S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6290--A
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 3, 2025
                                ___________
 
 Introduced  by  M. of A. PEOPLES-STOKES -- read once and referred to the
   Committee on Housing -- committee discharged,  bill  amended,  ordered
   reprinted as amended and recommitted to said committee
 
 AN  ACT  to amend the private housing finance law, in relation to estab-
   lishing the block by block homeownership program

   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 33 to read as follows:
                              ARTICLE XXXIII
                   BLOCK BY BLOCK HOMEOWNERSHIP PROGRAM
 SECTION 1300. LEGISLATIVE PURPOSE.
         1301. BLOCK BY BLOCK HOMEOWNERSHIP PROGRAM.
   § 1300. LEGISLATIVE PURPOSE. IT IS  HEREBY  DECLARED  AND  FOUND  THAT
 THERE  EXISTS ACROSS UPSTATE NEW YORK, AND PARTICULARLY IN THE CITIES OF
 BUFFALO, ROCHESTER, SYRACUSE, ALBANY,  AND  BINGHAMTON,  A  SHORTAGE  OF
 AFFORDABLE  HOUSING  UNITS  AVAILABLE  FOR PURCHASE. IT IS FURTHER FOUND
 THAT HOMEOWNERSHIP IS ESSENTIAL FOR BUILDING  GENERATIONAL  WEALTH,  AND
 THAT  THE STATE THEREFORE HAS AN INTEREST IN PROMOTING HOMEOWNERSHIP. IN
 ORDER, FURTHER, TO PROMOTE HOMEOWNERSHIP, IT  IS  HEREBY  DECLARED  THAT
 ADDITIONAL  PROVISIONS  SHOULD  BE MADE TO PROVIDE PUBLIC MONIES FOR THE
 PURPOSES OF CONSTRUCTING, PRESERVING, AND REHABILITATING ONE- TO TWO-FA-
 MILY DWELLINGS ON UNDERUTILIZED  LAND  THROUGHOUT  THE  STATE,  WITH  AN
 EMPHASIS  ON  THE  CITIES  OF  BUFFALO, ROCHESTER, SYRACUSE, ALBANY, AND
 BINGHAMTON FOR PURCHASE BY LOW AND MODERATE INCOME BUYERS.  THE NECESSI-
 TY IN THE PUBLIC INTEREST FOR THE PROVISIONS OF THIS ARTICLE  IS  HEREBY
 DECLARED AS A MATTER OF LEGISLATIVE DETERMINATION.
   §  1301.  BLOCK  BY  BLOCK HOMEOWNERSHIP PROGRAM. 1.   THE DIVISION OF
 HOUSING AND COMMUNITY RENEWAL SHALL, SUBJECT TO APPROPRIATION, DEVELOP A
 PROGRAM  TO  MAKE  CAPITAL  SUBSIDIES  AVAILABLE  FOR  THE  PURPOSE   OF
 CONSTRUCTING,  PRESERVING,  AND REHABILITATING ONE- TO TWO-FAMILY DWELL-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02989-03-5
              

 A. 6290--A                          2
 
 INGS OUTSIDE OF A CITY WITH A POPULATION OF ONE  MILLION  OR  MORE.  THE
 COMMISSIONER  SHALL  PROMULGATE RULES AND REGULATIONS SUFFICIENT FOR THE
 CREATION OF A NEW PROGRAM FOR THE PURPOSE OF  CONSTRUCTING,  PRESERVING,
 AND REHABILITATING SUCH ONE- TO TWO-FAMILY DWELLINGS.
   2.  FUNDING FOR THE PROGRAM CREATED PURSUANT TO THIS ARTICLE SHALL, TO
 THE EXTENT PRACTICABLE, BE PRIORITIZED IN THE CITIES OF BUFFALO, ROCHES-
 TER, SYRACUSE, ALBANY, AND BINGHAMTON FOR DEVELOPMENT ON  VACANT,  ABAN-
 DONED, OR UNDERUTILIZED LAND OWNED BY THE MUNICIPALITY.
   3.  DWELLINGS CREATED PURSUANT TO THIS PROGRAM SHALL BE SOLD TO A NOT-
 FOR-PROFIT CORPORATION FOR THE PURPOSE OF RESALE OR INDIVIDUALS OR FAMI-
 LIES WHO ARE LOW OR MODERATE INCOME, AS DETERMINED BY  THE  DIVISION  OF
 HOUSING  AND  COMMUNITY  RENEWAL,  AT THE TIME OF SALE, WHO OWN NO OTHER
 REAL PROPERTY, AND WHO INTEND TO USE THE DWELLING AS THEIR PRIMARY RESI-
 DENCE.
   4. THE DIVISION OF HOUSING AND COMMUNITY RENEWAL  SHALL  RESTRICT  ANY
 SUBSEQUENT  DEED  OF  SALE TO AN INDIVIDUAL OR FAMILY OF LOW OR MODERATE
 INCOME, AS DETERMINED BY THE DIVISION OF HOUSING AND COMMUNITY  RENEWAL,
 WHO INTENDS TO MAKE THE DWELLING THEIR PRIMARY RESIDENCE.
   5.  NOTHING IN THIS ARTICLE SHALL PRECLUDE THE USE OF ADDITIONAL LOANS
 OR GRANTS IN CONJUNCTION WITH THIS PROGRAM.
   § 2. This act shall take effect immediately.