Posted on: October 06, 2025 06:01 PM

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Next municipal bond announced in NYC

The NYC Mayor announced the next round of municipal bonds to raise $460 million for around 2,200 affordable housing projects. This is the fourth round and soon more rounds will be announced.

The bond is a simple operation. People buy bonds from a licensed brokerage firm at a full value and then get small tiny measly dividends on a regular basis which must be reported to the IRS as income. It's a recycling process with taxpayer funds to increase more capital for city's housing projects all over to add more units by developers.

The same with statewide to raise more capital for various projects since both city and state does not have enough to go around to please all in need of money from taxpayers. Pleasing for those who helped the local elected officials with victories.

So far this year, 29,000 units under affordable housing were completed and last year reported around 16,000.

The average cost is $1 billion per 10,000 affordable units for developers. According to the Mayor's office, 1 in 220 wins the housing lottery and out of that, only 15 qualify to move to the next round until final approval.