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29
MAR
2013

Support for Affordable Housing NYS Budget

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The NYS Budget was negotiated by the Governor, the Senate and the Assembly and strong support for Rural and Neighborhood Preservation Programs  have been demonstrated by funding the existing delivery system.  A new Rural and Urban Communities Fund of almost $4.9 million has been established  for mixed use  commercial and housing construction and preservation and appears to support small projects with a rural set aside.

The legislature restored funding to the successful Rural Area Revitalization Program and its counterpart, Urban Initiatives.  The programs were allocated $1.5 million and $2 million respectively. Other LPA programs have been funded at levels proposed by the Governor: Housing Trust Fund received $32.2 million, the Affordable Housing Corporation $25 million, Homes for Working Families $7 million, Access to Home $1 million, RESTORE, four hundred thousand,  NY Main Street, $2.2 million

Governor Cuomo’s budget included full funding for the Rural Rental Assistance program and the entire $20.4 million was included in the 2013 budget.  The final agreement allows for the funding of all current RRAP contracts and makes provision for one year extensions to those contracts that have reached the 25 year maximum contract periodRural Rental Assistance has been funded at levels

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