Establishes a loan program for accessory apartments for disabled and elderly adults in New York.

The bill amends the private housing finance law to create a disabled and elderly accessory apartment loan program. Loans under this program can be used to construct an additional dwelling unit within a structure, or to improve, renovate, or rehabilitate an existing unit. At least one unit must be owner-occupied and occupied by a person with a disability or someone aged 62 or older. Loans are limited to 50% of total development costs or $50,000. Interest rates are set by the director of housing and community development.

Establishes a loan program for accessory apartments for disabled and elderly adults in New York.

The bill amends the private housing finance law to create a disabled and elderly accessory apartment loan program. Loans under this program can be used to construct an additional dwelling unit within a structure, or to improve, renovate, or rehabilitate an existing unit. At least one unit must be owner-occupied and occupied by a person with a disability or someone aged 62 or older. Loans are limited to 50% of total development costs or $50,000. Interest rates are set by the director of housing and community development.