Statement on the FY27 City Budget Deal

The City Budget deal announced today represents a significant victory for ANHD, our members, and the broader movement dedicated to preserving affordable housing now and into the future. Our call for $1 billion in housing capital resources specifically dedicated to preservation was met. These much needed resources will help to ensure that tenants of affordable housing developments throughout the city have the security and stability they deserve. Additionally, the expansion of the CityFHEPS program is a critical step towards reducing homelessness and keeping vulnerable New Yorkers stably housed. ANHD looks forward to continuing to work with the Mamdani Administration and the City Council to develop the tools and resources needed to keep our communities’ affordable housing stable for the long term.

ANHD also thanks the New York City Council for renewing the Community Housing Preservation Strategies (CHPS) at $3.65 million, which will allow 45+ community-based organizations to continue protecting low-income, BIPOC, and immigrant tenants and homeowners. However, this critical initiative has faced over a decade of flat funding that ignores a substantial rise in costs since FY16. As New York City’s housing affordability crisis continues to grow, a much greater financial investment, coupled with a resolution to the systemic delays in city contracting, will be urgently required to support frontline service providers and keep vulnerable New Yorkers in their homes.