NY A05191

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 (CDLI)

Provides low or no-interest loans to property owners for hazard mitigation projects, including repairs, cleanups, and upgrades of private sewers in multi-family and single-family homes where sewer capacity has been exceeded; loans may be attached to property taxes and transferred to new owners

Creates grants covering at least 80% of project costs for construction and maintenance of flood and backup private sewer lines in residential properties

Offers graduated loan forgiveness with a minimum of 50% forgiveness for eligible households earning $250,000 or less per year

Establishes the Resilient Retrofit Loan and Grant Fund in joint custody of the Comptroller and DHCR Commissioner to hold appropriations, loan repayments, and investment income; funds must supplement rather than replace existing federal or state recovery funding