Bill > S08494

This bill establishes the New York State social housing development authority as a public benefit corporation to increase the supply of permanently affordable housing in the state through the acquisition of land and renovation or rehabilitation of existing real property, and through the construction of new, permanently affordable housing. The bill sets forth the powers and duties of the authority, including the ability to acquire property, enter into contracts, issue bonds and notes, and manage housing projects. The bill also includes provisions related to tenant rights and protections, resident democracy, procurement, and tax exemptions.