NY A07647

Expands advisory board qualifications for the Peconic Bay region community preservation fund to include members with demonstrated experience in historic preservation activities, in addition to conservation and water quality improvement activities.

Adds language requiring that historic and cultural property preservation allow for adaptive reuse consistent with the historic character of the property while maximizing public use to the maximum extent practicable.

Permits towns to utilize development rights acquired with community preservation fund monies to provide community housing, defined as primary residential properties with purchase prices not exceeding 150 percent of state mortgage agency low-interest rate loan program limits for the county.

Requires that lands from which development rights are acquired remain permanently preserved by conservation easement and that proceeds from any sale of development rights be deposited back into the community preservation fund.

Takes effect immediately upon enactment.