Bill > S01398

This bill establishes the Block by Block Homeownership Program, which aims to address the shortage of affordable housing in upstate New York cities like Buffalo, Rochester, Syracuse, Albany, and Binghamton. The program, to be administered by the Division of Housing and Community Renewal, will provide capital subsidies to construct, preserve, and rehabilitate one- to two-family dwellings outside of New York City. The funding will prioritize development on vacant, abandoned, or underutilized municipal land, with dwellings to be sold exclusively to low and moderate-income individuals or families who do not own other real property and intend to use the home as their primary residence. The program includes restrictions to ensure that subsequent sales also target low and moderate-income buyers, helping to promote homeownership and generational wealth-building in these communities. Additional loans or grants can be used in conjunction with this program, providing flexibility in financing affordable housing development.

Budget and Finance, Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/S1398