This bill increases the New York City Housing Development Corporation's (NYCHDC) bonding authority from $19 billion to $20 billion, allowing it to issue more bonds for affordable housing projects. The key change modifies the legal limit on outstanding bonds, directly affecting NYCHDC's ability to finance new housing developments and renovations. The amendment clarifies the calculation for determining the bonding limit while maintaining reserve fund requirements. This is a straightforward financial authorization change with no new program requirements or eligibility rules.
This bill creates a New York State Affordable Housing Czar, who will lead a centralized office within the state housing division to coordinate all housing initiatives. The Czar must develop a state housing plan, create a public website for housing applications, monitor developer compliance with housing mandates, and serve as an ombudsman for residents seeking subsidized housing. It also establishes a 10-member volunteer task force (appointed by legislative leaders) to study affordable housing and submit recommendations to the legislature within one year. The bill directly affects New York residents seeking housing, landlords, developers, and state agencies managing housing programs. It takes effect 90 days after enactment.
Prohibits persons whose income is greater than one hundred twenty-five percent of the area median income from occupying certain housing accommodations.
S 23 expands an existing tax credit for farmers to include the cost of constructing housing for farm workers. This change directly affects farmers who build residential housing for their employees, allowing them to claim the credit for construction materials and labor. The bill amends tax law to explicitly add "construction of residential housing occupied by farm workers" to the list of eligible expenses under the credit, which previously covered farm-related equipment and property. Farmers must still meet other requirements, such as property situs in the state and use in farming operations.
Requires each town, village, and city to develop a "housing action plan for everyone", including consideration of local needs and specific strategies to address those local needs.
Directs the commissioner of the New York state division of housing and community renewal to promulgate rules and regulations to provide a taxpayer or entity having applied for the low-income housing tax credit and certified by the division of housing and community renewal with a notice of placement on a waiting list upon the submission of a completed application.
Requires each town, village, and city to develop a "housing action plan for everyone", including consideration of local needs and specific strategies to address those local needs.
Establishes a housing project revolving loan program and housing project revolving loan fund to encourage the development of mixed income housing by providing zero-percent interest or low-interest loans.
Directs the commissioner of housing and community renewal, in consultation with the director of the budget and the commissioner of taxation and finance, to conduct a study to examine the efficacy of the creation of a statewide affordable housing agency whose sole mission is to directly build affordable housing utilizing state funds and employing residents of the state to accomplish such construction of affordable housing.
Establishes the historic preservation tax credit transfer program to provide flexibility and incentives for businesses which rehabilitate historic properties to further promote the development of affordable housing.
