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Unions call for affordable housing investments

Posted 5/31/24

A coalition of community groups and labor unions renewed its push on Thursday to get the city to invest $2.5 billion in two Department of Housing Preservation and Development programs in lawmakers' latest effort to expand housing for working-class New Yorkers. The funding would be a windfall for HPD’s Open Door and Neighborhood Pillars programs and is supported by six unions, including District Council 37, the New York State Nurses Association and the United Federation of Teachers.

The Neighborhood Pillars program awards low-interest loans and tax exemptions to nonprofits to purchase and rehabilitate homes with the goal of allowing community groups and nonprofits to compete in the private real estate market. The program requires that the nonprofit purchasing the property set aside 30 percent of the units as permanently affordable housing and 20 percent of the units for the homeless.

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