State Proposes $400M Affordable Fund

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NEW YORK CITY-Gov. Eliot Spitzer visited the Rheingold Houses in Bushwick, Brooklyn, on Sunday to highlight steps his administration is taking to increase affordable and supportive housing throughout New York. Spitzer’s $400-million Housing Opportunity Fund was revealed during the State of the State address last week.

The proposal is part of a $1.5-billion infrastructure and economic development plan to enhance economic growth and opportunity across the state. Assemblyman Vito Lopez, chair of the Assembly Housing Committee, explains in a prepared statement that the program is the first of its kind in the state and “will go a long way towards helping us get out of the affordable housing crisis we’re currently in.”