The Real Deal New York

Cuomo to propose $100M in affordable housing spending

January 05, 2014 03:00PM

 Governor Andrew Cuomo will propose a total of $116 million in new spending on affordable housing and jobs programs in his State of the State address the week.

The proposal calls for $100 million in federal Hurricane Sandy recovery funds to be used to create 3,000 new units of affordable housing over the next two years in areas hit hardest by the storm, according to the New York Daily News.

The governor is also expected to call for an additional $16 million to be spent on the NY Youth Works program over the next four years. The program provides tax credits to companies that hire inner-city youths, which the Cuomo administration hopes will create some 20,000 jobs.

“Gov. Cuomo is expanding progressive programs that have worked,” an administration official said. “We are making New York’s cities more affordable and protecting unemployed youth from falling into the cycle of poverty by finding them jobs.” [NYDN]Christopher Cameron