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Governor Andrew M. Cuomo Thursday launched a landmark $20 billion, five-year plan to combat homelessness and advance the construction of affordable housing in New York State.

The action plan is made possible by the release of $2.5 billion in capital funding delivered in the FY 2018 Budget which will create and preserve more than 110,000 units of affordable and 6,000 units of supportive housing over the next five years. This marks the largest investment in the creation and preservation of affordable housing and efforts to end homelessness in the history of New York.

“This legislation is a major step forward for New York as we strengthen our efforts to combat homelessness and expand access to quality, affordable housing for our most vulnerable men, women and children,” Governor Cuomo said. “By making significant investments in rehabilitating, preserving and constructing safe and affordable housing, we will open doors for low-income residents and support hard-working New Yorkers in every region of the state.”

This historic investment offers a transformational blueprint to address the diversity of housing needs in New York, strengthen protections for tenants, and create new opportunities for low-to-moderate income households. The capital funding delivered in the FY 2018 Budget includes:

Supportive Housing: $950 million for the construction or operation of at least 6,000 supportive housing units throughout the state.
New Construction: $472 million for new construction or adaptive reuse of rental housing affordable to households that earn up to 60 percent of area median income.
New York City Housing Authority: $200 million for projects and improvements related at housing developments owned or operated by NYCHA.
NYC 100% Affordable: $100 million for the construction and preservation of 100 percent affordable units in New York City.
Senior Housing: $125 million for developing or rehabilitating affordable housing targeted to low-income seniors, aged 60 and above.
Rural and Urban Community Investment Fund: $45 million for mixed-use affordable housing developments that may include retail, commercial or community development components.
Middle Income Housing: $150 million for new construction, adaptive reuse, or reconstruction of rental housing affordable to households that earn between 60 percent and 130 percent of AMI.
Affordable Housing Preservation: $146 million for substantial or moderate rehabilitation of existing affordable multi-family rental housing currently under a regulatory agreement.
Mitchell-Lama Rehabilitation: $75 million to preserve and improve Mitchell-Lama properties throughout the State.
Public Housing: $125 million for substantial or moderate rehabilitation and/or the demolition and replacement through new construction of public housing authority developments outside of New York City.
Small Building Construction: $62.5 million for rehabilitation and/or the demolition and replacement through new construction of buildings of 5 to 40 units.
Home Ownership: $41.5 million for promoting home ownership among families of low and moderate income and stimulating the development, stabilization, and preservation of New York communities.
Mobile and Manufactured Homes: $13 million for mobile and manufactured home programs.
Main Street Programs: $10 million for stimulating reinvestment in properties located within mixed-use commercial districts located in urban, small town, and rural areas of the state.