Trading your Pension to Fund Affordable Housing
WHAT!
Just when you think the left wing progressive branch of the Democratic party which is now the majority, couldn’t get any nuttier, these two classic bleeding heart progressive, lunatics Drew Warshaw and Raj Goyle are proposing using pension fund money to create affordable housing in NYC.
That’s right! A vote for one of these two train wrecks could mean NY state employees will pay for affordable housing with their pension contributions. And one thing we all know is that, the government and the leftist are great about wasting money. And when their plans fail, they always ask for more money to fix it. The NYS Comptroller does not control the NYCERS pension fund but if it happens to the NYS pension fund you better believe it will happen to the NYCERS fund next. Which is why Tom DiNapoli absolutely needs to be re-elected and is the one and only clear choice to remain the NYS Comptroller.
The below statements are taken right from their own websites.
“Drew will bring his personal experience taking on the housing crisis, as Chief Operating Officer and then as co-CEO of Enterprise Community Partners, where he led the largest affordable housing nonprofit in the nation to create and preserve more than 1 million affordable homes.
The Comptroller controls a $298 billion fund – and next-to-nothing is invested in solving New York’s affordable housing crisis.
Drew proposes launching the largest affordable housing fund in the United States by investing $20 billion from New York’s pension fund to build and preserve homes New Yorkers can actually afford where they live and work.
This approach will not only create a much-needed, currently nonexistent source of low-cost capital for affordable homes, helping to address the most acute challenge faced by working New Yorkers, it will also help to secure the futures of our dedicated public servants.”
“As Comptroller, I’ll redirect more pension capital to building housing right here in New York State — treating it as a core asset class that benefits New Yorkers while delivering solid returns. Every dollar we invest out of state is a dollar not working for New Yorkers. It’s time the pension fund built communities here, created jobs here, and helped families afford to stay here.”
Philip Valenti, President
