We're starting to see some of the first impacts of the new state budget in Western New York with $80 million heading to the area to fund two new housing programs.
The first will put $40 million toward building affordable single and two-family homes in Buffalo, as well as other cities in the state. The funding will cover construction costs and subsidize the sale of the new homes to low-to-moderate income New Yorkers across upstate New York.
"New York has struggled for years to come up with a comprehensive housing policy that would meaningfully address the housing affordability crisis facing every part of the state," Sen. Sean Ryan said. "In the past, most of the conversation has been focused on New York City’s challenges, but we know that affordable housing shortages are a statewide problem. With this year’s budget appropriations and a number of creative policy interventions, we have finally acknowledged that regional challenges require regional solutions and started New York down a path toward solving this problem."
The other $40 million will go toward small landlords. They can apply for grants to make improvements to properties. They will just need to rent the rehabbed units for 10 years.
"Here in Buffalo, we need to create Upstate solutions to Upstate problems, and housing is no exception," Assemblymember Jon D. Rivera said. "Renters and new home buyers must navigate a housing market in Western New York where the houses are full of lead, not properly weatherized for our city’s winters, and often in urgent need of repairs. I was proud to vote for a state budget that includes significant investments to help the City of Good Neighbors better match the housing needs of our population growth. The funding announced today will do so in a way that is equitable and will make homeownership for Buffalonians less of a pipedream and more of a possibility."