Governor Kathy Hochul today announced new investments of more than $100 million for projects located in certified Pro-Housing Communities, part of a total $123 million allocated as part of the latest round of the State’s Regional Economic Development Council initiative. Governor Hochul’s Pro-Housing Communities initiative allocates up to $650 million each year in discretionary funds for communities that pledge to modestly increase their housing supply; to date, 273 communities across New York have been certified as Pro-Housing Communities. This year, Governor Hochul is proposing an additional $110 million in funding to cover infrastructure and planning costs for Pro-Housing Communities.
“There’s only one solution to New York’s housing affordability crisis: we’ve got to build more housing,” Governor Hochul said. “The Pro-Housing Communities initiative is delivering the incentives communities are looking for, and this latest round of grant funding will make a real difference in every region of New York. We’re proud of all the certified Pro-Housing Communities in New York and look forward to seeing their continued growth.”
Empire State Development President, CEO and Commissioner Hope Knight said, “The Round XIV awards demonstrate how local priorities align with the state's economic development goals – especially in our Pro-Housing Communities. The overwhelming response to the new Capital Improvement Grants program reflects how municipalities are eager to strengthen their foundations while addressing critical housing needs. Under Governor Hochul's leadership, we continue to create new and dynamic opportunities to create jobs and generate sustainable and equitable growth throughout New York State.”
New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “Governor Hochul has been clear – municipalities who share our vision for smart housing growth will be rewarded. Through these $100 million awards announced today, Pro-Housing Communities will receive a financial boost to their efforts to upgrade infrastructure, strengthen their economies, and embark on projects that improve the quality-of-life for New Yorkers. We thank the Governor for her continued leadership and applaud our partners at the local level who are working diligently in every region of the state to find solutions to the housing shortage.”
Regional Economic Development Council Round XIV
Round XIV of the Regional Council initiative further advanced Governor Hochul's housing agenda by including a new program featuring funding earmarked for projects located in Pro-Housing Communities, as certified by Homes and Community Renewal (HCR). The Capital Improvement Grants for Pro-Housing Communities Program, administered by Empire State Development (ESD), made up to $40 million available to municipalities, counties and not-for-profits to support capital improvement and placemaking projects within Pro-Housing Communities. Due to an overwhelming response in applications and high demand, more than $55 million is being awarded to support these projects, reflecting the strong pro-housing commitment of the State's municipalities.
Three other programs in Round XIV were included in the Pro-Housing Community designation: ESD's Grants and Market New York programs, and HCR's New York Main Street program. Additionally, more than $9 million in Excelsior Jobs Program tax credits have been awarded to support the job creation and investment goals in projects located throughout the State. In the coming weeks, more than $250 million will be awarded to Pro-Housing Communities from the Downtown Revitalization Initiative, New York Forward and Mid-Hudson Momentum Programs.
Select projects in Pro-Housing Communities from Round XIV include: