Crowley Delivers Millions For NYC Housing

Congressman Joseph Crowley was in triumph when the Committee on Financial Services approved a number of bills for consideration by the House of Representatives, including the American Dream Downpayment Assistance Act, which he sponsored.
According to Crowley, the legislation authorizes the Department of Housing and Urban Development (HUD) to provide annual grants of $200 million over the next two years to help first-time homebuyers with downpayment and closing costs.
"This legislative victory will ensure that New York City will receive its fair share of funding under this bill," Crowley said. "As the bill was originally drafted, it could be construed as to deny New York City anywhere from $8 million to $16 million annually for the city."
The committee also approved an amendment to allow localities, such as New York City, to use the new grant funds to help municipal employees, such as police officers, firefighters and teachers, buy homes in the communities they serve.
"As the son of a policeman, and the relative of several New York City cops and firefighters, I understand on both a policy level and a personal level the importance of this amendment. Now, we have the opportunity to provide them tangible benefits in a bi-partisan way."