powered by LeadingAge New York

Hochul’s First State of the State Includes Five-Year Affordable Housing Plan

Governor Kathy Hochul delivered the first State of the State address of her administration on Wed., Jan. 5th, including the promise of a comprehensive five-year spending plan for affordable and supportive housing purposes that supports seniors in the State Fiscal Year (SFY) 2022-23 Executive Budget proposal due next week.

The new $25 billion, five-year Housing Plan would create and preserve 100,0000 affordable homes in both urban and rural communities throughout the state, including a $300 million investment in the new construction and preservation of senior housing and 10,000 units with supportive services for vulnerable and at-risk populations, such as the frail elderly. With the number of older New Yorkers in need continuing to rise, LeadingAge NY supports this significant increase above the concluding five-year spending plan, which offered $125 million for senior housing.

The Governor’s State of the State address indicated that the Plan would further increase funding for several existing programs serving seniors and rural communities and would help to weatherize and electrify more of New York State’s aging housing stock. Accompanying legislative proposals would ease restrictions on converting hotels and offices to residential use, create a statewide “right to counsel” for low-income tenants facing eviction, and increase outreach and intervention resources for the homeless statewide.

LeadingAge NY will continue to monitor and report on the development of the Housing Plan in the SFY 2022-23 Executive Budget proposal and to advocate for the inclusion of an additional $25 million over five years to establish an Affordable Independent Senior Housing Resident Assistance Program to help meet the needs of New York’s low-income older adults.

Contact: Annalyse Komoroske Denio, akomoroskedenio@leadingageny.org, 518-867-8866