Establishes the manufactured home community preservation act to provide financial and technical assistance, within funds available to counties, municipalities, rural preservation companies, and other non-profit housing organizations for their housing preservation efforts; provides that funds in the mortgage insurance fund can be used to provide financial support to local governments and eligible non-profit housing organizations.
Summary
Bill S03835 establishes the Manufactured Home Community Preservation Act, aimed at providing financial and technical assistance to local governments, municipalities, rural preservation companies, and non-profit housing organizations for the preservation of mobile and manufactured home communities. The bill introduces a state program that will facilitate the acquisition of development rights or outright purchase of mobile home parks, ensuring these properties remain available for affordable housing. It also outlines the creation of a preservation program managed by the commissioner, which will include guidelines for eligibility and an application process for financial assistance.
Impact
The bill amends the private housing finance law and the public authorities law, allowing the use of funds from the mortgage insurance fund to support the preservation of mobile home communities. This change aims to protect existing mobile home parks from being converted to other uses, thereby maintaining affordable housing options for residents. The financial support provided under this act is expected to have a significant impact on local housing markets, particularly in areas where mobile home parks are at risk of redevelopment.
Sentiment
The sentiment surrounding Bill S03835 appears to be largely positive, as indicated by the voting history where it received overwhelming support in committee votes and a significant majority in the final Senate floor vote. The discussions suggest a recognition of the importance of preserving affordable housing options, particularly in light of increasing housing costs in many areas.
Contention
While the bill has garnered significant support, there are concerns from some stakeholders regarding the potential financial implications for the mortgage insurance fund and the effectiveness of the preservation program. Opponents have raised questions about the long-term sustainability of funding and whether the bill adequately addresses the needs of all affected parties, including current residents and potential developers.
Same As
Establishes the manufactured home community preservation act to provide financial and technical assistance, within funds available to counties, municipalities, rural preservation companies, and other non-profit housing organizations for their housing preservation efforts; provides that funds in the mortgage insurance fund can be used to provide financial support to local governments and eligible non-profit housing organizations.
Establishes the manufactured home community preservation act to provide financial and technical assistance, within funds available to counties, municipalities, rural preservation companies, and other non-profit housing organizations for their housing preservation efforts; provides that funds in the mortgage insurance fund can be used to provide financial support to local governments and eligible non-profit housing organizations.
Authorizes the town of Copake to establish community preservation funds and to impose a real estate transfer tax with revenues to be deposited into the community preservation fund; provides for the repeal of certain provisions upon expiration thereof.
Authorizes the town of Copake to establish community preservation funds and to impose a real estate transfer tax with revenues to be deposited into the community preservation fund; provides for the repeal of certain provisions upon expiration thereof.
Authorizes the town of Clarkstown to establish community preservation funds and to impose a real estate transfer tax with revenues therefrom to be deposited in the community preservation fund; provides for the repeal of certain provisions upon expiration thereof.
Authorizes the town of Chester to establish community preservation funds; establishes a real estate transfer tax with revenues therefrom to be deposited in said community preservation fund.
Authorizes the town of Chester to establish community preservation funds; establishes a real estate transfer tax with revenues therefrom to be deposited in said community preservation fund.
Creates "Manufacturing Reboot Program" in EDA to provide financial assistance to certain manufacturing businesses; makes $10 million appropriation to EDA.
Creates "Manufacturing Reboot Program" in EDA to provide financial assistance to certain manufacturing businesses; makes $10 million appropriation to EDA.