Establishes the New York state senior housing opportunities partnership authority to finance senior housing projects.
The bill enacts the New York state senior housing opportunities partnership act, establishing the New York state senior housing opportunities partnership authority. This authority will finance or collaborate in the financing of senior housing opportunities facility projects. The authority can enter into contracts with banks or consortiums to provide financing instruments, issue bonds and notes, and create debt service reserve funds. It can also make loans and provide credit to senior housing opportunity corporations. The authority is exempt from certain taxes and can invest its funds.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.