New York State Passes State Budget with $2.5 Billion for Housing

The New York State Legislature recently passed a FY 18 budget that includes $2.5 billion for a 5-year statewide housing plan. The $2.5 billion funds a wide variety of programs, including $1 billion for 6,000 supportive housing units, $125 million for senior housing and $200 million for the New York City Housing Authority. Last year, $2 billion was promised in the state budget for housing, but the funds were made subject to a Memorandum of Understanding that was never signed. Enterprise worked in coalition with advocacy partners for over a year to get these funds released. In a statement, the Affordable Housing Stakeholder Coalition, of which Enterprise is a member, recognized this historic commitment to supporting affordable housing in the state.

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