Enacts the "sustainable affordable housing and sprawl prevention act"; exempts or limits environmental review under SEQR for the construction of certain new residential units to avoid creating unnecessary housing sprawl; limits certain rights to action under SEQR; makes related provisions.
Establishes a tax credit for rent paid on the personal residence of certain taxpayers who lease the taxpayer's primary residence during the taxable year and who pay rent with respect to such residence in excess of thirty percent of such taxpayer's gross income for such taxable year whose income is less than fifty percent of the area median income.
Includes mixed residential and commercial property within the provisions of the affordable home ownership development program thus authorizing the affordable housing corporation to fund the construction or rehabilitation of housing that also contains a commercial retailing business.
Enacts the "faith-based affordable housing act" for development on residential land; defines terms; provides that each village, town, and city shall allow the construction and occupation of residential buildings on any covered site up to the specified densities; provides that all residential buildings constructed pursuant to this section in a town, village, or city with fewer than one million inhabitants shall set aside twenty percent of the residential floor area for households earning an average of eighty percent of area median income; outlines the densities for New York city; makes related provisions.
Enacts the housing development fund company fairness, preservation, and affordability act to clarify certain provisions relating to the dissolution and reincorporation of housing development fund companies; provides for tax exemptions and abatements for housing development fund companies.
Provides preferences in contracts under the affordable home ownership program to police officers, teachers and firefighters who live in the municipality or school district in which they work; defines relevant terms.
Establishes rental vouchers for working families; provides definitions; allows for families to make an application for rental vouchers at the appropriate social services district or any facilitated enrollment site authorized by the office of temporary and disability assistance; sets forth eligibility requirements.
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.
Establishes the Adirondack park affordable housing task force; requires such task force to conduct a comprehensive review of affordable housing issues within the Adirondack park and to make recommendations for addressing such issues.
This bill increases the New York State Housing Finance Agency's borrowing limit to $36.28 billion for housing-related bonds. It directly affects the agency and future housing finance programs, allowing it to issue more bonds to fund affordable housing developments, renovations, and related projects. The key provision raises the existing cap from $31 billion to $36.28 billion, expanding the agency's capacity to finance housing without changing the types of projects it supports. This is a straightforward funding authorization, not a new program or policy change.
