Loading chat...
NY A05631
Bill
Status
2/22/2021
Primary Sponsor
Michael Fitzpatrick
Click for details
AI Summary
-
Amends the definition of "home" in the Private Housing Finance Law to include one to four family dwellings with at least one owner occupant that contain a commercial retailing business area.
-
Limits corporation financing for commercial facilities to no more than 25 percent of the total payment, grant, or loan provided.
-
Expands the definition of "rehabilitation" or "home improvement" to include work on mixed residential and commercial property, in addition to residential-only property.
-
Allows the affordable housing corporation to fund construction or rehabilitation of properties that combine residential ownership with commercial retail uses.
-
Takes effect immediately upon enactment.
Legislative Description
Includes mixed residential and commercial property within the provisions of the affordable home ownership development program thus authorizing the affordable housing corporation to fund the construction or rehabilitation of housing that also contains a commercial retailing business.
Last Action
referred to housing
1/5/2022