NY A00911

Establishes an "Affordable Housing Rehabilitation Program" authorizing cities to adopt local laws providing tax exemptions and abatements for improvements to multiple-dwelling buildings containing three or more units that meet affordability requirements.

Exempts qualifying eligible rental buildings from 5-15% of assessed valuation for up to 15 years, with phased reductions in later years; exemptions begin after restrictive declaration is recorded and vary based on whether buildings receive government assistance.

Permits additional tax abatements up to 70% of certified reasonable cost of eligible construction, capped at 8.33% annual abatement over maximum 20-year period; limits vary by building type (rental, homeownership, regulated homeownership).

Requires eligible rental buildings to maintain at least 50% affordable units during the restriction period (15 years minimum), set rents within specified affordability bands, comply with rent regulation, and prohibit harassment or unlawful evictions of tenants.

Establishes application process requiring completion within four months of construction, non-refundable filing fees ($1,000 plus $75 per unit over six), affidavits of no harassment, and enforcement mechanisms including termination of benefits, penalties up to $1,000 per unit, and private right of action for tenants to recover threefold damages.