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Hochul vows executive action on affordable housing crisis

Jun 14, 2023 12:32 pm

Kate Lisa reports for New York State of Politics that the state legislature failed to pass most of Gov. Kathy Hochul's plans to address the affordable housing crisis in New York. Assemblymembers are returning next week to complete a few items, but not housing issues. So Hochul is vowing to take some sort of executive action to address housing issues in the state, saying, "I have to focus on, yes protect tenants, but No. 1, I have to build more housing.... We need units built, otherwise, landlords will always be able to charge more because it's a simple matter of supply and demand. And that is something the Legislature didn't quite understand it in a way I hope they will do in the future, and understand if we build more like other cities, it drives the price down. That's all I'm asking for. I think there's still an opportunity." The legislature did not pass Hochul's plan to build 800,000 new housing units around the state. Hochul did not say exactly what executive action she would take, but she may declare state of emergency to construct more affordable housing, or direct state funds to expand tax incentives to build or maintain existing units. Read more about this story at New York State of Politics.