Allocate $70 Billion To Housing Capital Plan

Increase the City’s housing capital budget by adding $70 billion in new funding to the Ten-Year Capital Plan.

Date Promised

February 3, 2025

Owner Agency

Office of Management and Budget

Requires State Action

Yes

Last updated: January 2, 2026

Overview

• The city proposes adding $70 billion in new capital funds to the Ten-Year Capital Plan to support affordable housing production.
• The proposal would bring total planned housing capital investment to $100 billion over ten years.
• The funding would be raised through municipal bonds and requires state approval to increase the city’s debt limit.