S T A T E O F N E W Y O R K
________________________________________________________________________
413
2009-2010 Regular Sessions
I N A S S E M B L Y
(PREFILED)
January 7, 2009
___________
Introduced by M. of A. KAVANAGH -- read once and referred to the Commit-
tee on Housing
AN ACT to amend the private housing finance law, in relation to changing
the composition and membership requirements of the housing finance
agency's board of directors and expanding the agency's reporting and
publication requirements
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivisions 1 and 3 of section 43 of the private housing
finance law, subdivision 1 as added and subdivision 3 as amended by
chapter 528 of the laws of 1969, are amended to read as follows:
1. There is hereby created the "New York state housing finance agen-
cy". The agency shall be a corporate governmental agency constituting a
public benefit corporation. Its membership shall consist of the commis-
sioner of housing and community renewal, the director of the budget, the
commissioner of taxation and finance [and four], ONE MEMBER TO BE
APPOINTED BY THE TEMPORARY PRESIDENT OF THE SENATE, ONE MEMBER TO BE
APPOINTED BY THE SPEAKER OF THE ASSEMBLY, ONE MEMBER TO BE APPOINTED BY
THE MINORITY LEADER OF THE SENATE, ONE MEMBER TO BE APPOINTED BY THE
MINORITY LEADER OF THE ASSEMBLY, THREE members to be appointed by the
governor with the advice and consent of the senate AND ONE MEMBER TO BE
APPOINTED BY THE STATE COMPTROLLER. [The members first appointed by the
governor shall serve for terms ending three, four, five and six years
respectively from January first next succeeding the date of their
appointment. Their successors shall serve for terms of six years each.]
ALL MEMBERS SHALL SERVE FOR FOUR YEAR TERMS. Members shall continue in
office until their successors have been appointed and qualified. In the
event of a vacancy occurring in the office of any member by death,
resignation or otherwise, the governor shall appoint a successor with
the advice and consent of the senate to serve for the balance of the
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD00823-01-9
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unexpired term. The provisions of section thirty-nine of the public
officers law shall apply to such members.
3. Such members other than the commissioner of housing and community
renewal, the director of the budget, the commissioner of taxation and
finance and the chairman if he be a full time officer or employee of the
agency, may engage in private employment, or in a profession or busi-
ness, subject to the limitations contained in sections seventy-three and
seventy-four of the public officers law. The agency shall, for the
purposes of sections seventy-three and seventy-four of the public offi-
cers law, be a "state-agency," and such members shall be "officers" of
the agency for the purposes of said sections. ANY PERSON WHO IS A
REGISTERED LOBBYIST OR WHO HAS A FINANCIAL INTEREST IN A FOR-PROFIT
HOUSING DEVELOPMENT OR HOUSING FINANCE CORPORATION SHALL NOT SERVE AS A
MEMBER OF THE AGENCY.
S 2. Subdivision 1 of section 56 of the private housing finance law,
as amended by chapter 396 of the laws of 1984, is amended to read as
follows:
1. The agency shall submit to the governor, [the chairman of the
senate finance committee, the chairman of the assembly ways and means
committee,] the comptroller [and], the director of the budget AND EACH
MEMBER OF THE LEGISLATURE within ninety days after the end of its fiscal
year, a complete and detailed report setting forth: (1) its operations
and accomplishments PARTICULARLY INCLUDING THE TOTAL NUMBER OF AFFORDA-
BLE UNITS FINANCED BY THE AGENCY, THE HARD AND SOFT COSTS PER SQUARE
FOOT FOR EACH UNIT FINANCED, A LIST OF NAMES OF THE DEVELOPMENT COMPA-
NIES FINANCED BY THE AGENCY AND THE TOTAL AMOUNT OF FINANCING PER COMPA-
NY; (2) its receipts and expenditures during such fiscal year in accord-
ance with the categories or classifications established by the agency
for its operating and capital outlay purposes, including a listing of
all private consultants engaged by the agency on a contract basis and a
statement of the total amount paid to each such private consultant; (3)
its assets and liabilities at the end of its fiscal year, including a
schedule of its mortgage loans and commitments and the status of
reserve, special or other funds; and (4) a schedule of its bonds and
notes outstanding at the end of its fiscal year, together with a state-
ment of the amounts redeemed and incurred during such fiscal year.
S 3. The opening paragraph of section 56 of the private housing
finance law is amended to read as follows:
The agency shall submit to the governor, [the chairman of the senate
finance committee, the chairman of the assembly ways and means commit-
tee,] the comptroller [and], the director of the budget AND EACH MEMBER
OF THE LEGISLATURE within ninety days after the end of its fiscal year,
a complete and detailed report setting forth: (1) its operations and
accomplishments PARTICULARLY INCLUDING THE TOTAL NUMBER OF AFFORDABLE
UNITS FINANCED BY THE AGENCY, THE HARD AND SOFT COSTS PER SQUARE FOOT
FOR EACH UNIT FINANCED, A LIST OF NAMES OF THE DEVELOPMENT COMPANIES
FINANCED BY THE AGENCY AND THE TOTAL AMOUNT OF FINANCING PER COMPANY;
(2) its receipts and expenditures during such fiscal year in accordance
with the categories or classifications established by the agency for its
operating and capital outlay purposes, including a listing of all
private consultants engaged by the agency on a contract basis and a
statement of the total amount paid to each such private consultant; (3)
its assets and liabilities at the end of its fiscal year, including a
schedule of its mortgage loans and commitments and the status of
reserve, special or other funds; and (4) a schedule of its bonds and
A. 413 3
notes outstanding at the end of its fiscal year, together with a state-
ment of the amounts redeemed and incurred during such fiscal year.
S 4. The private housing finance law is amended by adding a new
section 56-b to read as follows:
S 56-B. PUBLICATION REQUIRED. 1. THE AGENCY SHALL ISSUE AND POST IN
STATEWIDE AND LOCAL NEWSPAPERS, AND ON ITS WEBSITE, NOTICES WHENEVER
FINANCING IS AVAILABLE, OR THREE TIMES A YEAR, WHICHEVER IS GREATER.
2. THE AGENCY SHALL PUBLISH THE DATE, TIME, LOCATION AND AGENDA OF
EACH PUBLIC MEETING ON THE AGENCY'S WEBSITE AND SUCH INFORMATION SHALL
BE PUBLISHED AT LEAST FOURTEEN DAYS PRIOR TO THE DATE OF EACH MEETING.
THE MINUTES OF EACH BOARD MEETING OF THE AGENCY SHALL BE MADE AVAILABLE
ON THE AGENCY'S WEBSITE WITHIN TEN DAYS AFTER THE MEETING AND SHALL
INCLUDE THE MINUTES ON ANY VOTE OF THE BOARD OF DIRECTORS THAT OCCURRED
DURING SUCH MEETING.
3. THE AGENCY SHALL MAKE ALL OF ITS PENDING PROJECT DOCUMENTS AVAIL-
ABLE ON ITS WEBSITE AT LEAST FOURTEEN CALENDAR DAYS PRIOR TO THE DATE ON
WHICH A VOTE ON ANY SUCH PROJECT IS TO OCCUR.
4. THE AGENCY SHALL ALSO POST ITS PROJECT FUNDING SELECTION CRITERIA
ON ITS WEBSITE; HOLD BIDDERS' CONFERENCES AROUND THE STATE WITH POTEN-
TIAL BIDDERS; MAKE PUBLIC ANNOUNCEMENT OF ITS AWARDS ON ITS WEBSITE; AND
PROVIDE AN OPPORTUNITY FOR UNSUCCESSFUL BIDDERS TO LEARN WHY THEIR BIDS
WERE REJECTED.
5. THE AGENCY SHALL DEVELOP AND IMPLEMENT A REQUEST FOR PROPOSAL PROC-
ESS FOR ITS ALLOCATION OF THE NINE PERCENT LOW INCOME HOUSING TAX CRED-
ITS, AUTHORIZED PURSUANT TO SECTION EIGHTEEN OF THE TAX LAW AND ARTICLE
TWO-A OF THE PUBLIC HOUSING LAW, WITHIN THIRTY DAYS OF THE EFFECTIVE
DATE OF THIS SUBDIVISION.
S 5. This act shall take effect immediately, provided that the amend-
ments to section 56 of the private housing finance law made by section
two of this act shall be subject to the expiration and reversion of such
section pursuant to section 7 of chapter 396 of the laws of 1984, as
amended, when upon such date the provisions of section three of this act
shall take effect.