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Governor Kathy Hochul announced a significant investment of over $270 million to preserve more than 1,800 affordable homes across New York State. This funding, revealed on Tuesday (March 18), is part of a broader effort to address the state's housing crisis. In Onondaga County, $16.6 million will be directed to the Van Buren Apartments in Van Buren and La Madre Landing in Baldwinsville.
The funds come from a combination of state and federal low-income housing tax credits and subsidies. Governor Hochul emphasized that the key to solving New York's housing issues lies in building more homes. She also expressed her support for expanding the Low-Income Housing Tax Credit to further aid in these efforts.
According to CNY Central, this funding is part of Hochul’s $25 billion five-year Housing Plan, which aims to create or preserve 100,000 affordable homes. The governor highlighted the importance of these resources in providing New Yorkers with access to affordable, modern, and sustainable housing that includes amenities such as childcare and supportive services.
News10 reported that the announcement was made at Station 25 in Albany, where Governor Hochul reiterated her commitment to tackling the housing crisis with strategic investments and legislative support.