"The City Fighting Homelessness and Eviction Prevention Supplement (CityFHEPS) budget soared to $1.25 billion last fiscal year, a five-fold increase since 2021. The comptroller estimates it may break $2 billion when the next fiscal year ends in June. The rising cost of the program, "is a further indication that we have a homelessness crisis," said Christine Quinn, CEO of Women In Need (WIN) an organization that provides services to the homeless."
"Advocates say that housing New Yorkers with vouchers will actually save the city money compared to pricey shelter stays. "You can house people in shelters, which cost astronomically more than using vouchers to house the homeless, or you can help people get permanent homes where they and their children are likely to thrive for far less money housing someone with a voucher," said Quinn."
CityFHEPS costs have surged from 2021, reaching $1.25 billion last fiscal year and may exceed $2 billion by next June. The program serves over 65,000 households and is leasing up new voucher holders at record rates, making it the nation's second-largest voucher program. The accelerating expenses contribute to a significant fiscal shortfall in Mayor Zohran Mamdani's first city budget and complicate plans to expand eligibility to slightly higher incomes and eviction-risk households. Advocates contend vouchers save the city money compared with costly shelter stays. Some budget groups warn expansion at scale may be unaffordable.
Read at City Limits
Unable to calculate read time
Collection
[
|
...
]