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Article: Bloomberg announces $187m housing boost.(Michael R. Bloomberg and City's Department of Housing Preservation and Development to construct supportive housing)
- Article from:
- Real Estate Weekly
- Article date:
- May 4, 2005
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Mayor Michael R. Bloomberg announced that $187 million has been added to the Ten Year Capital Plan of the City's Department of Housing Preservation and Development (HPD) to construct supportive housing.
The additional funding to the agency's Supportive Housing Loan Program is a 65% increase, from $285 million to $472 million.
Of the $187 million, $132 million is City capital funds and $55 million is Federal HOME funds which is a federal grant given annually to the City that HPD uses for rehabilitation and construction of housing for low income residents.
Supportive housing combines affordable, permanent housing with such on-site services as ...