Advocacy Federal



The bill passed by the House would eliminate private activity multifamily Housing Bonds, which play a crucial role in financing the production of affordable housing. As we made clear to every member of the New York delegation, the elimination of these Housing Bonds would result in an annual statewide loss of approximately $4.5 billion in affordable housing financing, preventing the production of approximately 17,000 affordable homes and 28,000 jobs across our state each year. Taking this action is especially unconscionable at a time when rents are still rising, homelessness is increasing and public housing infrastructure continues to deteriorate. MORE.

"PABs are so important to housing production that, over the past five years, they were responsible for the creation of 42,000 affordable homes in Florida and Texas. In 2015, nearly 40 percent of new affordable homes in those two states were financed with the bonds, not to mention their impact in many other states." MORE.


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