senate Bill S755

Includes mixed residential and commercial property within the affordable home ownership program

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Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 05 / Jan / 2011
    • REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
  • 24 / May / 2011
    • REPORTED AND COMMITTED TO FINANCE
  • 13 / Jun / 2011
    • COMMITTEE DISCHARGED AND COMMITTED TO RULES
  • 14 / Jun / 2011
    • ORDERED TO THIRD READING CAL.1200
  • 15 / Jun / 2011
    • PASSED SENATE
  • 15 / Jun / 2011
    • DELIVERED TO ASSEMBLY
  • 15 / Jun / 2011
    • REFERRED TO HOUSING
  • 04 / Jan / 2012
    • DIED IN ASSEMBLY
  • 04 / Jan / 2012
    • RETURNED TO SENATE
  • 04 / Jan / 2012
    • REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
  • 18 / Jan / 2012
    • REPORTED AND COMMITTED TO FINANCE
  • 08 / May / 2012
    • 1ST REPORT CAL.715
  • 09 / May / 2012
    • 2ND REPORT CAL.
  • 14 / May / 2012
    • ADVANCED TO THIRD READING
  • 30 / May / 2012
    • PASSED SENATE
  • 30 / May / 2012
    • DELIVERED TO ASSEMBLY
  • 30 / May / 2012
    • REFERRED TO HOUSING

Summary

Includes mixed residential and commercial property within the provisions of the affordable home ownership development program thus authorizing the affordable housing corporation to fund the construction or rehabilitation of housing that also contains a commercial retailing business.

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Bill Details

See Assembly Version of this Bill:
A2515
Versions:
S755
Legislative Cycle:
2011-2012
Current Committee:
Law Section:
Private Housing Finance Law
Laws Affected:
Amd ยง1111, Priv Hous Fin L
Versions Introduced in Previous Legislative Cycles:
2009-2010: S1096, A4283
2007-2008: A4026

Sponsor Memo

BILL NUMBER:S755

TITLE OF BILL:

An act
to amend the private housing finance law, in relation to including
mixed residential and commercial property within the provisions of
the affordable home ownership development program

PURPOSE:

To authorize the Affordable Housing Corporation to fund the
construction or rehabilitation of housing that also contains a
commercial retailing business.

SUMMARY OF PROVISIONS:

This bill amends the definition of "home" contained in Section 1111
(1) of the Private Housing Finance Law to authorize the Affordable
Housing Corporation to provide funds for the construction or
rehabilitation of one- to four-family dwellings which have at least
one owner occupant and which may contain an area utilized for
commercial retailing business.

JUSTIFICATION:

Currently, the Affordable Home Ownership Development Program provides
eligible applicants funds for the construction or rehabilitation of
one- to four-family owner occupied housing. The program, though,
makes no provision for funding of residential dwellings that contain
ground level retail stores with the store owner living in another
housing unit within the building. By authorizing this type of housing
development, the State would be encouraging home ownership
opportunities with entrepreneurial activities. This type of program
could have an especially vital impact in blighted areas because it
would help revitalize neighborhoods from both a housing and an
economic growth perspective.

LEGISLATIVE HISTORY:
2009-2010: S.1096/A.4283 Referred to Housing, Construction
& Community Development
2007-2008: S.359/A.4026 Referred to Housing, Construction
& Community Development
2006: S.6244/A.9585 Reported to 3rd Reading Calendar
2005: A.704/S.6244 Referred to Housing
2003-2004: A.4509 Referred to Housing

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
This act shall take effect immediately.

view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                   755

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by  Sen.  YOUNG  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Housing, Construction  and
  Community Development

AN  ACT to amend the private housing finance law, in relation to includ-
  ing mixed residential and commercial property within the provisions of
  the affordable home ownership development program

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Subdivision  1  of  section  1111  of the private housing
finance law, as added by chapter 67 of the laws of 1985, is  amended  to
read as follows:
  1.  "Home" shall mean a one to four family dwelling which has at least
one owner occupant [or], an owner occupied unit in a  cooperative  or  a
condominium  OR  A  ONE  TO  FOUR FAMILY DWELLING WHICH HAS AT LEAST ONE
OWNER OCCUPANT AND CONTAINS AN AREA WHICH MAY BE UTILIZED FOR A  COMMER-
CIAL  RETAILING BUSINESS PROVIDED THAT THE PORTION OF THE PAYMENT, GRANT
OR LOAN FINANCED BY THE CORPORATION FOR SUCH COMMERCIAL  FACILITY  SHALL
NOT EXCEED TWENTY-FIVE PERCENT OF THE TOTAL PAYMENT, GRANT OR LOAN.
  S  2.    Subdivision  6 of section 1111 of the private housing finance
law, as amended by chapter 898 of the laws of 1986, is amended  to  read
as follows:
  6.  "Rehabilitation"  or "home improvement" shall mean all work neces-
sary to bring a structure into compliance with all applicable  laws  and
regulations  including  but not limited to the installation, replacement
or repair of heating, plumbing, electrical and related systems  and  the
elimination of all hazardous and immediately hazardous violations in the
structure  in  accordance  with  state and local laws and regulations of
state and local agencies. Rehabilitation or home  improvement  may  also
include  reconstruction  or  work to improve the habitability or prolong
the useful life of residential property OR MIXED RESIDENTIAL AND COMMER-
CIAL PROPERTY.
  S 3. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02505-01-1

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