Schumer, Gillibrand Announce Over $174 Million In Federal Funding To Aid Ny State Economic Development & Affordable Housing

U.S. Senate Minority Leader Charles E. Schumer and U.S. Senator Kirsten Gillibrand today announced  $174,612,269 in federal funding for communities across New York. The funding was provided by the Office of Community Planning and Development (CPD), which is part of the Department of Housing and Urban Development. Specifically, the funding comprises $125,737,252 in Community Development Block Grant (CDBG) and $48,875,017 in HOME Investment Partnership Program (HOME) funding. As the Senate Democratic Leader, Schumer led the effort in securing an increase in funds for the CDBG and HOME programs. Schumer said this new vital funding, which is a more than $25 million increase from last year’s total, will be a shot in the arm for localities across Upstate New York. Gillibrand pushed for funding for both programs, writing letters of support to Congressional appropriators to include the funding in this year’s budget.

“The Community Development Block Grant and HOME Investment Partnerships Programs are vital streams of investment that support local economic development, community revitalization and affordable housing. Without this non-replaceable funding, many local job-creating development projects that turned around Upstate communities and boosted jobs might not be here today,” said Senator  Schumer. “I am proud of the role I played in securing increases to these programs, that deliver real results to Upstate New Yorkers. The more than $174 million in funding is a big win for Upstate New York and will help cities, towns, villages, and hamlets throughout the state create good paying jobs, deliver essential services to families and seniors and support affordable housing. I will continue to fight day in and day out to protect this critical investment for our communities and make sure New York gets the federal investment it needs and deserves.”

“The HOME Investment Partnerships Program and Community Development Block Grant Program have each made a difference for countless New York families and communities all over our state,” said Senator Gillibrand. “These programs help provide affordable housing to ensure that low-income New Yorkers have a place to live, they help support local economic development, and they provide services for a wide range of community needs. I was proud to support this funding and will continue to fight in the Senate for the resources to support these important programs.

The CDBG and HOME funding was allocated through the U.S. Department of Housing and Urban Development (HUD). Communities in New York State will use the funding to address a wide range of needs and enable local governments to support affordable housing initiatives and expand economic development. The CDBG program provides municipalities in New York with critical funding for transformative and unique development projects and needed funding to leverage outside investment in job creation projects. The funds continue to play a critical role in facilitating local economic development in Upstate NY and helping local governments succeed.

HOME funding is the primary source of funding for state and local governments to buy and rehabilitate affordable housing. According to HUD, the HOME program provides grants to states and localities that communities use, often in partnership with local nonprofit groups or development companies. These communities and organizations then fund activities such as building, buying and rehabilitating affordable housing units for rent or homeownership. HOME is the largest federal block grant provided to state and local governments designed exclusively to create affordable housing.

Schumer and Gillibrand said both programs are critical to New York’s communities because they are capable of funding the kinds of economic development, housing, and revitalization projects that are essential to the success of these local economies. Schumer and Gillibrand were integral in securing increases for both the CDBG and HOME programs. In the recently passed bi-partisan omnibus spending bill, the CDBG program received $3.3 billion from HUD  a $300 million increase from FY17 and the HOME program received $1.362 billion from HUD a $412 million increase from FY17.

Today’s announcement is a result of the FY18 appropriations package, which allocated $3.3 billion to the CDBG program and  $1.362 billion to the HOME program marking major wins for Upstate NY. Schumer and Gillibrand pledged to protect CDBG and HOME funding because both programs provide an irreplaceable source of investment for economic development and affordable housing Upstate.

A breakdown of the funding appears below:

CDBG

HOME