Enacts the "Livable New York act" to fight back against climate change, provide additional affordable housing and provide employment opportunities for formerly incarcerated individuals; makes a three billion dollar appropriation therefor.
This bill increases tax credits for developers redeveloping brownfield sites (abandoned industrial properties with potential contamination). It sets tiered credit limits: $35 million for standard sites, $45 million for manufacturing sites, and $70 million for "qualified project sites" meeting specific criteria. To qualify for the highest credit, projects must be in cities under 100,000 population, include affordable housing (25% of units), have transportation access, and exceed $250 million in total project value. These changes directly affect developers of qualifying brownfield sites who meet all criteria for enhanced tax incentives.
This bill amends New York's labor law to clarify which private construction projects must follow prevailing wage rules when using public funds. It defines "covered projects" as those where public funds make up at least 20% of total costs (over $5 million) or $3 million+ in public funds. The law excludes single-family homes, small nonprofits, and certain affordable housing projects (like those with 25%+ affordable units under 15-year agreements) from these requirements. It also specifies that tax benefits, loan savings, and some public subsidies do not count as "public funds" for this purpose.
Relates to affordable housing for persons with a disability or having attained the age of sixty-two; establishes a developmentally disabled and elderly adult accessory apartment loan program.
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.
This bill establishes a community housing fund in Rochester to provide affordable housing opportunities for residents. It offers financial assistance (up to 50% of a home's purchase price) to first-time homebuyers who live in or work for the town and have household incomes at or below 100% of Ulster County's state-set low-income threshold. The fund can also be used to build, rehabilitate, or rent affordable housing units for eligible residents, financed through local taxes, grants, and other town revenues. An advisory board of community representatives will oversee the fund's operations and ensure compliance with affordability guidelines.
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.
Establishes the "tenant opportunity to purchase act"; prevents the displacement of middle and lower-income tenants in New York and preserves affordable housing by providing an opportunity for tenants to own or remain renters in the properties in which they reside.
Authorizes the county of Ulster to establish an affordable housing fund to provide financial assistance to first-time homebuyers, production of affordable housing, emergency housing, or supportive housing for sale or rent, rehabilitation of existing buildings for conversion to affordable housing, emergency housing, or supportive housing, acquisition of interests in real property in existing housing units, and the provision of housing counseling services.
Establishes a tax rebate program for rent-stabilized housing that targets buildings with individually occupied rent-stabilized apartments where the property tax burden significantly exceeds rental income.
