The budget proposed by New York Gov. Kathy Hochul includes plans to drive new housing construction, address the influx of migrants, and crack down on illegal marijuana shops. The $237 billion budget deal was announced as a “conceptual agreement” after negotiations with leaders of the state Senate and Assembly. The housing plan involves providing tax breaks for developers, implementing tenant protections, and using commercial properties and state lands for residential housing. The deal also includes $2.4 billion to address migrants overwhelming New York City’s homeless shelters and a strategy to combat unlicensed marijuana storefronts.
Lawmakers, including state Sen. Liz Krueger, were caught off guard by the governor’s announcement, as they were still in the process of working out the specifics of the spending plan. The Senate and Assembly, both controlled by Democrats, would need to approve the budget before it becomes law. The housing agreement was a major sticking point in negotiations, with officials aiming to increase the availability of affordable homes while protecting tenants and incentivizing developers to build. Additionally, the budget includes provisions for addressing the influx of migrants in New York City and dealing with illegal marijuana shops.
The housing deal outlined by Hochul includes a new tax break for developers to incentivize building and a set of tenant protections aimed at preventing rent hikes and unjust evictions. Specific details of these protections were not provided. The plan also involves using commercial properties and state lands for residential housing. The budget would also allocate $2.4 billion for addressing the growing number of migrants in New York City’s homeless shelters, offering short-term shelter services, legal assistance, and more. Additionally, the governor announced a new strategy to combat unlicensed marijuana storefronts by making it easier for local authorities to shut down black market shops.
Overall, the proposed budget deal in New York addresses key issues such as housing construction, migrant influx, and illegal marijuana shops. The agreement includes provisions for tax breaks for developers, tenant protections, and using commercial properties for residential housing. The budget also allocates funds to address the influx of migrants in New York City and cracks down on unlicensed marijuana storefronts. Lawmakers in the Senate and Assembly will need to approve the budget before it can become law, with negotiations ongoing to finalize the specifics of the spending plan. Governor Hochul described the announcement as a step towards reaching a final resolution on the budget, highlighting the importance of agreement among all parties involved.
