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NYC Companies Pledge $8 Million to Tackle Homelessness Crisis

  • JPMorgan, Pfizer, Hearst among contributors to program
  • City struggling with persistently high levels of homelessness
Eric Adams
Eric AdamsPhotographer: Jeenah Moon/Bloomberg

More than 60 businesses ranging from JPMorgan Chase & Co. and Pfizer Inc. to Silvercup Studios are joining forces with New York City to fund an $8 million public-private partnership aimed at tackling the homelessness crisis, Mayor Eric Adams said.

The partnership, called the Homeless Assistance Fund, will expand on the city’s already existing efforts to provide services to people living on the streets or experiencing mental illness. It will fund new outreach teams for the nonprofit homeless-services provider Breaking Ground, Adams said at a briefing on Tuesday. Those teams are expected to be operating by fall, he said.