What's happening
This bill allows industrial development agencies in Westchester County to assist certain multi-family residential facilities in urban renewal or highly distressed areas.
Why it matters
Expands the types of projects eligible for industrial development agency (IDA) support in Westchester County to include certain multi-family residential facilities. specifically, those for sale in urban renewal or highly distressed areas—potentially increasing investment and revitalization in communities that need it most.
Targets housing development in areas facing economic challenges. by tying IDA assistance eligibility to locations designated as urban renewal or highly distressed, which could lead to increased homeownership opportunities and neighborhood stabilization where it is most needed.
Specifically excludes continuing care retirement communities from eligibility. , ensuring that the focus of new IDA support is on general multi-family housing rather than facilities that cater only to seniors, which may affect the mix of housing types available for development with public assistance.
May shift the balance of IDA-supported projects toward residential developments. , not just commercial or industrial ones, potentially changing the landscape of economic development priorities and sparking debate over the most effective use of public economic development incentives.
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Who cares
Headline styles
Aid for Urban Housing Projects
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to local governments
- Referred to local governments
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
1091
2017-2018 Regular Sessions
IN ASSEMBLY
January 10, 2017
Introduced by M. of A. PRETLOW -- read once and referred to the Committee on Local Governments
AN ACT to amend the general municipal law, in relation to authorizing industrial development agencies to provide assistance to qualified residential facilities
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subdivision 4 of section 854 of the general municipal law, as amended by section 6 of part J of chapter 59 of the laws of 2013, is amended to read as follows:
(4) "Project" - shall mean any land, any building or other improvement, and all real and personal properties located within the state of New York and within or outside or partially within and partially outside the municipality for whose benefit the agency was created, including, but not limited to, machinery, equipment and other facilities deemed necessary or desirable in connection therewith, or incidental thereto, whether or not now in existence or under construction, which shall be suitable for manufacturing, warehousing, research, commercial or industrial purposes or other economically sound purposes identified and called for to implement a state designated urban cultural park management plan as provided in title G of the parks, recreation and historic preservation law and which may include or mean an industrial pollution control facility, a recreation facility, educational or cultural facility, a horse racing facility, a railroad facility, a qualified residential facility, or an automobile racing facility, provided, however, no agency shall use its funds or provide financial assistance in respect of any project wholly or partially outside the municipality for whose benefit the agency was created without the prior consent thereto by the governing body or bodies of all the other municipalities in which a part or parts of the project is, or is to be, located, and such portion of the project located outside such municipality for whose benefit the
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04423-01-7
A. 1091 2
agency was created shall be contiguous with the portion of the project inside such municipality.
§ 2. Section 854 of the general municipal law is amended by adding a new subdivision 21 to read as follows:
(21) "Qualified residential facility" - shall mean any multi-family residential facility with units that are for sale, in any municipality located within the county of Westchester, and which is located in an urban renewal area designated under article fifteen of this chapter or a highly distressed area, together with buildings, structures, machinery, equipment, facilities and appurtenances thereto deemed necessary, useful or desirable in connection therewith, or incidental thereto, but shall not include a continuing care retirement community.
§ 3. This act shall take effect immediately.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
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