With state budget talks now in overtime, advocates for affordable housing are making renewed efforts to get their provisions into a finalized spending plan.
Dozens of community organizations on Friday urged top officials in New York to commit funding for community land trusts, limited equity cooperatives and other measures in what's known as social housing in an agreed-to state budget.
The push is being made amid ongoing concerns over the high cost of housing in New York and lapsed tenant protections.
The advocates, which include Housing Justice for All and New York City Community Land Initiative, are backing Gov. Kathy Hochul's plan for a pilot program that would spend $50 million for affordable and resident-controlled housing. At the same time, lawmakers in both houses of the state Legislature are backing $40 million for the Community Land Trust Acquisition Fund, a proposal advocacy organizations back as well.
The Assembly is also supporting the $1 billion plan for the Foundations for the Future program, which would back limited-equity cooperative development.
But advocates want to see the budget go even further with the approval of the Tenant Opportunity to Purchase Act, which would give renters a new right to make the first offer and give first refusal when buildings go up for sale.
"Without the expansion of tenants rights that TOPA provides, many low-income New Yorkers will continue to fall victim to unscrupulous landlords and predatory real estate investors," the advocates wrote in the letter.