State Official: ‘Over The Coming Weeks’ We Will Release How $2B For Affordable Housing Will Be Spent
We may soon know how the $2B allocation for affordable housing in the state budget will be spent. The money was earmarked earlier in April but there weren’t any specific details about how it would be divvied up—not the most comforting sign from a legislature with a long, checkered, recent history of corruption.
The state’s housing czar, James Rubin, said yesterday at an affordable housing conference that details of the expenditure would be finalized “over the coming weeks,” Crain's reports.
Affordable housing advocates have said that the delayed disclosure of how the money will be spent only adds a further barrier to getting on with the business of solving the city’s housing woes.
The entire state legislature approved the $2B allocation, but a much smaller number of elected officials are deciding how it will be divided up.
Rubin has said there is no connection between the process of resurrecting the 421-a tax abatement and the release of the allotment of funds for affordable housing. [Crain’s]
