search

The Real Deal Logo

Trending

Billionaire hedge funder Larry Robbins makes South Florida moveBillionaire hedge funder Larry Robbins makes South Florida moveHousing deal finally passes; here are the detailsHousing deal finally passes; here are the details“I wouldn’t use it, I would just lock the door”: Landlords pan new rehab law“I wouldn’t use it, I would just lock the door”: Landlords pan new rehab lawHow Hochul played the “good cause eviction” game, and wonHow Hochul played the “good cause eviction” game, and won
New York

NYC has gotten more than enough housing aid: Cuomo

Governor threatening to withhold $200M city officials have requested

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.

Sign Up for the undefined Newsletter

“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