Impasse Over Affordable Housing Funding Continues Post-Session
The State Legislature adjourned last Sat. without agreement on a Memorandum of Understanding (MOU) that would unlock nearly $2B in funding for a variety of affordable housing projects, including construction and rehabilitation of senior housing. The funding was approved as part of the 2016-2017 state budget, but cannot be released until an MOU is signed by Governor Cuomo and legislative leaders.
Although there is no deadline for the signing of an MOU, advocates for a range of affordable housing constituencies now fear that negotiation of an agreement will be a significantly heavier lift. A coalition of organizations that includes LeadingAge and AARP have called for the parties to reconvene immediately to continue work toward a resolution. This coalition of housing organizations released a statement Sat., hours after the Senate and Assembly adjourned for the session, at 4 a.m. and 5 a.m., respectively. Parts of the statement were picked up by the New York Times in its end-of-session review printed Sun.
LeadingAge New York has been working with a coaltion of senior housing developers and operators to convince NYS Homes and Community Renewal, and legislative leaders, about the need for a new Senior Housing Program at HCR that would link capital, rental assistance, and supportive service dollars. It is hoped and expected that the MOU will include significant new resources for senior housing, possibly in the form of a new program.
Contact: John Broderick, email@example.com, 518-867-8835