New York State has secured international certification for nearly $100 million in new green bonds to be issued for affordable housing projects, Gov. Andrew Cuomo announced Tuesday.
Cuomo said New York is now the first state in the nation to have affordable housing bonds certified by The Climate Bond Standards Board on behalf of the Climate Bonds Initiative. New York State Homes and Community Renewal's Housing Finance Agency will issue the bonds under its new Green Bond program. The borrowing aims to create more than 640 affordable and green apartments to be built in Kings, Westchester, Monroe, and Orange counties.