnasium, and an auditorium for a local theater company.
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Crerand Commons offers 33 affordable homes for working families in close proximity to public transportation, child care, and employment opportunities.
The complex also complements Finger Lakes Forward, Governor Cuomo's successful blueprint for regional economic development.
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The Fountains, a mixed-use development on formerly vacant land, will ultimately include 1,169 apartments, retail, commercial, and community space.
The first three phases of this multi-phased development will create a total of 397 affordable and supportive apartments in Brooklyn for income-eligible residents and those with intellectual or developmental disabilities.
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The New York City Housing Authority's (NYCHA) Howard Avenue Homes received state-of-the-art upgrades through HCR's Weatherization Assistance Program (WAP). These upgrades will improve quality of life for residents by providing brighter lighting, better air quality, and more consistent heating.
The second development to benefit from this program will be Belmont-Sutter Houses in Brooklyn, which will receive WAP upgrades this summer from Sunset Park Redevelopment Committee.
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In the Spotlight: Downtown Revitalization Initiative
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Governor Cuomo's $100 million Downtown Revitalization Initiative (DRI) aims to transform local neighborhoods across the state into vibrant communities where the next generation of New Yorkers will want to live, work and raise a family.
In 2016, ten urban centers were selected for the first round of DRI funding: Glens Falls, Oswego, Geneva, Westbury, Middletown, Oneonta, Jamaica, Plattsburgh, Elmira, and Jamestown.
Along with our agency partners at the Department of State and Empire State Development, HCR staff worked with the Local Planning Committees from each of the ten DRI communities to create strategic investment plans. These plans identified catalytic downtown projects consistent with the initiative’s goals, including economic development and investment in transportation, housing and community infrastructure. Projects selected for funding are being announced this month.
Governor Cuomo has launched a second round of DRI funding for ten additional downtown neighborhoods. For more information on how to apply, visit regionalcouncils.ny.gov.
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HCR’s #SONYMA provides competitive mortgages for first-time homebuyers! Call 1-800-382-HOME (4663) or visit sonyma.org
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Andrew M. Cuomo
, Governor I
RuthAnne Visnauskas
, Commissioner and CEO
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NYS Homes and Community Renewal |
www.nyshcr.org
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