Mayor Bill de Blasio has included $5.7 million in the NYC preliminary budget, to fund a basement apartment pilot program, starting in East New York.
The funding would be used to bring basement apartments to code, as a way to increase affordable housing options in New York City, by 5,000 units.
The program, which will begin February 2018, would assist building owners with making their basement apartments legal living spaces, through subsidized basement conversion financing.
We will post updates as they become available.
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