NY S02721

Creates the Mobile and Manufactured Home Replacement Program administered by the Housing Trust Fund Corporation to replace dilapidated mobile and manufactured homes with new energy-efficient Energy Star rated manufactured, modular, or site-built homes

Limits eligibility to homeowners with household income not exceeding 80% of area median income whose mobile/manufactured home is their primary residence and is in dilapidated condition

Caps contracts at $750,000 per eligible applicant (local governments or qualifying nonprofits) per region, with a four-year completion deadline and possible one-year extension

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

Limits individual grants to $200,000 maximum and requires homeowners to attend homeownership training covering post-purchase counseling, credit/budget management, and home maintenance