Thursday, March 16, 2017

NYC’s Affordable Housing May Lose at Least $20M Under Trump Funding Cuts

Cuts from the Trump Administration could deliver a Major Blow to New York City’s Affordable Housing.

The Head of New York City Department of Housing Preservation and Development, which receives 86% of its Funds from Federal Grants, said it will see at least $20 million vanish from Rental Assistance Programs affecting 39,000 New Yorkers. That’s on top of more than $75 million in cuts to the New York City Housing Authority.

“There will likely be tough choices ahead to make,” testified Housing Commissioner Maria Torres-Springer at a City Council Hearing.

The Department, which builds and preserves Affordable Housing and enforces Building Code Violations, expects $635 million in Federal Aid in 2018, including $489 million in Rental Subsidies like Section 8.

Another $135 million comes from the Federal Block Grant program, which helps pay for Repairs and Inspections at City buildings.

President Trump will propose eliminating the entire $3 billion Grant program in his Budget Draft.

City Housing officials, citing uncertainty in Washington, provided no details about which Services could wind up on the chopping block, instead vowing to keep fighting the Cuts.

Mayor de Blasio expects worst for City’s budget from slash-happy Trump.

NYCHA Chairwoman Shola Olatoye warned earlier this week that Federal Cuts could lead the City to stop making daily Repairs after 4:30 p.m. and reduce Section 8 Vouchers.

President Trump will propose Eliminating the Entire Community Development Block Grant, which totals $3 billion and helps pay for Repairs and Inspections at City buildings.

Mayor de Blasio’s plan to build or preserve 200,000 units of Affordable Housing in 10 years is mostly funded by the City’s budget, but Federal cuts could indirectly slow that process down by creating problems elsewhere, Housing Advocates say.

De Blasio has vowed to fight possible Trump cuts, but his Budget Director admitted earlier Wednesday the City was likely to take a Financial hit.

“Will there be cuts? Of course there will be cuts,” Budget Director Dean Fuleihan said during a Panel Discussion hosted by the Association for a Better New York.

NYC Wins When Everyone Can Vote! Michael H. Drucker
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