Assembly Speaker Carl Heastie and Housing Committee Chair Steven Cymbrowitz today announced that the Assembly's budget proposal for SFY 2017-18 provides a plan for the investment of $2.5 billion in funding that was dedicated for supportive and affordable housing development in last year's enacted budget. The plan also includes a new rental assistance program for low income seniors funded by a 2.5 percent tax on multi-million dollar real estate transactions. It also expands and increases funding for the Tenant Protection Unit and increases funding for foreclosure prevention services.
$4 Million State Investment Buys Cooperative Ownership and Essential Infrastructure Improvements at Kayadeross Acres Manufactured Home Park Ballston Spa, NY December 20, 2016: New York State Homes and Community Renewal (HCR), ROC USA and PathStone today announced that thanks to a $3.4 million loan, homeowners in the 33-acre Kayadeross Acres Manufactured Home Cooperative, formerly known as Creek and Pines, took a big step toward securing their financial futures when they purchased the land beneath their homes. The funds will finance the land acquisition and conversion to cooperative ownership; an additional $675,000 will go toward upgrades and repairs to major infrastructure systems serving the residents
Maloney Announces Major Federal Investments in Hudson Valley Youth Homeless Shelters Totaling $400,000
Representative Sean Patrick Maloney announced a total of $400,000 in investments for two Hudson Valley nonprofits to help runaway and homeless youth. Funded through the Department of Health and Human Services (HHS), Hudson River Housing will receive $200,000 to provide adequate staffing for their 24 hour shelter, and Green Chimneys will receive $200,000 to support its wraparound services including counseling, advocacy and follow-up.
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Rite Aid property located at 8230 Cazenovia Road in Manlius, New York for $3,800,000. The 12,795 square foot Rite Aid property is strategically positioned along Cazenovia Road which is a primary north-south thoroughfare in the trade area.
Governor Cuomo Announces Grand Opening of $14.4 Million Affordable Housing Development in Ontario County
Governor Andrew M. Cuomo today announced the grand opening of the $14.4 million Trolley Station Apartments in Canandaigua, Ontario County. The 48-unit supportive housing development, operated by DePaul Community Services, offers residential based services for low-income individuals and residents with behavioral health issues
Representative Sean Patrick Maloney, member of the House Transportation and Infrastructure Committee, announced that he has secured a Federal Aviation Administration (FAA) investment of over $300,000 for Dutchess County Airport. This federal investment of $313,200 will be used to replace an Aircraft Rescue and Firefighting (ARFF) building and a snow removal building. Both structures protect critical safety equipment from adverse weather conditions, and allow the airport to comply with federal aviation safety requirements.
The New York Power Authority today announced the completion of a $20 million renovation project by Magellan Aerospace, New York, a Long Island-based aircraft parts manufacturer. Magellan is receiving low-cost electricity from the Governor’s ReCharge NY program supporting 125 jobs and $27 million in capital investments
U.S. General Services Administration (GSA) Administrator Denise Turner Roth and Congressman Gregory W. Meeks outlined how the President’s Fiscal Year 2017 budget request for GSA invests in federal infrastructure, including an $8.5 million request for a repair and alteration project for the modernization of the Joseph P. Addabbo Federal Office Building. The proposed project builds on the agency’s commitment to be an economic catalyst and stimulate job growth in communities across the nation.
Statement From Deputy Mayor Alicia Glen And NYCEDC President Maria Torres-Springer on 2015 Venture...
Reports on PricewaterhouseCoopers LLP and the National Venture Capital Association’s analysis of Venture Capital funding indicate that $5.95 billion of venture-capital funding was invested in New York City companies in 2015, up 62 percent from the $3.67 billion invested in 2014. In total, there were 395 venture-capital deals in 2015, up from 367 the previous year.
Congressman Paul Tonko (NY-20) this week continued his campaign to advance renewable sources of energy in asking Speaker of the House Paul Ryan and House Minority Leader Nancy Pelosi to include in a year-end tax extender package key priorities related to the Solar Investment Tax Credit (ITC)
Congressman Brian Higgins (NY-26) spoke on the House floor to urge Congress to extend the Solar Investment Tax Credit (ITC) as part of the Tax Increase Prevention and Real Estate Investment Act 2015. The bill seeks to promote economic growth by extending tax provisions that have expired or will expire in the near future. Higgins, with Rep. Richard Hanna, also led on a bipartisan letter sent to House leadership calling for the extension.
Mayor Bill de Blasio today joined the Metropolitan Transportation Authority, development partners, federal, state and local elected officials to mark the commencement of passenger service on the number 7 Subway extension and the opening of a new station at 34th Street and 11th Avenue to link New Yorkers, workers and visitors to Manhattan’s Far West Side. The extension of the 7 Subway line west from Times Square was funded by a $2.4 billion investment by the City of New York
Members of the Homes and Community Renewal (HCR) senior management team joined Governor Andrew M. Cuomo at his Capital for a Day in the Mohawk Valley recently to demonstrate the agency's commitment to New Yorkers in the region through its various revitalization programs. The day featured a walking tour of the Cornhill community in Utica, a neighborhood that is undergoing revitalization, and a roundtable discussion in the City of Amsterdam on housing and community revitalization needs and priorities
SCHUMER: PROPOSED SENATE BUDGET BILL WOULD DECIMATE FUNDING FOR KEY HOUSING PROGRAM THAT PROVIDES...
Current Senate Bill Slashes HOME Investment Partnerships Program (HOME) Funding By More Than 90% From Fiscal Year 2015 Levels – Effectively Decimating Critical Funding Streams For Capital Region
Gebroe-Hammer Associates Reports Jersey City’s Enduring Gentrification is Sustaining Multi-Family Investing
Jersey City, which often draws a close comparison to New York City’s most populous borough, is experiencing yet another wave of multi-family investment demand associated with its Hudson waterfront location and proximity to Manhattan, according to the brokerage professionals at Gebroe-Hammer Associates. Development is moving inland, tenants are migrating from New York City in search of a similar yet less expensive lifestyle and property appreciation is up approximately 7 percent in the past 12 months
Representative Sean Patrick Maloney (NY-18) announced a $3,592,530 investment by the Department of Housing and Urban Development for Orange County for Community Development Block Grants (CDBG) and HOME. Both of these programs promote economic growth through housing assistance and expanding local economic projects.
Governor Andrew M. Cuomo today announced details of a final agreement on a number of major priorities for the end of the 2015-16 legislative session. Governor Cuomo said: “Today, we have reached an agreement on robust, comprehensive reforms that put the people of New York first. We are strengthening rent laws and extending them for four years in the New York City area to protect more than two million tenants.
Governor Cuomo announced major progress in signature revitalization projects at Verona Beach State Park and Green Lakes State Park. Made possible by a $13 million investment from the NY Parks 2020 initiative, the improvements include the completion of a new bathhouse and pavilions in time for the summer swim season at Verona Beach and ongoing campground upgrades and a renovation of the golf clubhouse at Green Lakes
Empire State Development Announced Ace Hardware Corporation Will Expand In New York’s Capital Region
The World’s Largest Hardware Cooperative Retains 292 Jobs and Creates 25 New Jobs in NY Empire State Development (ESD) announced that Ace Hardware Corporation, the world’s largest hardware cooperative, will expand with a new Retail Support Center in Saratoga County at 55 Northern Pines Road in Gansevoort, New York.
The center is a signature project in the Governor’s NY Parks 2020 Plan to revitalize and transform the state park system.
A.G. Schneiderman Announces $1.2 Million Settlement With Manhattan Developer That Pays Restitution To Tenants...
Attorney General Eric T. Schneiderman today announced a settlement with 101 West 78th, LLC, Newcastle Realty Services, LLC, and Margaret Streicker Porres, that requires the developer to pay $1.2 million to New York City to compensate for the loss of five rent-stabilized apartments in an Upper West Side building, some of which were effectively deregulated through prohibited buyout agreements. The deal provides two years of rent payments to tenants who have remained in the building.
Neuhaus praises Orange County Department of Public Works for earning $16,500 rebate for investing...
Orange County Executive Steven M. Neuhaus announced on Thursday that the Department of Public Works has received a rebate for $16,500 by participating in Orange and Rockland’s Big Energy Solutions Rebate Program.
Assemblymen Dave Rible and Sean Kean, both R-Monmouth and Ocean, recently introduced legislation that...
NextGen sets NYCHA on a new path to financial solvency, allowing the Authority to make significant investments in its 178,000 units, and dramatically improve quality of life for the 400,000 residents living in public housing
The New York State Senate today acted on one of its top end-of-session priorities by passing legislation to make the property tax cap permanent. The bill (S5597), sponsored by Senate Majority Leader John Flanagan (R-C-I, East Northport), would prevent the planned expiration of the tax cap to continue saving taxpayers billions of dollars each year, increase investments by businesses, and create more jobs
Congressman Brian Higgins (NY-26) introduced a new strategy to repair our nation’s infrastructure today, the Nation Building Here At Home Act of 2015. The bill aims to create a new grant program to rebuild our nation’s roads, bridges, transit systems, and water infrastructure.