Establishes the infill housing pilot program in the city of Buffalo which shall provide capital subsidies for the purpose of building two thousand one- to two- family housing units.
STATE OF NEW YORK
________________________________________________________________________
8585--A
IN SENATE
February 16, 2024
___________
Introduced by Sen. RYAN -- read twice and ordered printed, and when
printed to be committed to the Committee on Housing, Construction and
Community Development -- committee discharged, bill amended, ordered
reprinted as amended and recommitted to said committee
AN ACT to amend the private housing finance law, in relation to estab-
lishing the infill housing pilot program in the city of Buffalo
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The private housing finance law is amended by adding a new
2 article 32 to read as follows:
3 ARTICLE XXXII
4 INFILL HOUSING PILOT PROGRAM
5 Section 1290. Legislative purpose.
6 1291. Infill housing pilot program.
7 § 1290. Legislative purpose. It is hereby declared and found that
8 there exists across upstate New York, and particularly in the city of
9 Buffalo, a shortage of affordable housing units available for purchase.
10 It is further found that homeownership is essential for building genera-
11 tional wealth, and that the state therefore has an interest in promoting
12 homeownership. In order, further, to promote homeownership, it is hereby
13 declared that additional provisions should be made to provide public
14 monies for the purposes of building two thousand one- to two- family
15 housing units in the city of Buffalo for purchase by low to moderate
16 income buyers living in or near the census tract where the property is
17 located. The necessity in the public interest for the provisions of
18 this article is hereby declared as a matter of legislative determi-
19 nation.
20 § 1291. Infill housing pilot program. The division of housing and
21 community renewal shall make capital subsidies available for the
22 purposes of building two thousand one- to two- family housing units in
23 the city of Buffalo in a five year period. The commissioner shall
24 promulgate rules and regulations sufficient for the creation of a new
25 program for the purpose of building such one- to two- family housing
26 units and shall prioritize for development vacant lots owned by the city
27 of Buffalo.
28 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD14432-04-4