After failing to pass her ambitious Housing Compact proposal last year, Gov. Kathy Hochul is using a lighter touch on housing—but state and city lawmakers have expressed hope for a potential compromise to both increase the development of affordable homes and protect tenants.
The governor’s State of the State address will include proposals to discourage landlords—and insurance companies—from business practices rooted in anti-voucher bias.
Government officials estimate it will cost nearly $44 billion to fulfill the state’s climate law, which aims to stop powering the state with polluting fossil fuels and reduce 85 percent of greenhouse gas emissions below 1990 levels by 2050.
The program will charge companies for carbon pollution and introduce a novel rebate initiative that promises to distribute $1 billion to New Yorkers. But environmentalists say its success will rest on how exactly the state designs the program, to ensure it doesn’t allow companies to essentially pay to pollute without meaningfully lowering emissions.
Thursday night, the same day Mayor Eric Adams unveiled a preliminary budget focused on “fiscal discipline” and two days after Gov. Kathy Hochul laid out her priorities for the year ahead in her State of the State speech, 70,525 people slept in a New York City Department of Homeless Services (DHS) shelter.
“New York finally has a big, bold, and brave plan to really make the state affordable. It will attack the lack of housing supply, the inequitable distribution of housing, and the reticence of some local leaders to do their part.”
“As Gov. Kathy Hochul is set to deliver the speech that could define her first full term, she has an opportunity to set a path of real progress on housing. But she will have to break the patterns of past leadership—and her own first year in office.”
Kathy Hochul’s first State of the State proposal included sweeping plans for affordable housing, free legal assistance for low-income tenants and sending social workers into the subways to conduct homeless outreach. But the governor failed to address other high-profile issues, like the end of pandemic eviction protections and the “Good Cause” eviction bill.
In her State of the State plan, the governor pitched “a different kind of abatement program” to replace 421-a, which critics see as a developer-friendly policy that siphons nearly $2 billion per year from the municipal property tax pool.
Hochul, who became the state’s first female governor after former Gov. Andrew Cuomo resigned in 2021, has worked hard to distance herself from her predecessor, and from what she has described as a toxic working culture in the Capitol.
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