NY A03531

Establishes an affordable senior housing and services program administered by the housing trust fund corporation to provide payments, grants, and loans for creating, preserving, or improving rental housing for seniors over age 62.

Requires affordable senior housing properties to serve residents with household incomes at or below 80 percent of area median income, with at least 80 percent of residents meeting this income threshold.

Mandates that all affordable senior housing properties provide access to voluntary "healthy aging services" including meal coordination, transportation, health education, resident safety programs, and connections to community-based services.

Allocates 60 percent of annual program funds to urban areas and 40 percent to rural areas, as defined in existing housing finance law provisions.

Requires the housing trust fund corporation to suballocate funds to the office for the aging to provide competitive grants to not-for-profit organizations for delivering healthy aging services, prioritizing organizations with at least three years of experience serving eligible populations.