Last year’s budget was all about tax incentives, tenant protections and the potential to upzone parts of NYC for more housing.
This year, I had a lot less to talk about. Of course, the looming threat of federal funding cuts means that this year’s spending plan could be chopped up mid-year, and the future of various housing programs is up in the air, so there is no shortage of housing and real estate-related issues to track.
The lack of big housing swings in this year’s budget may have created room for a long-sought policy to be approved: a state-based voucher program. The program is a four-year pilot, and allocated $50 million for this year, which is a fraction of what lawmakers have long sought. But the fact that it was included at all this year is a big deal, and proponents are hoping this is a foot in the door to getting larger allocations in the years ahead…