New York bill S03751 mandates that educational institutions with endowments over $10 billion must include 30% affordable housing units in any housing.
New York bill S03751 requires educational institutions with endowments exceeding $10 billion to incorporate 30% affordable housing units in any property they own that offers housing. This applies to institutions located in cities with populations of one million or more. The affordable housing units must meet specific criteria as defined by the law. The bill aims to ensure that a portion of the housing provided by these institutions is affordable for low-income residents.
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