The Westchester County Industrial Development Agency (IDA) recently presented its innovative Housing Flex Fund Program at the Rockefeller Institute of Government’s 2025 Local Government Lab: A Forum for New York State Researchers, Practitioners, and Policymakers that took place in person on Thursday, May 1, in Albany, New York.
“We are proud to have been selected to share the innovative program that we have launched in Westchester County to address one of the state’s most urgent challenges, which is affordable housing,” said Joan McDonald, Director of Operations for Westchester County and Chairperson of the Westchester County IDA. “The Housing Flex Fund Program, the first-of-its-kind in the state and country, is a model for how government can move quickly and collaboratively to meet community needs by making stalled developments viable again.”
Emily Saltzman, Deputy Director of Operations for Westchester County Executive, delivered Westchester’s presentation, titled “The Affordable Housing Flex Fund: Westchester County’s Innovative Financing Program.” It spotlighted the creation and administration of this innovative program. Through the Housing Flex Fund Program, the Westchester County IDA has deployed $90 million in flexible financing, funded through the American Rescue Plan Act (ARPA), to unlock shovel-ready affordable housing developments across the county.
The Rockefeller Institute of Government, established in 1981, serves as the public policy research arm of the State University of New York. The Local Government Lab is part of the Rockefeller Institute’s mission to bridge the gap between public policy research and practice, convening local officials and experts from across New York to share ideas, examine pressing issues, and highlight successful government innovations.
The Flex Fund program directly addresses the barriers that often stall housing projects, including rising construction costs, financing gaps, and high land development expenses. By providing gap financing for Low-Income Housing Tax Credit developments and adaptive reuse projects, the program has already enabled 412 affordable units to move forward in six Westchester communities. Developments range from large-scale family rentals, such as the 253-unit project at 115 South MacQuesten Parkway in Mount Vernon, to senior housing transformations like the 73-unit Ossining conversion.
With all funds awarded in 2024, the program is set to deliver almost 2,000 affordable units for individuals and families earning 65% of Area Median Income (AMI) or less. The initiative exemplifies how local, state, and federal collaboration can lead to meaningful, long-term solutions to New York’s housing crisis.
Westchester’s participation in the Local Government Lab panel, “The Challenges of Affordable and Adequate Housing: Views from Around the Empire State,” reflects the growing recognition of the County’s leadership in housing finance innovation.
For more information about Westchester County’s Housing Flex Fund program, visit Housing Flex Fund (westchestergov.com)
