ALBANY, NY (WENY) — While the legislature conducted one of the last budget hearings on housing Wednesday, Gov. Kathy Hochul highlights the urgency of the New York Housing Compact, a plan included in her budget to address New York’s housing crisis.
“People deserve the dignity of a good home. And I want to make sure that they know that we’re not afraid of this,” Hochul said.
Hochul’s housing compact includes $250 million in infrastructure funds and $20 million in planning funds for new housing production statewide. Hochul said planning funds are particularly important for smaller communities who don’t have as many resources.
“My office of housing and community renewal is going to be a partner and I’m going to bring in the people, the resources we need to make this be successful,” Hochul said.
Hochul’s housing compact also sets target growth for every community in the state over the next three years. Hochul emphasized the need for communities to start building.
In the coming weeks, as she heads into budget plan negotiations, Hochul said she is optimistic the housing compact will have bipartisan support from the legislature.
“If you talk to anyone in real estate, even in small communities upstate, people are being priced out of their hometowns. So, I believe that the legislators who listen to their constituents will come back here, and we’ll do the right thing together,” Hochul said.