Requires community median income be used by certain affordable housing programs in a city having a population of one million or more; requires affordable housing programs using state funding to cover 33 percent or more of the construction costs of a building or buildings to use community median income to determine income eligibility and rent levels; exempts programs utilizing federal funding.
Amends the current law on low-income housing to include moderate-income housing and eliminates the income percentages used to determine qualifications for low or moderate income housing.
Amends the current law on low-income housing to include moderate-income housing and eliminates the income percentages used to determine qualifications for low or moderate income housing.
Establishes income eligibility requirements that a tenant shall have income not to exceed one hundred twenty-five percent of the area median income to be eligible to occupy certain rent-regulated housing accommodations.
Requires calculation of need for low and moderate income housing units to be based current percentage of units occupied by low and moderate income individuals or families; revises "Local Redevelopment and Housing Law" to allow for senior citizen housing and community development.
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.