Troy, NY – Mayor Carmella Mantello announced the City of Troy's application to New York State's Pro-Housing Communities Program. This program will offer the City certification because it actively supports housing growth. It will benefit communities by giving them preferential scoring for certain discretionary funding grants. The Pro-Housing Communities Program is not to be confused with other initiatives such as “good cause eviction.”
“We are excited to take advantage of available state and federal programs that can help our housing needs,” said Mayor Carmella Mantello. “This initiative is all about housing supply and we will continue to work to fulfill those needs in our community.”
The Pro-Housing Community Program, administered by the Department of Homes and Community Renewal, has two eligibility options:
• Permitting an increase in housing stock by 1% (downstate) or 0.33% (upstate) over the past year.
• Permitting an increase in housing stock by 3% (downstate) or 1% (upstate) over the past three years.
Troy qualifies as a Pro-Housing Community under both options.
The Pro-Housing Communities designation will help leverage additional private sector investment by unlocking access to specific programs, including:
• The Downtown Revitalization Initiative (DRI)
• The NY Forward program
• The Regional Council Capital Fund
• Capital projects from the Market New York program
• The New York Main Street program
• The Mid-Hudson Momentum Fund
Mantello concluded, “In Troy, we have already done a great deal of work to help encourage more investment in housing stock and we will be doing more. This is another positive step that will allow Troy to access funds that will help leverage additional private sector investment.”