Establishes a pilot program to boost homeownership among underrepresented groups in New York.

The bill creates a pilot program to encourage homeownership among individuals and groups underrepresented in homeownership or who have experienced a significant decline in homeownership rates over the past decade. The program will operate in three areas selected by the Division of Homes and Community Renewal, focusing on factors such as population growth, displacement, and homeownership declines. It will provide resources including outreach, education, and financial assistance, and will utilize up to $2,000,000 in existing funding from the Affordable Housing Corporation.

Establishes a pilot program to boost homeownership among underrepresented groups in New York.

The bill creates a pilot program to encourage homeownership among individuals and groups underrepresented in homeownership or who have experienced a significant decline in homeownership rates over the past decade. The program will operate in three areas selected by the Division of Homes and Community Renewal, focusing on factors such as population growth, displacement, and homeownership declines. It will provide resources including outreach, education, and financial assistance, and will utilize up to $2,000,000 in existing funding from the Affordable Housing Corporation.