In your backyard, homeownership is nearly impossible for hard-working, low-to-moderate income families to achieve. Habitat believes now is the time for New York State to adopt policies that not only preserve current homeownership rates but also develop new opportunities for our neighbors to own a piece of our State. As you prepare to release your one house budget, I write today to ask you to support a greater investment in affordable homeownership.
You can support permanently affordable homeownership across the state by taking the following steps:
. Include a budgetary increase of $18M to the Affordable Housing Corporation which will result in a total budget of $44 million
. Include (S1824/ A6277) sponsored by Sen. Bailey and Assemblywoman Walker. Support for this policy will increase the per unit allocation for homeownership projects from $40k per unit to $75k max per unit. It will also require that projects accessing increased funds require long-term affordability restrictions, ensuring long-term public benefit for increased investment.
Unattainable, unaffordable housing should never force any family from their community, their State. As your constituent and fellow New Yorker, I urge you to invest in permanently affordable homeownership opportunities by including these budget items in your one house budget. Investing in and sustaining affordable homeownership opportunities for New York’s low- and moderate-income families is essential in the effort to combat displacement and will build a better, fairer and stronger New York State.
Thank you for your time.