De Blasio restores $466M to housing capital budget

The de Blasio administration has backtracked on its plans to cut $1 billion from the city’s affordable housing budget. Mayor Bill de Blasio announced Thursday that $466 million would be restored to the Department of Housing Preservation and Development’s fiscal 2021 capital budget to “address urgent affordable housing needs.” In April, the mayor proposed cutting $583 million from fiscal 2020 and $457 million in 2021, as part of a broader attempt to address the city’s