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NY A04679
Bill
Status
2/22/2023
Primary Sponsor
Michael Fitzpatrick
Click for details
AI Summary
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Amends the definition of "home" under the Affordable Home Ownership Development Program to include one to four family dwellings with commercial retail space, provided the commercial portion does not exceed 25 percent of total financing.
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Expands the definition of "rehabilitation" or "home improvement" to explicitly include mixed residential and commercial property, in addition to residential-only properties.
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Allows the affordable housing corporation to finance mixed-use properties combining residential units with commercial retailing businesses under the affordable home ownership program.
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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
1/3/2024