New York, NY, March 11, 2026 -- As we see the details from the proposed one-house budgets of the New York State Assembly and Senate, we welcome the critical investments both chambers have proposed for investments to create and preserve much-needed affordable housing and keep tenants stably housed. The State and Governor Hochul must now do everything in their power to expand and protect New York’s affordable housing portfolio in the final budget.

We are thrilled to see the inclusion of the full $250 million advocates requested for the Housing Access Voucher Program, a vital rental assistance program that issues critical vouchers to secure housing stability. We support the full funding of the program in the final budget, and we urge the State Legislature and Governor Hochul to ensure that this program becomes a permanent one for New Yorkers. We are also thankful to the Senate for their proposal to make common sense reforms to the State Environmental Quality Review Act (SEQR). We specifically want to thank Senator Rachel May who has long recognized the role that SEQR plays in delaying new housing and community development and has led the charge to modernize the law. We urge New York’s leaders to remain steadfast in support of SEQR reform, streamlining the construction of housing our State desperately needs.

We also welcome the additional proposed funding for the Fair Housing Testing, Education and Networking Program, which is crucial to the enforcement of New York’s fair housing laws, and call on the State now to include the Senate’s proposed $8 million in the final budget.

To preserve New York’s affordable housing portfolio – which is in growing financial distress -- we urge the State to include the Senate's proposal to increase funding for the New York State Supportive Housing Program and USDA 515 preservation, in the final budget. While these proposals are not enough to fully meet our state’s preservation needs, they are a welcome start. As affordable housing owners contend with steeply rising operating costs, we also applaud the Senate for its commitment to tackling skyrocketing insurance rates for affordable housing. We urge the Governor and Legislature to work together now to ensure that proposals around data transparency, expanding discounts for affordable housing providers, and reducing property insurance costs, are included in the State’s final budget this year. We also look forward to addressing this issue more comprehensively during the remainder of the legislative session.

New York faces an affordable housing shortage of historic proportions, with housing providers in growing financial jeopardy in the face of mounting operating costs and reduced rent collection. The State has the tools to make significant strides in easing this crisis for New Yorkers; it now needs the resolve to fund and realize them. We urge Governor Hochul and the State Legislature to prioritize these critical measures.”