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Q&A
Council Member Ayala questions Commissioner Park about CityFHEPS funding and budget
1:29:50
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112 sec
Council Member Diana I. Ayala inquires about the additional funding for CityFHEPS in fiscal year 2025 and the reasons behind the budget increase. Commissioner Molly Wasow Park explains the rapid growth of the CityFHEPS program and provides specific budget figures for fiscal years 2024 and 2025.
- CityFHEPS now serves over 55,000 households, making it the second-largest rental subsidy program in the country after NYCHA's Section 8.
- The program has seen a fivefold increase in spending over four years due to program growth and rising rents.
- Specific budget figures: $833.7 million spent in FY 2024, and $907.5 million spent in FY 2025 through March.
Diana I. Ayala
1:29:50
So the executive plan includes an additional 170,600,000.0 in city funds for fiscal year twenty five.
1:29:58
This new need brings the total city fabs fiscal twenty twenty five budget to 1,270,000,000.00 yet the fiscal the budget in fiscal year twenty six and in the out years is currently approximately 540,000,000 less.
1:30:10
Why was the additional funding needed in fiscal year twenty five and how was this amount determined?
Molly Wasow Park
1:30:17
Thank you councilmember.
1:30:18
We've been very aggressively moving families and individuals out of shelter with CityFepps.
1:30:26
The CityFepps program is now over 55,000 households, which makes us the largest rental subsidy in the program in the country but for NYCHA's Section eight program.
1:30:38
Everybody else's Section eight program is smaller than we are.
1:30:42
The federal government has really abdicated its responsibility even before the current situation.
1:30:48
Federal government has really abdicated its responsibility to provide rental assistance, and the city has stepped in to do that.
1:30:54
So the rapid growth in the program has increased costs very rapidly.
1:30:59
As I think I mentioned earlier, we've seen a fivefold increase in spending in about four years.
1:31:05
That's largely driven by the growth in the program although also rents have gone up during that time period as well.
1:31:11
Okay.
Diana I. Ayala
1:31:17
How much of that fund has been spent to fiscal year twenty five on CityFabs and how much was spent in fiscal year twenty four?
Molly Wasow Park
1:31:29
In FY24 we spent 833,700,000.0.
1:31:35
In FY twenty five through March we spent 907,500,000.0.
Diana I. Ayala
1:31:40
9 hundred and 7 point 5 million, okay.