New York A07470 expands the affordable home ownership development program to include mixed residential and commercial properties, allowing funding.
New York A07470 amends the private housing finance law to redefine "home" to include mixed residential and commercial properties. This change authorizes the affordable housing corporation to fund the construction or rehabilitation of housing that also contains a commercial retailing business. The bill specifies that the portion of the payment, grant, or loan for the commercial facility cannot exceed 25% of the total. This act takes effect immediately.
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