Housing and Community Renewal State Operations (S.8300-B)
Rubin Isak
I sell development sites in NYC | Managing Principal & Co-Founder of development site advisors? | Co-Chair of The REBNY Development Committee
* The Senate modifies the Executive All Funds recommendation of $137.5 million by adding $5 million for a total of $142.5 million, to provide funding for the following:
o $5 million for the creation of an Office of Civil Representation.
Aid to Localities (S.8303-B)
* The Senate modifies the Executive All Funds recommendation of $99.5 million by adding $345.3 million for a total of $446.8 million to provide funding for the following:
o Restores:
- $50 million for Land Banks and Land Trusts.
- $40 million for the Homeowner Protection Program (HOPP).
- $1 million for Senate Legislative Priorities and adds $1 million for a total of $2 million.
- $250,000 for the Association for Neighborhood and Housing Development (ANHD).
o The Senate provides $250 million for the Housing Access Voucher Program (HAVP).
o The Senate provides $3 million for a Foreclosure Prevention and Property Repair Program.
o The Senate provides $2 million in additional funding for Fair Housing Testing.
Capital Projects (S.8304-B)
* The Senate modifies the Executive All Funds recommendation of $182.2 million by adding $1.1 billion for a total of $1.3 billion to provide funding for the following: o Restores:
- $135 million for the New York City Housing Authority (NYCHA), and adds $365 million for a total of $500 million.
- $50 million for the Mitchell Lama Preservation and Homeownership Program.
- $14.5 million for the Affordable Housing Corporation for a total of $40.5 million.
- $7 million for the Small Rental Development Initiative and adds $5 million for a total of $12 million.
- $7 million for the RESTORE program for a total of $8.4 million.
- $2 million and adds $1 million for Access to Home for a total of $4 million.
o The Senate adds:
- The Senate proposes to repurpose $250 million in funding through Empire State Development for the purpose of the New York Housing Opportunity Corporation.
- $140 million for Public Housing Authorities outside the City of New York.
- $40 million for the construction of one-to-two family small infill homes in Albany, Binghamton, Buffalo, Syracuse, and Rochester (a version of S.8585-A).
- $40 million to provide grants for owners of less than five units to bring dilapidated apartments up to code as affordable rentals throughout the State outside of New York City (a version of S.8591).
- $40 million to offer grants to repair vacant rent-stabilized apartments in New York City, as well as Nassau, Westchester, and Rockland counties.
- $25 million for USDA 515 Rental Properties Preservation.
- $15 million for Farm Worker Housing Revolving Loan Program.
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Article VII Proposal (S.8306-B)
* PART N -- The Senate modifies the Executive proposal to increase funding for the Rural Preservation Program from $5.36 million to $7.75 million and increase the funding for the Neighborhood Preservation Program funding from $12.83 million to $17.75 million. Such increases include funding for Rural Preservation Coalitions and Neighborhood Preservation Coalitions. The Senate increases funding for homeless housing programs from $53.58 million to $85.58 million.
* PART O -- The Senate modifies the Executive's proposal to establish the crime of deed theft by including clarifying language to strengthen the criminal law components of the proposal (S.6569-B).
* PART P -- The Senate modifies the Executive proposal to convey land owned by SUNY and DOT to require that affordable housing be built as a condition of a lease of the identified property.
* PART Q -- The Senate modifies the Executive proposal to remove the 12.0 Floor Area Ratio requirement from the Multiple Dwelling Law for developments in New York City subject to Mandatory Inclusionary Housing or equivalent affordability requirements and that are constructed outside of historic districts.
* PART R -- The Senate modifies the Executive proposal to create a tax exemption for commercial conversions in New York City to require a greater number of affordable units per project and to specify the benefit amount and duration.
* PART S -- The Senate intentionally omits the Executive proposal to authorize New York City to develop a program to legalize certain basement and cellar dwellings.
* PART T -- The Senate intentionally omits the Executive proposal to extend the 421-a tax exemption completion deadline, with an intention to address projects as part of a comprehensive housing package.
* PART U -- The Senate intentionally omits the Executive proposal to establish a tax incentive for the construction of multi-family rental housing to replace the expired 421-a program, with an intention to address projects as part of a comprehensive housing package that includes tenant protections.
* NEW PART HH -- The Senate advances language to create the Housing Access Voucher Program to provide rental assistance in the form of vouchers to individuals who are homeless or facing imminent risk of becoming homeless (S.568-B).
* NEW PART MM -- The Senate advances language to require the State Fire Prevention and Building Code Council study and adopt regulations for single-exit, single stairway multi-unit residential buildings of at least six stories (S.6573).
* NEW PART NN -- The Senate advances language to direct the Comptroller of the City of New York to audit projects vested in 421-a tax incentive program (S.547-B).
* NEW PART RR -- The Senate advances a proposal to create a community land trust acquisition fund (S.2506-A).
* NEW PART SS -- The Senate advances a proposal to create an optional incentive program for municipalities to legalize accessory dwelling units, to create an optional tax exemption for homeowners to create accessory dwelling units, and to create a state-level financing for accessory dwelling units (S.5172-A).
* NEW PART TT -- The Senate advances language to establish an Office of Civil Representation aligned with the core principles of a civil right to representation by counsel for individuals at risk of losing their housing accommodation (amended version of S.2721).
* NEW PART WW -- The Senate advances a proposal to provide capital financing for the construction of one-to-two family infill homes in Buffalo, Albany, Syracuse, Rochester, and Binghamton (amended version of S.8585-A).
* NEW PART YY -- The Senate advances language to codify the Homeowner Protection Program (S.7297-A).
* NEW PART ZZ -- The Senate advances a proposal to provide grants for owners of five or fewer units to bring dilapidated apartments up to code as affordable rentals throughout the state outside of New York City (amended version of S.8591).
* NEW PART AAA -- The Senate advances a proposal to offer grants to repair vacant rent-stabilized apartments in New York City, as well as Nassau, Westchester, and Rockland counties.
* NEW PART XX -- The Senate advances a proposal to create an optional multifamily tax exemption for new construction and commercial conversions in municipalities outside of New York City (amended version of S.7865).
* NEW PART CCC -- The Senate advances a proposal to finance the construction of new affordable and mixed-income housing on state-owned land, including parcels referenced in ELFA Part P.
* NEW PART DDD -- The Senate advances a proposal to increase public assistance access and support for individuals at risk of eviction to keep them in their homes (amended versions of S.8622 and S.8652).
* The Senate supports advancing tenant protections that align with the core principles of Good Cause Eviction.
* The Senate is open to further discussing the creation of a tax exemption for new multi-family construction in New York City that includes deeper affordability requirements, strong transparency and compliance provisions, and living wages for construction and building service workers, as part of a comprehensive housing package that includes the core principles of Good Cause Eviction. The Senate is also open to further discussing an extension of the 421-a tax exemption completion deadline for projects already vested in the program as part of a comprehensive housing package that includes tenant protections.
* The Senate is open to further discussing raising the current cap on individual apartment improvements (IAIs) as part of a comprehensive housing package that includes the core principles of Good Cause Eviction.
* The Senate recognizes the need to further increase the state's housing supply and is open to further discussion of concepts put forward in the Faith-Based Affordable Housing Act (S.7791).
I reduce NYC property taxes for R&E.
8 个月The return of AHCC in Part R. The permanent affordability is the deal killer though.