NEW YORK – Following the announcement today from NYC Mayor Bill de Blasio of the restoration of $466 million in cuts to the capital budget for affordable housing, Council Members Brad Lander and Vanessa L. Gibson, chair of the Subcommittee on the Capital Budget, released the following statement:
“We’re glad to hear the good news that the cuts to this year’s affordable housing budget will be restored. Along with affordable housing advocates, we have been calling for this since June. Cuts to the capital budget cost us dearly and harm our chances of an equitable recovery. Restoring the $466 in capital investments in affordable housing is a strong step, and the next should be to accelerate the restoration of last year’s cuts as well. Investments in affordable housing are exactly what we need to create the good jobs and housing we need now, and for the future.”
In June, Council Members Lander and Gibson released a white paper detailing the costs to jobs, housing, and future infrastructure spending posed by the FY 20-21 capital budget cuts.