HUD to Schumer: "No Worries!"
New York's Senior US Senator was in Troy Monday, pledging to fight possible federal cutbacks in Department of Housing and Urban Development funding to the city - the battle cry may be moot.
Senator Chuck Schumer voiced concerns that Collar City census figures dropped below 50,000 residents, it could lose Community Development Block Program funds earmarked for neighborhood improvements. "It would deprive Troy of about $2.5 million in CDBG funds each year, and that would de-leverage and reduce private funding by millions and millions more."
HUD's Olga Alvarez doesn't think the Senator and the citizens have anything to worry about. "Troy is a principal city. Once it's an entitlement community it will always a remain an entitlement community, so it’s really not at risk of losing its funding."
HUD will be tweaking the CDBG program but Alvarez says its unlikely those changes will affect Troy.