Statement of CPC President & CEO Rafael E. Cestero on Governor Cuomo’s Signing of Affordable Housing MOU

September 14, 2016

“I want to thank Governor Cuomo for his ongoing leadership and commitment to New York State. Earlier this year the Governor proposed an ambitious housing agenda that committed an unprecedented level of state resources to address the affordable housing and homelessness crises facing our great state.

Today the Governor has taken the critical step of signing the MOU that will release an initial $2 billion in funding, allowing the Administration to turn its focus towards implementing its 100,000 unit plan. The MOU the Governor signed is good for all of New York State’s neighborhoods. From Brooklyn to Buffalo, these dollars will make communities better and improve the lives of the neediest New Yorkers.

The Governor’s commitment has put New York State at the forefront of the most urgent housing issues we face today. I call on Senate Majority Leader Flanagan and Assembly Speaker Heastie to follow the Governor’s lead and sign the MOU without delay so that we can advance this important housing agenda and keep New York State moving forward.

I look forward to CPC’s continued partnership with the State, and to working together to help execute the Governor’s plans to bring stable housing to all corners of New York.”

Rafael E. Cestero, President & CEO, The Community Preservation Corporation

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About the Community Preservation Corporation (CPC)

Established in 1974, CPC is a nonprofit affordable housing and community revitalization finance company that believes housing is central to transforming underserved neighborhoods into thriving and vibrant communities. We provide innovative capital solutions, fresh thinking and a collaborative approach to the often complex challenges that owners and developers of multifamily housing face. To date, CPC has leveraged approximately $9.7 billion in private and public investment to finance more than 170,660 units of housing. Our work with our partners has helped revitalize countless neighborhoods throughout New York, and provided quality housing for families, senior citizens, and individuals with disabilities. Follow us at, and on Facebook, Twitter  and LinkedIn.