NY A09342

Establishes the resilient retrofits loan and grant program administered by the Division of Housing and Community Renewal in conjunction with the comptroller, Home HeadQuarters, Inc., and Community Development Long Island.

Provides low or no-interest loans to individual property owners for hazard mitigation and resilience projects, including repairs and upgrades of private sewers in multiple dwellings and single-family homes where sewer capacity has been exceeded, with loans attachable to property taxes.

Provides grants covering at least 80% of the cost for hazard mitigation and resilience projects, including construction and maintenance of flood and backup private sewer lines in multiple dwellings and single-family homes.

Offers graduated loan forgivability providing a minimum of 50% loan forgiveness for eligible households with annual income equal to or less than $250,000 per year.

Establishes the resilient retrofit loan and grant fund in the joint custody of the state comptroller and the Division of Housing and Community Renewal commissioner, funded through appropriations, transfers, and loan repayments, effective 60 days after enactment.