From the Morning Memo:

A plan that would existing state rent support for a new rental supplement with the goal of bridging the gap in subsidies and fair market rents is being backed by the members of the Black, Puerto Rican, Hispanic and Asian Legislative Caucus, according to a letter sent on Wednesday to Gov. Andrew Cuomo.

In the letter, lawmakers urge funding for the program be approved.

“This is by far the most cost-effective solution for preventing homelessness and it requires Executive action to replace the current failing patchwork of local programs that reach only a small fraction of those in need,” the lawmakers wrote in the letter.

The backing by the caucus comes the same week as the United Federation of Teachers endorsed the plan, which would be phased in over the next five years, including $40 million in the first year. The money would be used to provide subsidies to rental costs up to 85 percent of fair market rent.

Caucus Support – HSS by Nick Reisman on Scribd