May 22, 2025
The Boost News
Many people with intellectual and developmental disabilities strive to live independently. But even those able to theoretically achieve that goal run into a major roadblock: the lack of affordable housing.
While there isn’t much in the way of uplifting news in New York’s recently passed fiscal year 2026 budget, there is some funding being allotted to help invigorate the state’s affordable housing stock.
The budget includes a variety of measures. Below are some points, courtesy of the New York State Homes and Community Renewal newsletter:
- New York State is investing $1 billion to support affordable housing in New York City’s $5 billion “City of Yes” plan, aimed at building 80,000 new homes over the next 15 years.
- A $100 million fund will address financing gaps for upstate and NYC affordable housing projects, providing lower-cost capital.
- Doubling the New York State Low-Income Housing Tax Credit will generate $210 million in private investment annually for affordable housing.
- A $100 million fund will help municipalities unlock housing potential by supporting infrastructure improvements like sewer and water upgrades.
- Housing Access Vouchers: $50 million pilot program to help homeless families and those at risk of losing housing.
- Affordable Homebuyer Tax Incentive: New property tax incentive to help low- and moderate-income homebuyers.
Photo: Downtown Buffalo (Credit: PICRYL)