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.
This item is available in full to subscribers.
We have recently launched a new and improved website. To continue reading, you will need to either log into your subscriber account, or purchase a new subscription.
If you have an active digital subscription, then you already have an account here. Just reset your password, if you've not yet logged in to your account on this new site.
If you are a current print-only subscriber, and want access to our website,click here to view your options for changing you subscription level.
Otherwise, click here to view your options for subscribing.
Please log in to continue |
