MGS is Monitoring Developments on Gov. Hochul’s Housing Compact
For many years, MGS has advised its municipal and commercial clients on housing issues, including affordable housing and Fair Housing Act requirements. We have been closely monitoring developments in NYS Governor Hochul’s Proposed Housing Compact to build 800,000 new homes statewide in the next decade.
As promised in our previous message, we are taking this opportunity to update you on the latest developments.
The Executive Budget and related Legislative measures, including the Housing Compact, will soon undergo formal negotiation and amendment. On February 15, 2023, the Joint Fiscal Committee held a public hearing on the Executive Budget as it relates to local governments.
Representatives from municipal government and organizations including the Nassau County Village Officials Association (“NCVOA”) and the New York State Conference of Mayors and Municipal Officials (“NYCOM”) offered comments on the Housing Compact’s impact on local control over housing development.
A Joint Legislative public hearing on the housing budget was also held on March 1st. Locally, the Westchester Municipal Officials Association Housing Committee Subcommittee on Housing submitted a letter to the Governor supporting the need for new housing in the region but pointing out issues with the Housing Compact in its current form and making recommendations for modifications. The letter was signed onto by the Mayors or Supervisors of 32 Westchester Municipalities.
The Governor released her 30-day amendments to the Executive Budget on March 3rd. These amendments mainly corrected unclear language and resulted in non-substantive changes to the Housing Compact Proposal. After weeks of joint budget hearings and meetings with various stakeholders, the New York State Senate and Assembly are currently preparing their one-house budget proposals, which accept, reject, or modify the proposals contained in the Governor’s budget and add priority issues for each respective house.
The one-house budget proposals will be issued the week of March 13 and will reveal the Legislature’s sentiment surrounding the Housing Compact and could result in significant changes to the Governor’s proposal.
Once both houses have voted on their respective budget bill, formal budget negotiations will begin. The New York State Constitution mandates an April 1 deadline to pass the budget. Therefore, the Senate, Assembly, and Governor will meet immediately to reconcile their budgets by this constitutional deadline.
MGS is monitoring the budgetary process closely and will continue to provide updates as they relate to the Housing Compact once the one-house budget proposals are released next week.