NYC BUDGET: Mamdani, City Council reach $300M housing voucher deal on deadline day to finally end fiscal standoff

Mayor Zohran Mamdani and the City Council reached a $300 million agreement to expand housing voucher access, resolving a budget standoff over rental assistance. The deal allocates $175 million in FY2027 and $125 million starting FY2028 for a new rental assistance program administered by the Department of Housing Preservation and Development.