Cuomo Moves Toward Firming Up $2 Billion Housing Plan

After months of prodding by housing advocates, Gov. Andrew Cuomo announced on Wednesday that he had ordered the signing of an agreement on how to spend a $2 billion downpayment on his five-year, $20 billion initiative to create 100,000 units of affordable housing.

The governor’s action on the so-called memorandum of understanding, or MOU, still requires approval by the Assembly and Senate. When the legislative session ended in June, housing groups pushed for the two sides of the Capitol to come together on a deal, and that still hasn’t happened.

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