Bill > A05655

This bill establishes a Mobile and Manufactured Home Replacement Program to help low-income homeowners replace older, dilapidated mobile and manufactured homes with new, energy-efficient homes. The program, administered by the Housing Trust Fund Corporation, will provide 100% grants (in the form of deferred payment loans) to eligible property owners whose household income is at or below 80% of the area median income. Eligible applicants include local governments and non-profit organizations with substantial affordable housing experience. Grants will cover the costs of purchasing a new manufactured, modular, or site-built home, as well as provide relocation assistance and funds for demolishing the old home. Each grant contract is limited to $200,000 and must be completed within four years. Homeowners must attend homeownership training and will have a 10-year declining balance lien on the property. If the home is sold before the regulatory term expires, funds will be recaptured from the sale proceeds, unless an income-eligible family member takes ownership. The corporation will submit an annual report to the legislature detailing the program's implementation and awards.

Budget and Finance, Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/A5655