Syracuse, N.Y. — Syracuse Mayor Ben Walsh is facing skepticism from some city lawmakers over his proposal to establish a new public authority that would tackle housing market challenges.
At a Syracuse Common Council committee meeting held Monday, councilors told Walsh administration officials they want to see more details regarding a proposed housing trust that could lend or grant money for housing projects. Administration officials view the trust, which would be governed by an appointed board of directors, as a key tool in addressing the city’s shortage of safe and affordable residences.
Establishing the housing trust requires the council’s authorization, but several councilors expressed concern about how the new entity would be funded, saying a concrete plan for recurring revenue needs to be established.
“The worse thing we can do is create a government program that will run out of money,” said Councilor Pat Hogan, who chairs the economic development committee.
Administration officials are exploring several funding sources for the trust. The state has pledged $5 million for the city to use as seed money, and officials are looking for other “one-time infusions” to build on those funds such as the sale of real estate the city already owns, said Michelle Sczpanski, the city’s deputy commissioner of neighborhood development. But there also may be a need for funding out of the city’s annual budget.
Hogan asked if the Syracuse Industrial Development Agency could allocate some of its funds toward the trust. Sczpanski said there are discussions with that agency’s leadership about doing that. At this point, though, a budget for the trust is not known because that would largely be determined by its board of directors.
Councilor Rasheada Caldwell said she wants to know more about the parameters tied to the $5 million state grant.
“I’m really struggling with this,” she said. “We don’t know what the governor is going to come back and say.”
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