State Budget News – Settlement Funds used for increases over multiple years

Rural and Neighborhood Preservation and Coalitions have been funded by the Mortgage Insurance Fund at last year’s levels with additional JP Morgan Chase funding $20,259,000 over the next three years.  It is hoped that this allocation will postpone the ”annual RPC/ NPC dance” for a few years.

Along with annual appropriations, increases to programs were made from JP Morgan Chase settlement funds to be distributed over 2-3 years.  There was a significant increase to the annual appropriation of Main Street with an annual line of $4.2 and an additional $5.5 million.  NYS AHC was funded at $29 million, Access to Home, RESTORE, Rural and Urban Community Investment Fund, HHAP and HTF all have increased funding levels. With the combined funding,  it is unclear right now how much will be distributed annually

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