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NY S00802
Bill
Status
1/5/2011
Primary Sponsor
Catharine Young
Click for details
AI Summary
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Establishes a tax increment financing (TIF) program in New York State designed to reduce affordable housing development costs
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Authorizes issuance of general obligation bonds, special obligation bonds, and temporary anticipation notes to fund the program
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Grants the Division of Housing and Community Renewal authority to provide technical assistance to municipalities for site selection, financial packaging, and engineering/architectural services
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Enables municipalities to participate in the program with state support for project planning and preparation
Legislative Description
Creates and provides for a tax increment financing program as a method of reducing the cost of affordable housing in NYS; authorizes issuance of general and special obligation bonds and temporary anticipation notes; authorizes division of housing and community renewal to provide technical services and assistance to municipalities with regard to site selection, financial packaging, and engineering and architectural services necessary for the preparation of project plans.
Last Action
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
1/5/2011