Bill > A04544

This bill amends the Private Housing Finance Law to provide $25,000 in funding from the Affordable Housing Development Account for new construction of affordable housing and acquisition of existing housing cooperatives, condominiums, and multi-family homes within the city of Yonkers. The bill also increases the per-dwelling unit funding limit for high-cost projects or projects receiving federal Farmers Home Administration loans from $50,000 to $75,000. Additionally, the bill specifies that no more than 50% of the total annual appropriation under this program can be allocated to homes within a single municipality.