Establishes an affordable housing relief fund program to preserve affordable multifamily residential properties in New York state.
New York A01729 creates an affordable housing relief fund program to preserve affordable multifamily residential properties in New York state. The program provides forgivable loans to eligible applicants for the preservation or improvement of affordable housing properties. Eligible projects include at-risk, 100% affordable or supportive multifamily rental properties. Funding criteria allow up to $50,000 per income-restricted housing unit for preservation or rehabilitation.
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