Requires out-of-state affordable housing owners to maintain an escrow account for the purpose of financing utility costs, property tax obligations, fire services, and regular maintenance costs for affordable housing rental units located in New York state.
Establishes the insurance and housing task force to ensure the availability of affordable housing and affordable housing insurance.
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.
Requires affordable housing obligations of municipalities to be based on Statewide need.
Reduces term of affordability required for affordable housing created through middle housing construction or conversion.
Housing: affordable housing tenants: home ownership.
Requires COAH to administer affordable housing obligations of municipalities based on Statewide obligation.
Establishes "Commission on Statewide Affordable Housing Obligations" to determine Statewide need for low and moderate income housing.
Increases historic tax credit to 30%, and up to 35%, depending on the amount of rental area available for multi-family housing, affordable rental units and units sold as affordable housing.
Increases historic tax credit to 30%, and up to 35%, depending on the amount of rental area available for multi-family housing, affordable rental units and units sold as affordable housing.