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Assembly Bill A328

2011-2012 Legislative Session

Authorizes municipalities to sell certain municipally owned dwellings to low/moderate income persons for nominal consideration

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Archive: Last Bill Status - In Assembly Committee

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2011-A328 (ACTIVE) - Details

Current Committee:
Assembly Housing
Law Section:
Private Housing Finance Law
Laws Affected:
Add Art VIII-C ยงยง480 & 481, Priv Hous Fin L
Versions Introduced in 2009-2010 Legislative Session:
A10675, A3798

2011-A328 (ACTIVE) - Summary

Authorizes municipalities to sell municipally owned 1-4 family residential dwellings requiring rehabilitation to persons of low and moderate income who are first-time homebuyers, for nominal consideration; defines "persons and families of low and moderate income" as persons and families who are determined by the municipality to be in the low and moderate income groups and who cannot afford to pay enough to cause private enterprise in the municipality to build a sufficient supply of adequate, safe and sanitary dwellings.

2011-A328 (ACTIVE) - Bill Text download pdf 

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

                                   328

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by M. of A. MONTESANO, MOLINARO, RAIA, SALADINO -- read once
  and referred to the Committee on Housing

AN ACT to amend the private housing finance law, in relation to enacting
  the state homesteading act

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

  Section  1. The private housing finance law is amended by adding a new
article 8-C to read as follows:
                              ARTICLE VIII-C
                         STATE HOMESTEADING ACT
SECTION 480. DEFINITIONS.
        481. STATE HOMESTEADING.
  S 480. DEFINITIONS. AS USED IN THIS ARTICLE, THE FOLLOWING TERMS SHALL
HAVE THE FOLLOWING MEANINGS:
  1. "PERSONS AND FAMILIES  OF  LOW  AND  MODERATE  INCOME"  SHALL  MEAN
PERSONS AND FAMILIES WHO ARE DETERMINED BY THE MUNICIPALITY TO BE IN THE
LOW  AND  MODERATE  INCOME GROUPS AND WHO CANNOT AFFORD TO PAY ENOUGH TO
CAUSE PRIVATE ENTERPRISE IN THEIR MUNICIPALITY  TO  BUILD  A  SUFFICIENT
SUPPLY OF ADEQUATE, SAFE AND SANITARY DWELLINGS.
  2. "MUNICIPALITY" SHALL MEAN ANY CITY, TOWN, VILLAGE OR COUNTY.
  3. "REHABILITATION" SHALL MEAN REPAIRS, ALTERATIONS OR IMPROVEMENTS OF
A HOUSING ACCOMMODATION DESIGNED TO RAISE THE HOUSING STANDARDS THEREIN.
  S 481. STATE HOMESTEADING. 1. NOTWITHSTANDING ANY GENERAL, SPECIAL, OR
LOCAL  LAW, A MUNICIPALITY IS HEREBY AUTHORIZED TO SELL UNOCCUPIED MUNI-
CIPALLY OWNED ONE- TO FOUR-FAMILY  RESIDENTIAL  DWELLINGS  THAT  REQUIRE
REHABILITATION  TO  PERSONS AND FAMILIES OF LOW AND MODERATE INCOME, WHO
ARE FIRST-TIME HOMEBUYERS, FOR NOMINAL CONSIDERATION.
  2. ANY CONTRACT BETWEEN THE MUNICIPALITY  AND  AN  ELIGIBLE  PURCHASER
MUST  PROVIDE  THAT  ALL CLOSING COSTS BE PAID BY THE PURCHASER AND THAT

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02307-01-1

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