Governor Cuomo releases 2022 Executive Budget

Governor Cuomo released his 2022 Executive budget proposal yesterday (January 19, 2021).  Due to the impact of COVID 19, this is a rather complicated budget with built in contingencies.  The budget as presented is based on an assumption that the Federal Government will provide New York State with $6 billion in COVID relief to be budgeted over two years.  This is the amount the Governor sees as the minimum amount that would come to New York under the Biden administration.  The budget contains a contingency that if the federal government provides New York with the $15 billion that the Governor believes we are due, funds cut from large accounts like education, medicaid and other large programs would be restored.  On the other hand, if the State receives less that $6 billion in Relief funding, further cuts will have to be made. For the most part, housing programs seem to have been protected from the initial cuts (see the attached table). 

The Rural and Neighborhood Preservation programs are funded at last year’s level with funding from the Mortgage Insurance Fund (MIF).  Rural Preservation is scheduled to receive $5.36 million and Neighborhood Preservation is allocated $12.83 million

Rural Rental Assistance is funded at $21.63 million. Advocates expect to see additional funds for rural renters from the recently announced federal rental assistance program.

The LPA programs are funded at last year’s level with Access to Home funded at $1 million and RESTORE at $1.4 million.  Main Street is scheduled to receive its customary $4.2 million,  Keep in mind that in recent years these funding levels have been enhanced with funds from the JP Morgan Chase settlement.  The JPMC funds are now exhausted so it should be expected that the amount funds awarded under these programs will be slightly reduced going forward.   There is no funding in this budget for the Mobile and Manufactured Home Replacement Program. The Manufactured Home Advantage Program will receive $5 million.

The major capital programs are generally flat funded with the Housing Trust Fund receiving $44.2 million in bonded funding.  Homes for Working Families will receive $14 million from the same source.    A major disappointment for Rural Advocates is that the Affordable Housing Corporation remains flat funded at $26 million.  AHC is an area where Rural Advocates expects to press for additional funds from legislature.

The Governor continues his commitment to Homeless and Supportive housing with HHAP receiving $128 million in capital funds again this year.  The HHAP supportive services programs are scheduled to receive $45 million from the MIF and $65 million in MIF funding will be directed to NYC homeless shelters. The Cuomo budget promises to continue funding of a multiyear capital plan with a commitment of $186 million in new bonded capital to continue funding for the development of 20,000 units of supportive housing . There is an additional $64 million for supportive housing in the OTDA budget.

There is no funding for HOPP or other foreclosure programs in this budget.  HOPP currently has funding available to carry the program into July.  Rural Advocates will be following the lead of HOPP providers in advocating for additional funds to continue the program.

That’s what we know so far.  Stay tuned for more information as it comes available and please plan on joining our virtual advocacy event on February 23rd.  We will have more information on that event soon.

To see the budget table click below

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