Cuomo Proposes Release Of $2 Billion For Affordable Housing

ALBANY, N.Y. (AP) — Gov. Andrew Cuomo has proposed releasing $2 billion in funding to help create more than 100,000 units of affordable and supportive housing over the next five years, and is asking legislative leaders to join the agreement.

A spokesman for the Assembly's Democratic Speaker Carl Heastie says Assembly Democrats issued an earlier proposal and will review Cuomo's.

The Democratic governor says his proposal includes up to $1.4 billion for new housing units, $565 million to make existing units more affordable, $54 million toward home ownership and $10 million in investments in downtowns and villages.

A spokesman for Senate Republican Majority Leader John Flanagan says Senate Republicans will keep working for "a balanced proposal" to preserving affordability statewide and creating needed housing for seniors and veterans upstate.

[STORY BY: THE ASSOCIATED PRESS]