What's happening
This bill establishes a five-year moratorium on dissolving urban rental Mitchell-Lama companies and requires a comprehensive study of the Mitchell-Lama housing program.
Why it matters
Freezes the ability of urban rental Mitchell-Lama companies to dissolve for five years. , which means thousands of affordable housing units are shielded from being converted to market-rate or otherwise removed from affordability protections during a critical period for housing availability.
Mandates a comprehensive, state-led study of the Mitchell-Lama program. , aiming to evaluate and improve policies on preservation, expansion, and reform—potentially shaping the future of affordable housing in New York for both existing and new residents.
Calls for analysis of key issues such as income eligibility, developer incentives, and geographic targeting. , which could lead to significant changes in who qualifies for Mitchell-Lama housing, where new developments might be prioritized, and how to attract more private participation.
Requires both preliminary and final reports to top state leaders. , ensuring legislative and executive branches receive actionable recommendations, which increases the likelihood of substantive policy changes based on the study’s findings.
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Who cares
Urban rental Mitchell-Lama companies
The bill would bar otherwise eligible companies from voluntarily dissolving for five years.
Mitchell-Lama tenants
The bill would temporarily block urban rental companies from leaving the program through voluntary dissolution and require a study of program preservation and sustainability.
New York State Homes and Community Renewal
The agency would lead the study in consultation with the New York City Department of Housing Preservation and submit preliminary findings within two years and final recommendations after four years.
Housing developers
The study would examine taxation and financing models to encourage their participation in Mitchell-Lama and identify areas for potential new housing.
Headline styles
Freeze Mitchell-Lama Dissolutions
Plain English, a few words. Used as the page title.
Sponsors
1 Co-sponsor
1 Multi-sponsor
History
- Ordered to third reading cal.393
- Advanced to third reading cal.427
- Reported
- Reported referred to ways and means
- Referred to housing
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
5550
2017-2018 Regular Sessions
IN ASSEMBLY
February 10, 2017
Introduced by M. of A. CYMBROWITZ -- read once and referred to the Committee on Housing
AN ACT to amend the private housing finance law, in relation to initiating a five-year moratorium on the dissolution of any urban rental Mitchell-Lama company, and in relation to establishing the implementation of a Mitchell-Lama housing program study; and providing for the repeal of certain provisions upon expiration thereof
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The private housing finance law is amended by adding a new section 35-a to read as follows:
§ 35-a. Moratorium on voluntary dissolution. Notwithstanding any other provision of law, any urban rental company created pursuant to this article and otherwise eligible to voluntarily dissolve pursuant to section thirty-five of this article shall be prohibited from such dissolution.
§ 2. 1. Mitchell-Lama housing program study. New York State Homes and Community Renewal, in consultation with the New York City Department of Housing Preservation, shall execute a study on the preservation, sustainability, reform, and growth of the Mitchell-Lama housing program, including, but not limited to:
a. recommendations for the expansion of the Mitchell-Lama housing program to address the affordable housing needs of New York's growing population;
b. taxation and financing models to encourage housing developers to participate in the Mitchell-Lama housing program;
c. adjusting the amount of time a company must remain in the Mitchell-Lama housing program before it may voluntarily dissolve;
d. an analysis of current family income criteria used to determine access to low- and middle-income housing;
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08254-02-7
A. 5550 2
e. a determination of geographic areas of the state to best locate potential Mitchell-Lama housing;
f. policy initiative responsive to the present and future needs of the Mitchell-Lama housing program and of Mitchell-Lama developments owned by urban rental or mutual companies;
g. the feasibility of methods to preserve and expand the inventory of Mitchell-Lama housing relative to and within New York's other low- and middle-income housing programs.
2. Preliminary and final study report. New York State Homes and Community Renewal shall submit to the governor, the speaker and the minority leader of the assembly, and the temporary president and the minority leader of the senate a preliminary report with findings concerning the Mitchell-Lama housing program within two years of the effective date of this section. Four years after the effective date of this section, New York State Homes and Community Renewal shall submit to the governor, the speaker and minority leader of the assembly, and the temporary president and minority leader of the senate a final report with recommendations respecting the Mitchell-Lama housing program study.
3. Assistance. To the maximum extent possible, New York State Homes and Community Renewal shall be entitled to request and receive, and shall utilize and be provided with such facilities, resources, and data from any state court, department, division, board, bureau, commission, agency, or political subdivision that they may reasonably request to properly execute their responsibilities pursuant to this act.
§ 3. This act shall take effect immediately, provided, however, that the provisions of section one of this act shall expire and be deemed repealed five years after this act shall have become a law.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.