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Sponsors
No co-sponsors yet.
History
- Referred to housing, construction and community development
- Referred to housing, construction and community development
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Includes mixed residential and commercial property within the affordable home ownership program
In Assembly Committee · Housing · Sponsor Michael J. Fitzpatrick
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the private housing finance law, in relation to including mixed residential and commercial property within the provisions of the affordable home ownership development program
Purpose
To authorize the Affordable Housing Corporation to fund the construction or rehabilitation of housing that also contains a commercial retailing business.
Summary of provisions
This bill amends the definition of "home" contained in Section 1111 (1) of the Private Housing Finance Law to authorize the Affordable Housing Corporation to provide funds for the construction or rehabilitation of one- to four-family dwellings which have at least one owner occupant and which may contain an area utilized for commercial retailing business.
Justification
Currently, the Affordable Home Ownership Development Program provides eligible applicants funds for the construction or rehabilitation of one- to four-family owner occupied housing. The program, though, makes no provision for funding of residential dwellings that contain ground level retail stores with the store owner living in another housing unit within the building. By authorizing this type of housing development, the State would be encouraging home ownership opportunities with entrepreneurial activities. This type of program could have an especially vital impact in blighted areas because it would help revitalize neighborhoods from both a housing and an economic growth perspective.
Legislative history
A.4509 (2004) S.6244 (2006) A.4509 (2006) S.359 (2007)
Fiscal implications
None.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.