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.
Relates to the conversion to condominium ownership for the preservation of expiring affordable housing in the city of New York; provides expanded homeownership opportunities from the conversion of certain residential rental buildings to condominium status by property owners that commit to preserve the inventory of expiring affordable housing in the city of New York.
Relates to conversions of real property in public housing developments in relation to the RAD program; sets notice requirements for public housing authorities.
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.
Directs the housing trust fund corporation to administer a New York small cities community development program to encourage the rehabilitation and repair of local housing in cities, as accounted in the most recent United State census, with a population less than one hundred thousand.
Establishes the manufactured home community preservation act to provide financial and technical assistance, within funds available to counties, municipalities, rural preservation companies, and other non-profit housing organizations for their housing preservation efforts; provides that funds in the mortgage insurance fund can be used to provide financial support to local governments and eligible non-profit housing organizations.
Requires municipalities to determine whether it is in the public interest to create a comprehensive plan adapted to the special requirements of the municipality and to determine whether it is in the public interest to update such comprehensive plan at least once every ten years to ensure that such plan addresses housing needs.
This bill adds broadband access as a scoring factor in New York State's low-income housing tax credit program. It requires housing projects applying for tax credits to commit to using end-to-end fiber-optic broadband infrastructure to receive preference during application evaluation. The change directly affects developers seeking low-income housing tax credits by making fiber broadband access a key consideration in project rankings. The policy update modifies how projects are scored but does not mandate broadband installation, only prioritizing applications that commit to it.
Establishes an optional local tax exemption for affordable multi-family housing, to be implemented by cities, towns and villages based on recommendations developed by the division of housing and community renewal for each economic development region.
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.
