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NY A01408
Bill
Status
Introduced
1/11/2021
Primary Sponsor
Gary Pretlow
Click for details
AI Summary
- Amends the Private Housing Finance Law to add a new per dwelling unit limitation of $25,000 for affordable housing projects in Yonkers
- The $25,000 limit applies to new construction of affordable housing and acquisition of existing housing stock cooperatives, condominiums, and fee simple multi-family housing within Yonkers
- Establishes this $25,000 per unit cap as an alternative to the existing $35,000 standard limit or $40,000 high-cost project limit
- Authorizes the corporation to enter into contracts with eligible applicants to provide grants for affordable home ownership development programs using funds from the affordable housing development account
- Takes effect immediately upon enactment
Legislative Description
Makes provisions with respect to affordable housing within the city of Yonkers; provides funds of twenty-five thousand dollars in the affordable housing development account for new construction of affordable housing within the city of Yonkers and acquisition of existing housing stock cooperatives, condominiums and fee simple multi-family housing where appropriate.
Last Action
referred to housing
1/5/2022
Committee Referrals
Housing1/11/2021
Full Bill Text
No bill text available