Extends affordable housing development loan provisions to all New York municipalities.

New York A07523 amends the private housing finance law to extend provisions for affordable housing development loans to all municipalities in New York. It allows municipalities to assist the private sector in developing residential housing. The bill includes provisions for non-interest bearing advances to sponsors for pre-development costs, conditions for loan eligibility, and rules for the supervising agency. It also addresses the conversion of projects, the use of public investment, and the economic viability of eligible projects.

Extends affordable housing development loan provisions to all New York municipalities.

New York A07523 amends the private housing finance law to extend provisions for affordable housing development loans to all municipalities in New York. It allows municipalities to assist the private sector in developing residential housing. The bill includes provisions for non-interest bearing advances to sponsors for pre-development costs, conditions for loan eligibility, and rules for the supervising agency. It also addresses the conversion of projects, the use of public investment, and the economic viability of eligible projects.