Establishes the pro-housing communities incentive fund to provide incentive payments to municipalities based on the number of eligible new housing units produced within such municipality.
Limits the liability of low-income housing providers who receive government assistance; establishes a temporary insurance stabilization program for such entities.
Permits libraries occupying or possessing public land to develop, lease, or use such property for the purposes of constructing affordable, mixed-use housing; provides that such use aligns with libraries' educational purposes, represents a valid exercise of the trustees' power, and is in the best interests of the libraries.
Authorizes cities and towns, except a city with a population of one million or more, to establish community housing funds; authorizes such cities and towns to impose a real estate transfer tax with revenues to be deposited in such funds; makes related provisions.
Establishes the block by block homeownership program to provide capital subsidies for the purpose of constructing, preserving, and rehabilitating one- to two- family dwellings throughout the state, outside of NYC.
Requires community median income be used by certain affordable housing programs in a city having a population of one million or more; requires affordable housing programs using state funding to cover 33 percent or more of the construction costs of a building or buildings to use community median income to determine income eligibility and rent levels; exempts programs utilizing federal funding.
This bill allows owners of low-income housing tax credits to transfer those credits to other people or entities multiple times, rather than being limited to a single transfer. The changes apply to taxpayers who own interests in eligible low-income buildings and enable transferees to use the credits against their taxes if they meet all requirements. Each transfer must be properly documented and approved by the relevant agency, and it cannot affect the eligibility of the underlying housing project for program benefits. The law takes effect immediately and applies to all low-income housing tax credits allocated before, during, or after the effective date.
Establishes a subpart to hear eviction matters related to affordable housing providers and small landlords; provides a subpart shall be in each borough of the city of New York; defines terms.
Provides for the eligibility of certain households for a care workforce housing preference; provides for the method of application for such preference; makes related provisions.
This bill modifies New York State's real property tax law to allow property owners of affordable housing buildings to receive tax reductions for making specific repairs and improvements that maintain the habitability of their units. It directly affects owners of multi-unit rental buildings, condominiums, cooperatives, and mutual housing companies that meet certain income and affordability requirements. To qualify, buildings must have at least three units, and owners must obtain a certificate from their local housing agency confirming the project's eligibility and cost limits, with improvements needing to be completed within a thirty-month window. The tax abatement is tied to a certified reasonable cost schedule that sets maximum dollar limits for approved alterations, ensuring funds are used for essential maintenance rather than expansion.