City Council Speaker Adrienne Adams presented a plan aiming to establish a guaranteed income program for homeless families and youth in New York City, working to combat poverty among vulnerable groups. The initiative would grant an initial payment of $2500, followed by decreasing monthly payments starting from $1000, targeting around 21,500 individuals, including families with homeless children and youth transitioning out of foster care. This $430 million proposal will be funded through bonds and private partnerships, building on existing support programs in the city.
This ambitious plan aims to provide crucial financial support to over 21,000 homeless families and youth in New York City, ultimately seeking to reduce poverty.
Funding for this initiative, amounting to $430 million, will be generated through a combination of bonds and private partnerships, reflecting a collaborative approach to tackling homelessness.
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