City Council announces plan to tackle affordable housing crisis in NYC
New York City Council Speaker Adrienne Adams announced an action plan and fair housing framework law Thursday that would increase affordable housing and aims to confront the city's housing crisis.
The legislation would address the historic disparities in housing production and neighborhood investments that Adams says have often excluded highly resourced neighborhoods from affordable housing developments. The agenda would also outline actions the city must take in order to deepen affordability.
Adams says the agenda would increase opportunities to make homeownership affordable to working families by adjusting the Housing Preservation and Development's Open Door program. It targets families earning less than $100,000 a year with extensive down payment resources.