Op-Ed: To Combat Homelessness, Create a Fund to Repair Existing Housing

"A state-run preservation fund seeded with an initial $50 million that is replenished and increased would unlock a new funding stream and supplement the significant capital needed to maintain and make repairs so that supportive housing can be preserved and services can be offered in a safe, healthy environment for those most in need. Aging facilities are standing in the way.

Such a fund would directly affect thousands of lives across the state. As part of a broader renovation initiative, Volunteers of America-Greater New York was recently awarded a $960,000 grant from the Federal Home Loan Bank of New York to fund the replacement of aging structural beams at our Richard S. Salyer House—a 146-unit facility that provides permanent supportive housing to a mixed population of singles and families. Many in this population have aged in place and are now elderly, formerly homeless individuals.

These funding opportunities are a lifeline to organizations such as ours and, more important, for the vulnerable people whom we serve every day. We encourage our leaders in New York to expand these funding streams and preserve this important supportive housing portfolio in the city and across the state."

Read the full piece in Crain's New York Business (subscription required)