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Article: $100M in housing funds stuck in power play. (squabble between Mayor's Office and NY City Council)
- Article from:
- Real Estate Weekly
- Article date:
- January 22, 1992
- Author:
CopyrightCOPYRIGHT 1992 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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$100M in housing funds stuck in power play
Requests for Proposals to build permanent 500 units of housing for the homeless in New York City have been answered by more than 200 developers, however, the more than $100 million designated is in limbo because of a squabble between the Mayor's Office and the City Council.
The three-year-old fund, a joint effort between the city and state, was slated to be allocated by the now defunct Board of Estimate, and is now the subject of a fight between the Council and Mayor's office over who will disburse the money.
John Deacy, spokesman for the New York State Housing Finance Agency, who is the main State ...