The New York State Division of Housing & Community Renewal has released its Executive Budget for 2012-2013. The Executive Budget recommends $291.7 million for the DHCR, which represents a decrease of $22.35 million from the 2011-12 Budget. The decrease primarily reflects the elimination of funding for the Neighborhood and Rural Preservation Programs and a reduction in Federal authority for the Small Cities Community Development Block Grant. Major changes include:
- Creation of a Tenant Protection Unit to proactively enforce landlord obligations and impose penalties for failure to comply with rent laws;
- Increases State Low Income Housing Tax Credit funding to $8 million, an increase of $4 million from the 2011-12 Budget;
- Elimination of Funding for the Neighborhood and Rural Preservation Programs;
- Increases funding for the Rural Rental Assistance Program from $15 million to $19.6 million.
?To read detailed appropriations tables, click here.