In her latest budget proposal, Governor Kathy Hochul, a Democrat from New York, has incorporated initiatives to promote residential construction in a state known for its high rent and property prices. Additionally, she has allocated $2.4 billion in funding for migrants.
Hochul revealed her budget plan on Tuesday to address the challenges faced by the Empire State, including the ongoing immigration issue under Joe Biden's administration.
As reported by Politico, the Democrat has suggested allocating an additional $2.4 billion towards migrant care, in addition to the $1.9 billion already paid by the state in 2023.
New York City will receive a significant portion of the extra funding. It appears that Hochul and Mayor Eric Adams have come to an agreement to allocate $1.1 billion towards supporting undocumented immigrants in New York City.
"It is important that we find a way to encourage new construction across the entire state," Hochul mentioned during her budget address, where she unveiled initiatives aimed at promoting more residential construction.
"It is interesting to note that in every other state that tackled the issue of building more homes, it took decades to see any progress." According to an additional Politico article, Hochul expressed a sense of urgency in addressing this crisis. By the way, according to a Zumper analysis, New York City has the highest rent costs in the country.
Actually, the rent in the city is approximately $1,000 higher per month compared to the second-highest city. According to the article, the monthly rent in New York City is $4,040. The next closest rent amount in Jersey City, New Jersey is $3,220.
Hochul revealed her budget plan on Tuesday to address the challenges faced by the Empire State, including the ongoing immigration issue under Joe Biden's administration.
As reported by Politico, the Democrat has suggested allocating an additional $2.4 billion towards migrant care, in addition to the $1.9 billion already paid by the state in 2023.
New York City will receive a significant portion of the extra funding. It appears that Hochul and Mayor Eric Adams have come to an agreement to allocate $1.1 billion towards supporting undocumented immigrants in New York City.
"It is important that we find a way to encourage new construction across the entire state," Hochul mentioned during her budget address, where she unveiled initiatives aimed at promoting more residential construction.
"It is interesting to note that in every other state that tackled the issue of building more homes, it took decades to see any progress." According to an additional Politico article, Hochul expressed a sense of urgency in addressing this crisis. By the way, according to a Zumper analysis, New York City has the highest rent costs in the country.
Actually, the rent in the city is approximately $1,000 higher per month compared to the second-highest city. According to the article, the monthly rent in New York City is $4,040. The next closest rent amount in Jersey City, New Jersey is $3,220.
