Cuomo Announces $20 Billion Housing Project
New York Governor Andrew Cuomo has announced what he called the biggest investment in housing the state has ever seen.
Cuomo said New York's decades-old infrastructure is due for a repair."We are living off the legacy of not our parents, but our grandparents," Cuomo said. "And now, we're paying the price, because the infrastructure is no longer competitive."
That is why the state is investing $20 billion in housing. Cuomo said the program will construct and preserve more than 100,000 units of affordable housing, and 6,000 units of supportive housing over the next five years. He said it is a part of the effort to combat rising homelessness throughout the state.
"That we should have more homeless people in this city than ever before is a shame and a scandal,"Cuomo said.
Cuomo signed a bill providing the first $2.5 billion to the plan, with the rest to come over the next few years.