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NY S07995
Bill
Status
5/15/2025
Primary Sponsor
Michelle Hinchey
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AI Summary
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Authorizes Ulster County to establish an affordable housing fund through local law, with deposits from the county's housing action fund, proceeds from sale/rental of affordable housing produced by the fund, and up to 25% of hotel/motel occupancy tax revenues
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Defines eligible individuals as unhoused persons or households earning up to 80% of Ulster County's area median income, with affordable housing requiring occupants to pay no more than 30% of gross income for housing costs including utilities
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Permits fund expenditures for production of affordable, emergency, and supportive housing for sale or rent; rehabilitation of existing buildings; acquisition of real property interests; and HUD-authorized housing counseling services
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Requires creation of a 5-member advisory board (2 appointed by county executive, 3 by legislature leaders) and adoption of a county housing plan that ensures equitable distribution of housing opportunities and must be updated every 5 years
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Fund expires 30 years after effective date but may be extended 5-20 years by local law subject to mandatory voter referendum; remaining funds transfer to county stabilization or retirement reserves upon expiration
Legislative Description
Authorizes the county of Ulster to establish an affordable housing fund to provide financial assistance to first-time homebuyers, production of affordable housing, emergency housing, or supportive housing for sale or rent, rehabilitation of existing buildings for conversion to affordable housing, emergency housing, or supportive housing, acquisition of interests in real property in existing housing units, and the provision of housing counseling services.
Last Action
REFERRED TO LOCAL GOVERNMENT
1/7/2026