Bill > A09088

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, renovation or rehabilitation of existing real property, and construction of new, permanently affordable housing. The authority will have the power to issue bonds, acquire property, and manage residential projects, with the goal of creating and preserving high-quality, permanently affordable housing statewide. The bill also includes provisions related to tenant rights and protections, resident democracy, procurement, and tax exemptions.