The New York City Council voted on Thursday on legislation that will require developers of large housing projects receiving financial assistance from the City to allocate 15 percent of the units for individuals and families experiencing homelessness. As New York City continues to face a homelessness crisis, this legislation is designed to move more New Yorkers into stable and permanent housing.
This legislation will apply to new rental buildings that have more than 40 units, and will make New York City the first large city in the country to require developers to set aside housing for individuals and families experiencing homelessness. This bill would go into effect in July 2020.
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