Gov. Spitzer OK's $106M for Affordable Housing

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NEW YORK CITY-Gov. Eliot Spitzer approved more than $106 million in funding to increase the availability of affordable housing statewide. These grants, which will be administered by the Housing Trust Fund Corp. and the New York State Division of Housing & Community Renewal, will be used to leverage more than $420 million in additional federal, local and private funding.

“Creating affordable housing is essential to our efforts to rebuild neighborhoods and create jobs,” Spitzer says in a statement. “Ensuring that reasonably priced units are available to working families is critical to spur economic growth and stem the out-migration of New Yorkers to other areas of the country. This funding is the latest step in a continued effort to improve both the economic climate and the quality of life for all New Yorkers.”