Bill > A03996

This bill, known as the "Jobs and Housing Act," aims to address New York's housing and jobs crisis by establishing a pilot program administered by the Private Housing Finance Agency (referred to as the "Agency"). The program will fund the construction and preservation of housing, including "workforce housing" (housing affordable to low and moderate-income individuals), and simultaneously create jobs for those involved in building and maintaining this housing. To qualify for funding, projects must demonstrate a commitment to using contractors from registered apprenticeship programs and ensure that all construction work adheres to prevailing wage laws, meaning workers are paid a standard wage for their labor in that area. Additionally, building service employees, such as janitors and doormen, must also receive prevailing wages. The bill also encourages projects to seek financing from labor union pension funds. The Division of Housing and Community Renewal will be required to report on the program's progress and outcomes three years after its implementation.