New York State To Finance More Than 1,180 Units

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NEW YORK CITY-Gov. Eliot Spitzer revealed a $510-million finance approval for the construction and renovation of 1,182 affordable housing units across the state. The projects and their financing were approved by the boards of the New York State Housing Finance Agency and the New York State Affordable Housing Corp. Counting this approval, agencies have now approved financing to create and preserve 4,739 units of affordable housing in New York State since Jan. 1.

“Establishing a foundation for economic security starts with expanding access to basic necessities such as affordable housing,” says Spitzer in a prepared statement. “Expanding access to affordable housing helps revitalize struggling communities and grow our economy. If people cannot afford to live in New York, than businesses cannot afford to locate here.”