NY A09426

Increases the minimum residential percentage requirement in mixed-use properties from 40 percent to 50 percent of building square footage.

Limits percentage calculations to stories above grade only, excluding below-grade square footage from residential and commercial use determinations.

Adds new eligibility requirements including that at least 75 percent of the mixed-use property must consist of a pre-existing building or structure, and requires applicants to demonstrate the commercial portion is currently used or in good faith contemplated for use.

Removes the three-year consecutive non-use revocation provision and simplifies revocation grounds to false statements/material omissions or failure to comply with program requirements.

Eliminates detailed annual certification requirements regarding commercial entrance locations and reasons for non-use, and modifies repayment obligations upon revocation.