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NY A07470
Bill
Status
3/28/2025
Primary Sponsor
Michael Novakhov
Click for details
AI Summary
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Expands the definition of "home" under the Affordable Home Ownership Development Program to include one to four family dwellings that contain space for a commercial retailing business, provided the owner occupies at least one unit
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Limits corporation financing for the commercial portion to no more than 25% of the total payment, grant, or loan amount
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Extends "rehabilitation" and "home improvement" definitions to explicitly include mixed residential and commercial properties
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Allows the Affordable Housing Corporation to fund construction or rehabilitation of properties combining housing with retail business space
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
1/7/2026