The Real Deal New York

NYC has gotten more than enough housing aid: Cuomo

Governor threatening to withhold $200M city officials have requested

November 24, 2015 10:09AM

From left: Bill de Blasio and Andrew Cuomo

From left: Bill de Blasio and Andrew Cuomo

Gov. Andrew Cuomo took the latest in a series of tough stances towards Mayor Bill de Blasio’s administration, threatening to withhold housing aid requested by administration officials, saying the city has had plenty already.

The city has already received $300 million in federal tax-exempt bonds, which the state government administers. The de Blasio administration has requested a further $200 million.

Cuomo’s comments come in the midst of heated negotiations over the issue between the two sides.

“The city has gotten the $280 million-plus. They are significantly higher than as prescribed in the law,” Cuomo said at a press conference, according to Politico.

Cuomo and de Blasio have tangled repeatedly since de Blasio took office, including over reforms to the 421a Tax Abatement.

The de Blasio administration requested the money to fund a series of low-income housing projects this year. The city had planned to offer a bond sale in early December, before a widely-anticipated hike in federal interest rates. [Politico]  – Ariel Stulberg