An NYLCV member received this letter [0] from State Senator Liz Krueger, who represents the 26th District in Manhattan, explaining her vote against the Environmental Protection Fund (EPF) Expansion Act. Among environmental groups, including NYLCV, the bill was widely viewed as one of the major successes of the session.
The bill that passed calls for more Real Estate Transfer Tax (RETT) revenues to be directed toward the EPF. In her letter, Krueger says directing more RETT money toward the EPF would mean a loss for affordable housing initiatives and promoting smart growth. She believes the Bigger, Better, Bottle Bill is a better approach to funding both the EPF and affordable housing projects.
Since its creation in 1993, the EPF has successfully funded projects that improve New Yorker's air and water quality, protect open space and farmland, research public health problems such as breast cancer, help water fronts, create parks and fund smart growth projects. However, due to high demand for EPF money, the dedicated fund does not have the resources to adequately preserve the environment, to improve communities, or to protect New Yorkers' health.