Bill > S07995

This bill authorizes Ulster County to establish an affordable housing fund to address housing challenges through various targeted initiatives. The fund can be created by local law and funded through multiple revenue sources, including county funds, proceeds from affordable housing sales or rentals, and up to 25% of hotel and motel room occupancy tax revenues. The fund's purposes include producing affordable housing for sale or rental, creating emergency and supportive housing, rehabilitating existing buildings for housing conversion, acquiring property interests, and providing housing counseling services. Affordable housing is defined as housing for individuals or families with incomes up to 80% of the area median income, where occupants pay no more than 30% of their gross income for housing costs. The bill requires the county to establish an advisory board, develop a comprehensive housing plan that ensures equitable distribution of housing opportunities across communities, and maintains affordability over time. The fund will be managed by the county's finance commissioner, kept in a separate account, and is set to expire after 30 years unless extended through a local law approved by mandatory referendum. The housing plan must be updated at least every five years and adhere to smart growth public infrastructure criteria, with a focus on preventing undue concentration of housing in any single community.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S7995