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Commentary: Skip the IDA tax breaks and invest directly in affordable housing

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yesterday

Credit: Getty Images.

Scripture reminds us that “the laborer deserves to be paid” and that justice must “roll down like waters, and righteousness like an ever-flowing stream.” Yet here in New York, as families struggle for shelter, we are diverting scarce public dollars away from schools and children into programs that are ineffective in addressing a severe housing crisis.

Homelessness, evictions and rental prices are on the rise, and the rental vacancy rate is plummeting. Over 50% of New Yorkers, on average, in urban, suburban and rural parts of the state are paying more than 30% of their income on rent. Families across New York are crying out for help.

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New York has many tools at its disposal to address this crisis. Unfortunately, priority is too often given to one of the least effective and wasteful housing strategies: using Industrial Development Agencies (IDAs) to........

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