The Assembly’s one-house budget proposal includes a multiyear $150 million plan for a new affordable housing program for seniors that could help offset the devastating loss of federal funding for any new Section 202 program developments, Assemblyman Steven Cymbrowitz, Chair of the Aging Committee, announced last week.

By 2030, older adults are expected to make up nearly 25 percent of New York State’s entire population. It is critical that we have affordable housing resources in place to meet both the current and long-term needs of low-income elderly New Yorkers,” Assemblyman Cymbrowitz said.

The Assembly’s proposed program, the Developing Affordable Senior Housing program, sets aside $30 million each year for the next five years to encourage the development of affordable rental housing for low-income older adults. The proposal would allow municipalities, not-for-profits, and/or private developers to apply to the Housing Trust Fund Corporation for assistance of up to $75,000 per apartment. The rent would be limited to no more than 30 percent of the senior’s household income.

The timing of this proposal is critical given the federal government’s withdrawal of funding for support of senior housing under the department of Housing and Urban Development’s Section 202 program, Assemblyman Cymbrowitz said.
The federal Section 202 Supportive Housing for the Elderly program, established in 1959, provides housing with supportive services and rental assistance for low-income elderly. The federal government has not provided funding in recent years to develop new Section 202 units.

Up to 10 percent of the money from the Developing Affordable Senior Housing program can be spent on supportive housing.

“This is not a time for essential senior housing programs to be cut but rather to be expanded. Too many seniors live in poverty and face daily struggles trying to pay for essentials such as medications, food and rent within the constraints of a fixed income,” he said. “I’m pleased that the Assembly’s budget proposal is stepping in to fulfill its commitment to this vulnerable constituency.”