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The Capital Region is experiencing a crisis of affordable housing, and the need for an increased investment in housing solutions has never been more pressing. In the context of rising rent prices, stagnant wages, and increasing demand for housing, the Albany County Legislature approved $1,000,000 towards a housing trust fund in this year’s budget. While a laudable step forward, this amount of funding is woefully inadequate. An increased investment in Albany County’s housing trust fund would be an important way to help stabilize our current housing crisis.
Investments in housing trust funds have real impacts in preserving and creating new affordable housing. Funding can go toward building new affordable housing units, renovating existing properties and providing financial assistance to low-income........