In a region where housing affordability and availability have long been pressing issues, the State’s recent designation of seven Hudson Valley municipalities as Pro-Housing Communities marks a significant step forward in the allocation of economic development funds and incentivizing municipalities to address the affordable housing crisis. The seven recently designated municipalities – Croton-on-Hudson, Kingston, New Rochelle, Newburgh, Poughkeepsie, Red Hook, and White Plains were all designated because their zoning codes encourage housing development and they have a track record of issuing permits for housing growth over the past five years. Each community is one where Cuddy & Feder represents housing developers that have contributed to the diversity of local housing stocks in recent years helping them reach a Pro-Housing Community designation by the State.
Understanding the Governor’s Pro-Housing Communities Initiative
Governor Hochul’s Pro-Housing Communities Program rewards communities that are designated under the program with priority treatment in municipal applications for various state discretionary funding programs. Through this designation, certified communities gain priority access to up to $650 million in funding under 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 Long Island Investment Fund (LIIF), the Mid-Hudson Momentum Fund, and the Public Transportation Modernization Enhancement Program (MEP). These State funded programs empower municipalities to plan and implement local economic development initiatives and continue their momentum on the supply of affordable housing.
Opportunities for Developers
For developers, the Pro-Housing Communities designation achieved by a municipality unlocks additional synergies and tools with which to partner with communities gaining access to these additional state funding sources. State funding can be leveraged and even alleviate financial barriers associated with affordable housing development, making projects economically viable. Pro-Housing Community designations require annual updates to the State to remain certified which presents an opportunity to work with municipalities to further streamline the entitlement process, expedite approvals and incorporate complimentary projects into local planning. These types of proactive stances by local governments certainly send the right signals to the investment and development community. They efficiently allow private and public capital to be deployed where appropriate to deliver vibrant communities with varied types of housing and execute on those projects aligned with community needs and priorities.
Navigating the Local Landscape
At Cuddy & Feder LLP, our team is dedicated to helping developers streamline their projects. The Pro-Housing Communities initiative offers municipalities another State tool and source of priority funding to achieve local economic development and pro-housing projects. Whether you’re seeking guidance on land use, zoning and development or negotiating community agreements, we’re here to provide tailored legal solutions in each of the Hudson Valley’s designated Pro-Housing Communities.
