Assembly Bill A7667

2017-2018 Legislative Session

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

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2017-A7667 (ACTIVE) - Details

Current Committee:
Assembly Housing
Law Section:
Private Housing Finance Law
Laws Affected:
Amd §1111, Priv Hous Fin L
Versions Introduced in Other Legislative Sessions:
2009-2010: A4283
2011-2012: A2515
2013-2014: A3212
2015-2016: A4023
2019-2020: A6183
2021-2022: A5631
2023-2024: A4679

2017-A7667 (ACTIVE) - 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.

2017-A7667 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7667
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                May 8, 2017
                                ___________
 
 Introduced  by  M. of A. FITZPATRICK, McKEVITT -- read once and referred
   to the Committee on Housing
 
 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.
   § 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.
   § 3. This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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