Directs the housing trust fund corporation to administer a New York small cities community development program to encourage the rehabilitation and repair of local housing in cities, as accounted in the most recent United State census, with a population less than one hundred thousand.
Summary
Bill A06738 proposes the establishment of a New York small cities community development program aimed at encouraging the rehabilitation and repair of local housing in cities with populations under 100,000, as per the latest U.S. census. The program will be administered by the housing trust fund corporation and will focus on physical improvements to single and two-family homes, including necessary repairs to roofs, sidings, doors, windows, and other structural elements to ensure compliance with building codes. The bill aligns with the federal small cities community development block grant regulations as defined by the Housing and Community Development Act of 1974.
Impact
If enacted, this bill will amend the private housing finance law to create a new subdivision that mandates the housing trust fund corporation to oversee the community development program. This will likely lead to increased funding and resources allocated for housing improvements in smaller cities, potentially improving living conditions and property values in these areas. It may also influence state budget appropriations to support the program's implementation.
Sentiment
The sentiment surrounding Bill A06738 appears to be generally positive, as it addresses the need for housing rehabilitation in smaller communities, which is often overlooked. However, there may be concerns regarding the adequacy of funding and the effectiveness of the program in achieving its goals, as indicated by the lack of voting history and committee discussions available at this time.
Contention
Notable points of contention may arise regarding the funding mechanisms for the program and the criteria for determining which projects receive support. Stakeholders may have differing opinions on the prioritization of certain types of housing improvements or the allocation of resources among various small cities. Additionally, there may be discussions on the potential bureaucratic challenges in administering the program effectively.
Establishes a former foster youth priority program that reserves at least five percent of units in housing lotteries that are administered by the New York city department of housing preservation and development or the New York city housing development corporation for eligible former foster youth; authorizes the promulgation of rules, regulations and marketing handbooks and procedural guidelines; establishes reporting requirements.
Authorizes cities and towns, except a city with a population of one million or more, to establish community housing funds; authorizes such cities and towns to impose a real estate transfer tax with revenues to be deposited in such funds; makes related provisions.
Enacts the "Housing mobility mortgage study act" to direct the commissioner of housing and community renewal, in consultation with the state of New York mortgage agency (SONYMA) to study the potential impacts of establishing a state-backed housing mobility mortgage program within the state of New York.