NY S08725

Extends the expiration date for urban development action area project exemptions from June 30, 2018 to June 30, 2021 in three sections of the General Municipal Law (sections 693, 694, and 695)

Allows up to six urban development action area projects per calendar year to construct up to 90 federally-financed dwelling units restricted to elderly or disabled occupants without requiring area designation or land use changes until June 30, 2021

Permits waiver of area designation requirements and land use standards for projects involving rehabilitation of existing dwellings, construction of one to four unit dwellings, or the specified elderly/disabled housing projects through the extended date

Takes effect immediately, with retroactive applicability to June 30, 2018 if enacted after that date