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NORTH AMERICAN Newsline DECEMBER 13, 2024 | The Indian Eye 20

Mayor Adams, Governor Hochul, and Speaker

Adams celebrates passage of most Pro-Housing

Proposal in New York City History

New York City Council Votes in Favor of “City of Yes for Housing Opportunity,”Creating 80,000 New
Homes Over Next 15 Years, and Investing $5 Billion Towards Critical Infrastructure Updates and Housing

OUR BUREAU

NEW YORK, NY
ew York City Mayor Eric Ad-
ams, New York State Gov-
Nernor Kathy Hochul, New
York City Council Speaker Adrienne
Adams and New York City Depart-
ment of City Planning (DCP) Direc-
tor and City Planning Commission
(CPC) Chair Dan Garodnick have
celebrated the passage of “City of
Yes for Housing Opportunity,” the
most pro-housing zoning proposal
in New York City history. As the city
confronts a generational housing cri-
sis with a 1.4 percent rental vacancy
rate, the citywide rezoning will enable
the creation of 80,000 new homes
over the next 15 years and invest $5
billion towards critical infrastructure
updates and housing. The City of Yes
proposal alone exceeds all the hous-
ing created from rezonings during any Mayor Adams is committing $1 billion for housing capital. He is also investing $2 billion in infrastructure projects — to be reflected
mayoral administration of the last 50 in upcoming financial plans (File photo)
years, including all of the 12 years of
the Bloomberg administration and all towards stability, and an opportunity ments in our City for All housing Mayor Adams will spend $1 billion
eight years of the de Blasio adminis- that’s been out of grasp for too many plan,” said Speaker Adams. “By tak- in expense funding over 10 years in
tration. for too long. City of Yes will forever ing a major step to address the hous- tenant protection, voucher assistance
“Today is a historic day in New change the course of our city’s his- ing shortage, while supporting exist- and combatting source-of-income
York City, but, more importantly, tory by bringing that dream closer to ing homeowners and tenants, making discrimination, flood monitoring, and
for working-class New Yorkers. We reality for New Yorkers — and it all housing more affordable, expanding neighborhood planning. Addition-
showed the nation that government started by saying ‘yes.’” homeownership opportunities, and ally, thanks to her strong leadership
can still be bold and brave by passing “Our only shot at solving New strengthening the infrastructure of and shared commitment to building
the most pro-housing piece of legis- York’s affordability crisis is by build- neighborhoods, we are advancing a housing, Governor Hochul is com-
lation in city history. Our administra- ing more housing — and that’s why safer and stronger city. This shows mitting another $1 billion to housing
tion proposed and fought hard for this I’m committing $1 billion for projects that our city can ensure every area capital over the next five years, sub-
proposal for more than year, and now that will make ‘City of Yes’ a reality,” helps contribute to confronting the ject to state budget approval.
New Yorkers are the ones who will said Governor Hochul. “I signed the housing crisis by creating more hous- The passage of City of Yes for
benefit from lower rent,” said Mayor most powerful pro-housing legisla- ing, while respecting the differences Housing Opportunity follows an
Adams. “I want to thank everyone tion in three generations earlier this of neighborhoods across the five bor- extensive public review process, in-
who worked so hard to come togeth- year, but the work is far from over. oughs and investing in New Yorkers.” cluding over 175 Community Board
er and collaborate on this landmark That’s why it’s critical for New York City of Yes for Housing Oppor- meetings, 10 public information
legislation, especially City Council City to move forward with zoning tunity invests $5 billion towards the sessions, a CPC hearing in which a
Speaker Adams and Governor Ho- reforms that will create more of the city’s housing and critical infrastruc- majority of speakers testified in fa-
chul, the City Hall and agency teams homes New Yorkers so desperately ture updates. Mayor Adams is com- vor of the proposal, and more. The
that kept this plan moving forward no need.” mitting $1 billion for housing capital. proposal also received favorable rec-
matter what, the advocates who knew “Today, the Council made histor- He is also investing $2 billion in infra- ommendations from Bronx Borough
we had to get this done, and everyday ic strides to create more homes and structure projects — to be reflected President Vanessa Gibson, Brooklyn
New Yorkers who made their voices make our city more affordable by in upcoming financial plans — that Borough President Antonio Reyno-
heard. A home is more than just four approving the modified Zoning for will support investments in sewer so, Manhattan Borough President
walls and a roof. It’s the key to un- Housing Opportunity text amend- and flood infrastructure, street im- Mark Levine, and Queens Borough
locking the American Dream, a path ment with $5 billion of major invest- provements, and open space. Finally, President Donovan Richards.

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