Establishes the affordable housing broadband assistance grant program within the division of broadband access to support no-cost and/or discounted subscriptions for households receiving federal, state, or local housing assistance or residing in housing units designated for low-income and/or vulnerable populations.
Provides for a partial exemption from taxation of certain residential real property transferred by a governmental entity, nonprofit housing organization, land bank or community land trust to low-income households; sets forth conditions for the discontinuance of such exemption.
Establishes the shovel-ready housing program under which certain municipalities, at their option, may pre-authorize parcels of property for the construction of housing; establishes a shovel-ready community tax rebate for taxpayers residing in municipalities that opt-in to the shovel-ready housing program; provides for annual apportionment to municipalities that have certified participation in the shovel-ready housing program.
This bill establishes a state program providing grants of up to $75,000 per unit to owners of small rental buildings (five or fewer units) located outside New York City. The program targets vacant units or those with code violations, requiring owners to renovate and lease units at affordable rates - defined as 80% of area median income - for a minimum of ten years. Owners who violate the affordability agreement must repay all grants received. The program aims to address upstate New York's shortage of safe, affordable housing by incentivizing property improvements while ensuring long-term tenant affordability.
This bill establishes a 13-member insurance and housing task force in New York to address rising insurance costs for affordable housing. The task force, co-chaired by the Superintendent of Financial Services and the Commissioner of Homes and Community Renewal, will assess insurance availability, pricing, and coverage barriers for affordable and multifamily housing owners and developers. It will evaluate reinsurance, claim trends, and market barriers, then recommend specific statutory, regulatory, or program changes within 18 months. The task force expires after three years and will publish interim and final reports with actionable recommendations to improve insurance access for this housing sector.
Bill A 802 creates a mandatory four-year waiting period before Mitchell-Lama housing cooperative shareholders can vote again on dissolving their building after a failed dissolution vote. It directly affects all shareholders in Mitchell-Lama buildings across New York State by preventing repeated votes on ending their cooperative status. The law requires a minimum four-year pause, though local governments may adopt stricter rules if they choose. This policy change aims to provide stability for affordable housing communities by limiting frequent dissolution attempts.
This bill amends oversight procedures for limited profit housing companies operating state- or municipally-aided projects. It clarifies when the housing commissioner or local supervising agency can intervene if a company fails to follow laws, endangers public interest, or harms tenants, lienholders, or investors. Key provisions require agencies to file a court petition to stop violations or appoint a court manager (receiver) if needed, with the company given 20 days to respond. The court must then quickly review the case without strict legal formalities and can issue orders or appoint a manager to protect affected parties. This directly affects housing companies, their tenants, and financial stakeholders involved in subsidized housing projects.
Relates to the purchase of community land mortgages; defines a community land mortgage as a mortgage that is secured by a first lien on a leasehold estate in real property that is improved by a residential structure wherein title to the real property is retained by a not-for-profit housing company or housing development fund company; authorizes the state of New York mortgage agency to purchase community land mortgages from banks within the state; ensures not-for-profit housing remains as affordable housing.
Requires rent concessions to be reported to the division of housing and community renewal; requires the inclusion of a statement of net effective rent for units with concessions; requires certain annual statements filed to include reporting of rent concessions.
Requires out-of-state affordable housing owners to maintain an escrow account for the purpose of financing utility costs, property tax obligations, fire services, and regular maintenance costs for affordable housing rental units located in New York state.
