Mayor: Help with housing for seniors, vets, low income

February 13, 2017 By Mary Frost Brooklyn Daily Eagle

Mayor Bill de Blasio introduced two initiatives to help seniors, veterans and low-income families with their rent. He is expected to outline more at his State of the City speech tonight in Harlem. Photo by Mary Frost

Share this:

Mayor Bill de Blasio announced on Friday two initiatives to help seniors, veterans and low-income families with their rent.

The first would increase by 10,000 the number of apartments in the Housing New York program, serving households earning less than $40,000. Half of these apartments will be dedicated to seniors, and 500 to veterans.

This move would increase the number of senior apartments to be built by 50 percent, from 10,000 to 15,000. The city is committing an additional $1.9 billion to this goal.

The second initiative is a new Elder Rent Assistance program that would be funded by the mayor’s proposed “mansion tax.”

A mansion tax would institute a 2.5 percent marginal tax on sales of homes over $2 million. (The additional 2.5 percent rate would only apply to the portion of the sale price that’s over the $2 million mark.)

The rent assistance would serve more than 25,000 seniors with monthly rental assistance of up to $1,300, the mayor said in a release.

There is no assurance that Albany would pass such a tax, however.

“This crisis is hitting seniors on fixed incomes, veterans and struggling families especially hard. We’re fighting for their right to live in this city,” de Blasio said.

He is expected to discuss the initiatives in his State of the City speech Monday night in Harlem.