NY A06655

Authorizes municipalities and agencies to make grants (in addition to loans) for housing rehabilitation, new construction, and climate resiliency improvements across multiple housing finance programs.

Expands eligible uses of loans to include climate resiliency improvements, preservation of housing, and site improvements like parks and open space in urban development and housing rehabilitation projects.

Extends loan repayment periods from 30 years to 40 years (with potential extensions) to improve affordability and economic viability of multiple dwellings and one to four unit properties.

Allows municipal loans and mortgages to be recorded in equal or subordinate positions to private lender liens, enabling better coordination between public and private financing sources.

Establishes new provisions for charging administrative fees for financing, regulation, supervision and audit of loans and grants, with fees deposited into municipal general funds rather than separate restricted accounts.