Posted on June 21, 2016 by Christian Brazil Bautista in Real Estate Weekly Real Estate Weekly, By Christian Brazil Bautista State officials approved $150 million in funding for affordable and supportive housing, a fraction of the $2 billion in the state budget that Gov. Cuomo promised for such projects. At the end of the legislative session over the weekend, Cuomo, along with Assembly Speaker Carl Heastie and Senate Majority Leader John Flanagan, failed to disburse the amount that was agreed upon last March. The $2 billion represents the first tranche of $20 billion in funding that the Governor announced in January. The full amount was earmarked for preserving or creating 100,000 units of affordable housing over the next five years. It was also meant to fund 20,000 supportive housing units for the homeless over the next 15 years.
