Extends provisions of law relating to new owners of buildings for which administrators have been appointed pursuant to article 7-A of the real property actions and proceedings law from June 30, 2024 until June 30, 2027.
Extends the existing authority of the local housing agency in the city of New York, the department of housing preservation and development until June 30, 2027 to restructure rents for housing development fund companies that have purchased and are rehabilitating occupied multiple dwellings.
Extends certain provisions relating to establishing initial rents in respect of certain loans to owners of existing multiple dwellings to June 30, 2027.
Establishes a reverse loan mortgage loan program for seniors; provides for the state of NY mortgage agency to establish many of the parameters for the implementation of the program; defines terms; requires a care needs assessment of each applicant; provides that area agencies on aging shall provide counseling and assistance to applicants; requires independent counseling in compliance with HUD regulations; directs the state of New York mortgage agency to issue an annual report to the governor and the legislature.
Enacts the "accessory dwelling unit incentive act" to establish the accessory dwelling unit forgivable loan program by the division of homes and community renewal; defines terms; makes related provisions.
Relates to the New York city housing authority and mold remediation; after reporting such authority shall have 15 days to remediate such reported mold.
Creates a veteran's home and land ownership loan program to provide loans to veterans to purchase homes or unimproved land suitable for building; requires such loans to be secured by a second mortgage.
Directs the commissioner of housing and community renewal to create and maintain a database of vacant residential housing units, and to create an affordable housing development program; imposes a tax on vacant residential housing units; creates an affordable housing development program fund.
Makes provisions with respect to affordable housing within the city of Yonkers; provides funds of twenty-five thousand dollars in the affordable housing development account for new construction of affordable housing within the city of Yonkers and acquisition of existing housing stock cooperatives, condominiums and fee simple multi-family housing where appropriate.