Troy Mayor Carmella Mantello has confirmed the city’s application to New York State’s Pro-Housing Communities Program. This program rewards cities that promote housing growth with better chances at receiving discretionary funding grants. Mantello is enthusiastic about the program’s potential to address housing needs in Troy.
The Department of Homes and Community Renewal manages the Pro-Housing Community Program. It offers two ways to qualify: by increasing housing stock by 1% or 0.33% in the last year, or by 3% or 1% in the last three years, depending on the location. Troy meets both criteria.
The Pro-Housing Communities status will open up access to specific programs, promoting more private sector investment. These include initiatives like the Downtown Revitalization Initiative, the NY Forward program, and the Regional Council Capital Fund, among others.
Mantello ended by emphasizing Troy’s continuous efforts to promote housing investment. She believes the Pro-Housing Communities status will help Troy secure funds to stimulate more private sector investment.