Governor Kathy Hochul, following a legislative setback to her comprehensive housing plan earlier this year, has initiated new measures via executive order to address the state’s ongoing housing crisis. The governor intends to allocate $650 million in discretionary funds to stimulate housing development across the state and intends to establish a smaller version of the now-defunct 421a tax abatement program.
The executive order also outlines Hochul’s plan to repurpose state-owned properties for potential housing sites. Additionally, she intends to introduce a public data dashboard to monitor communities’ efforts to implement more accommodating housing policies, including zoning changes.
The newly announced funding will be directed towards “pro-housing communities”, with the exact details of fund allocation still to be determined. Local governments seeking to benefit from this funding will be required to pass binding resolutions that detail their plans to enhance housing provision.
Hochul’s executive action follows stalled negotiations with the state Legislature over her housing proposal, which was met with bipartisan opposition due to its potential override of local zoning for specific projects. In spite of these challenges, the governor remains committed to her mission, hinting at a revitalized push for a broader housing plan when the Legislature reconvenes in January.
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