ALBANY, N.Y. (NEWS10) – On May 4, the U.S. Department of Housing and Urban Development (HUD) allocated $34.7 million to New York from the nation’s Housing Trust Fund (HTF). HTF is an affordable housing program that bolsters existing federal, state, and local efforts to increase and maintain the supply of quality, safe, and sanitary housing for very low-income households, including families dealing with homelessness.
HUD allocated a total of $382 million through HTF nationwide. Affordable housing planners will use these funds for activities such as property acquisition, development costs, demolition, financing costs, and relocation assistance.
“New York is facing a housing crisis, and the Housing Trust Fund provides funding that contributes to available federal, state, and local resources to increase and preserve the supply of decent, safe, and sanitary affordable housing,” said Alicka Ampry-Samuel, HUD Regional Administrator for New York and New Jersey. “HUD partners working together are a proven lifeline for extremely low-income and very low-income households, including homeless families, that need an affordable place to call home.”
HUD is committed to creating strong, sustainable, inclusive communities and quality affordable homes for all. For more information, please visit HUD.