NY A05655

Establishes the Mobile and Manufactured Home Replacement Program under the Housing Trust Fund Corporation to replace older, dilapidated mobile and manufactured homes with new Energy Star-rated manufactured, modular, or site-built homes

Limits eligibility to homeowners with household income not exceeding 80% of area median income, with the home serving as their primary residence

Caps grants at $750,000 per eligible applicant (local governments or non-profits with housing experience) per region, and $200,000 per individual property owner

Provides assistance as 100% grants structured as deferred payment loans with a 10-year declining balance lien; funds are recaptured if the property is sold before the term expires, unless transferred to an income-eligible immediate family member

Requires participating homeowners to complete homeownership training covering post-purchase, credit/budget, and home maintenance counseling; also covers relocation assistance and demolition costs