NY Gov. proposes $100B infrastructure plan, $20B for housing

Dive Brief:

New York Gov. Andrew Cuomo delivered his State of the State speech Wednesday, making homelessness, lack of affordable housing and a commitment to the state’s physical infrastructure key focal points for 2016, according to The New York Times. His proposal includes $20 billion for housing and a $100 billion state infrastructure plan.
Cuomo outlined a $20 billion program, funded by the state and bank settlements, to add 100,000 permanent housing units over a five-year period, plus thousands more to provide shelter and social services. In the past, Cuomo has criticized New York Mayor Bill de Blasio on his approach to homelessness, but critics of Cuomo say he cut rental assistance, which has contributed to the problem.
Cuomo also detailed his $154 billion state budget spending proposal, which includes a $100 billion infrastructure plan. Cuomo said the plan would be funded with a combination of state, federal, local and private money.

Dive Insight:

On Monday, Cuomo’s secretary Bill Mulrow gave a preview of the governor’s infrastructure program to the New York Building Congress and confirmed the $100 billion amount for infrastructure. He said the plan will resuscitate projects that have been in limbo for years, Real Estate Weekly reported.

Mulrow told the Building Congress that the state will utilize public-private partnerships (P3s) this year as well. The new LaGuardia airport in New York is being built using a P3.

Despite lack of detail on funding sources, Mulrow said Cuomo is "100% committed" to the infrastructure plan, which Mulrow said would create more than 250,000 jobs "doing something that the government should be doing and improving its infrastructure at the same time."

Last week, Cuomo, as a precursor to this speech, emphasized his support of the Penn Station renovation project, a $22 billion investment in upstate roads and bridges, the addition of a third track to the Long Island Rail Road’s Main Line, and a $1 billion plan to expand the Javits Center, the city’s primary convention center.