New York Senate Bill S01398 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 1398 2025-2026 Regular Sessions  IN SENATE January 9, 2025 ___________ Introduced by Sen. S. RYAN -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Community Development AN ACT to amend the private housing finance law, in relation to estab- lishing the infill housing pilot program in the city of Buffalo The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The private housing finance law is amended by adding a new 2 article 33 to read as follows: 3 ARTICLE XXXIII 4 INFILL HOUSING PILOT PROGRAM 5 Section 1300. Legislative purpose. 6 1301. Infill housing pilot program. 7 § 1300. Legislative purpose. It is hereby declared and found that 8 there exists across upstate New York, and particularly in the city of 9 Buffalo, a shortage of affordable housing units available for purchase. 10 It is further found that homeownership is essential for building genera- 11 tional wealth, and that the state therefore has an interest in promoting 12 homeownership. In order, further, to promote homeownership, it is hereby 13 declared that additional provisions should be made to provide public 14 monies for the purposes of building two thousand one- to two- family 15 housing units in the city of Buffalo for purchase by low to moderate 16 income buyers living in or near the census tract where the property is 17 located. The necessity in the public interest for the provisions of 18 this article is hereby declared as a matter of legislative determi- 19 nation. 20 § 1301. Infill housing pilot program. The division of housing and 21 community renewal shall make capital subsidies available for the 22 purposes of building two thousand one- to two- family housing units in 23 the city of Buffalo in a five year period. The commissioner shall 24 promulgate rules and regulations sufficient for the creation of a new EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02989-01-5 
 S. 1398 2 1 program for the purpose of building such one- to two- family housing 2 units and shall prioritize for development vacant lots owned by the city 3 of Buffalo. 4 § 2. This act shall take effect immediately.