New York Gov. Andrew Cuomo recently revealed his 2011-2012 Executive Budget proposal that includes approximately $308 million for the Division of Housing and Community Renewal, a figure that represents a nearly $157 million reduction from last year’s budget. Notably, the budget recommends consolidating the Neighborhood and Rural Preservation programs into a single program and cutting the programs’ funding by half. Funding for the state low-income housing tax credit program will remain at $4 million.

Read more…