State of the State: Triborough to be RFK; $400 M. Housing Fund

In his state of the state address this afternoon, Governor Spitzer announced his intention to create a fund of $400 million for the creation of affordable housing, part of an effort to mitigate the rising cost of living throughout the city and metro region.

“Today millions of New York City residents are paying an unreasonable share of their incomes on rent,” Mr. Spitzer said.

And paying homage to the late New York Senator Robert F. Kennedy, the governor also pledged to rename the Robert Moses-built Triborough Bridge in his honor.

Facing a multi-billion-dollar deficit for the upcoming fiscal year, the governor filled his speech with a bunch of other proposals related to economic development, including the creation of a $4 billion endowment for the state higher education system, a $1 billion fund for economic development upstate, and an expansion of the children’s health insurance program, among others.