Requires landlords to show they have obtained permits for the demolition and construction of a new building and the financial ability to complete such projects when not renewing a lease.
Requires the New York city housing authority to repair certain conditions within thirty days of receipt of a written notice requesting such repairs; requires NYCHA to convert from gas to electric appliances when repairing or replacing any such appliances.
Relates to requiring affordable housing projects to calculate and only use the area median income for the specific zip code that the project is located in for determining affordability.
Relates to creating a new acquisition fund for community land trusts located in New York state; provides that moneys of the fund shall be expended solely to carry out the affordable home ownership development program exclusively for community land trusts; defines community land trusts.
Relates to the de-regulation of rent-stabilized housing accommodations; eliminates rent regulation for any regulated housing accommodation that becomes vacant on or after June 16, 2024; makes exceptions.
Establishes a rental assistance loan-to-grant program to assist landlords of small rental properties who have lost rental income due to the inability of the landlords' tenants to pay rent during the COVID-19 state disaster emergency; provides for the repeal of such provisions upon the expiration thereof.
Requires companies aided by loans under Mitchell-Lama to notify tenants of such housing of the possibility of buyout from mortgages held which would potentially result in rent increases not later than twelve months prior to proposed dissolution; provides such notice shall inform tenants of the nature of the action, the date intended, the applicable laws and a summary of the potential consequences including expenses and rent increases which may be charged; requires the commissioner or supervising agency to prepare a report to be made available to the tenants of the project.
Relates to limited-profit housing companies; authorizes certain companies to pay dividends or interest in excess of six percent per annum; relates to the dissolution of certain rental housing companies.
Establishes an affordable independent senior housing assistance program which shall provide grants within amounts appropriated or otherwise available therefor to affordable independent senior housing properties to establish and operate resident assistance programs.