Establishes a housing project revolving loan program and fund to provide zero-percent or low-interest loans for mixed income housing development.

The bill establishes a housing project revolving loan program and fund to encourage the development of mixed income housing. It provides zero-percent or low-interest loans to residential housing developers for eligible housing projects. The fund is financed by appropriations and repayments of loans. The New York State Housing Finance Agency is authorized to allocate funds to other housing finance agencies. Loans must be repaid upon completion of the housing project.

Establishes a housing project revolving loan program and fund to provide zero-percent or low-interest loans for mixed income housing development.

The bill establishes a housing project revolving loan program and fund to encourage the development of mixed income housing. It provides zero-percent or low-interest loans to residential housing developers for eligible housing projects. The fund is financed by appropriations and repayments of loans. The New York State Housing Finance Agency is authorized to allocate funds to other housing finance agencies. Loans must be repaid upon completion of the housing project.