City Council members are fighting Mayor Bill de Blasio’s proposed cuts to the city’s capital budget, saying it will mean a loss of 21,000 affordable apartments over the next few years. Based on an analysis by the New York Housing Conference, officials estimate that the mayor’s proposed $2.3 billion reduction in the city’s capital budget will delay financing for 5,000 new affordable units and 15,000 affordable and supportive housing units that would have been preserved.
source https://therealdeal.com/2020/06/01/nyc-will-lose-21000-affordable-units-to-budget-cuts-report/
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