Eliot Spitzer has proposed a new fund for offering housing assistance to New Yorkers, especially those in New York City, to help offset the high housing costs. The 400 million dollar fund would be available to the poor and those with special needs.
Of course, the real issue is how they can fund this program since the state has a significant deficit for 2008 fiscal year. But if you are a landlord in New York and trying to find new avenues for revenue, refitting your property to accommodate the beneficiaries of this new program could provide a new source of income.
While some lawmakers lauded the proposal, others said they needed details about how the governor would pay for it, given an anticipated $4 billion deficit for the fiscal year that begins in April.
“When the governor said no new taxes, how do you get to achieve these goals with the economy softening, with revenue softening?” asked Senator John J. Bonacic, a Republican from Mount Hope and the chairman of the Senate’s Housing Committee. via New York Times.