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Bill > A04341
NY A04341
NY A04341Relates to affordable housing corporation grants by increasing the amount that can be granted to a high cost project.
summary
Introduced
02/01/2021
02/01/2021
In Committee
06/02/2021
06/02/2021
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
Relates to affordable housing corporation grants by increasing the amount that can be granted to a high cost project.
AI Summary
This bill amends the Private Housing Finance Law to increase the maximum amount of grants that the Affordable Housing Corporation can provide for high-cost affordable housing projects. Specifically, it raises the per-unit grant limit from $40,000 to up to $75,000 for high-cost projects. The bill also allows grantees to establish long-term resale restrictions, such as through community land trusts or limited-equity cooperatives, on units receiving more than $40,000 in grant funding. Additionally, the bill requires the Corporation to establish tiered funding levels based on the length and depth of affordability for the projects.
Committee Categories
Budget and Finance, Housing and Urban Affairs
Sponsors (20)
Andrew Hevesi (D)*,
Latrice Walker (D)*,
Jeffrion Aubry (D),
Charles Barron (D),
Rodneyse Bichotte Hermelyn (D),
William Colton (D),
Vivian Cook (D),
Catalina Cruz (D),
Carmen De La Rosa (D),
Inez Dickens (D),
Steven Englebright (D),
Harvey Epstein (D),
Kimberly Jean-Pierre (D),
Yuh-Line Niou (D),
N. Nick Perry (D),
Robert Rodriguez (D),
Jo Anne Simon (D),
Al Taylor (D),
Jaime Williams (D),
Stefani Zinerman (D),
Last Action
substituted by s3372 (on 06/02/2021)
Official Document
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