Bill Text: NY A06287 | 2015-2016 | General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Creates the "Peconic Bay Region Workforce Housing Opportunity Act".
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2016-05-25 - reported referred to ways and means [A06287 Detail]
Download: New_York-2015-A06287-Introduced.html
Bill Title: Creates the "Peconic Bay Region Workforce Housing Opportunity Act".
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2016-05-25 - reported referred to ways and means [A06287 Detail]
Download: New_York-2015-A06287-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
6287
2015-2016 Regular Sessions
I N A S S E M B L Y
March 20, 2015
___________
Introduced by M. of A. THIELE -- Multi-Sponsored by -- M. of A. SALADINO
-- read once and referred to the Committee on Housing
AN ACT to amend the private housing finance law, in relation to creating
the "Peconic Bay region workforce housing opportunity act"
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. This act may be cited as the "Peconic Bay region workforce
2 housing opportunity act".
3 S 2. Legislative findings. The legislature hereby finds that critical
4 to the future of the Peconic Bay region is the need to protect community
5 stability by providing for an adequate supply of workforce housing
6 opportunities for all segments of the Peconic Bay community.
7 The adverse impacts from the lack of housing opportunities are crit-
8 ical. For example, local employers have difficulty hiring and retaining
9 employees because of housing costs and availability. Local volunteer
10 emergency services agencies experience difficulty in recruitment and
11 retention. Long time residents are forced to leave the area. Traffic
12 congestion is exacerbated by the importation of labor from areas with
13 lower housing costs. Finally, the lack of affordable housing is result-
14 ing in residents being forced to live in substandard, illegal condi-
15 tions.
16 Unique demographics and economics in the Peconic Bay region, and a
17 lack of affordable dwelling units, are creating this housing shortage.
18 The combination of the Peconic Bay region's attractiveness, proximity to
19 the dense population of the New York metropolitan region, and proximity
20 to that region's extraordinary wealth, makes the Peconic Bay region a
21 prime location for seasonal and luxury homes.
22 While this combination of extraordinary attractiveness, population and
23 wealth has created a strong local economy for the Peconic Bay region, it
24 has resulted in housing problems for local families. In the Peconic Bay
25 region, 37% of all housing units are seasonal. The population of the
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD09980-01-5
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1 region increases from 125,000 to more than 320,000 during the summer
2 season.
3 In summary, the demand of land for luxury and seasonal homes and
4 seasonal rentals has left a short supply of housing opportunities for
5 moderate income and working class local residents. The Peconic Bay
6 region needs a balanced housing policy where there exists a variety of
7 housing types and opportunities across the region's economic spectrum.
8 It is the purpose of this legislation, to give the towns of the Pecon-
9 ic Bay region the authority and resources needed to establish community
10 housing opportunities. This legislation would permit each town to estab-
11 lish a dedicated community housing opportunity fund to increase housing
12 opportunities in the region.
13 Specifically, towns would be permitted to provide loans to those resi-
14 dents and families below the median income level of the town who are
15 first time home buyers. Said loans would be up to $200,000. Such a loan
16 would permit more residents and families to access the existing housing
17 market. Said loan would be repaid upon any future sale of the dwelling.
18 The repayment amount would be equal to an amount in proportion to the
19 resale price as the original proportion of the loan to the original sale
20 price.
21 This program would provide funding to increase workforce housing
22 opportunities. It would also permit families under the program to enjoy
23 a proportional benefit in the equity of their new home. Finally, upon
24 resale, the town's proportional interest would be returned to the fund
25 to finance future workforce housing opportunities.
26 Said fund would be financed by a combination of state and local funds,
27 including a fee on new residential construction over 3,000 square feet.
28 The fund and fee enacted by local law would be subject to a mandatory
29 referendum.
30 S 3. The private housing finance law is amended by adding a new arti-
31 cle 23 to read as follows:
32 ARTICLE XXIII
33 PECONIC BAY REGION WORKFORCE HOUSING OPPORTUNITY ACT
34 SECTION 1160. DEFINITIONS.
35 1161. FUND AUTHORIZED.
36 1162. PURPOSES OF THE FUND.
37 1163. WORKFORCE HOUSING IMPACT FEE.
38 1164. MANDATORY REFERENDUM.
39 1165. SEVERABILITY CLAUSE.
40 S 1160. DEFINITIONS. AS USED IN THIS ARTICLE, THE FOLLOWING WORDS AND
41 TERMS SHALL HAVE THE FOLLOWING MEANINGS:
42 1. "PECONIC BAY REGION" MEANS THE TOWNS OF EAST HAMPTON, RIVERHEAD,
43 SHELTER ISLAND, SOUTHAMPTON, AND SOUTHOLD.
44 2. "WORKFORCE HOUSING" SHALL BE DEFINED AS HOUSING FOR HOUSEHOLDS WITH
45 INCOMES AT OR BELOW ONE HUNDRED TWENTY PERCENT OF THE MEDIAN INCOME FOR
46 EACH TOWN WITHIN THE PECONIC BAY REGION.
47 3. "FUND" MEANS THE WORKFORCE HOUSING OPPORTUNITY FUND AUTHORIZED
48 PURSUANT TO THIS ARTICLE.
49 S 1161. FUND AUTHORIZED. THE TOWN BOARD OF ANY TOWN IN THE PECONIC BAY
50 REGION IS AUTHORIZED TO ESTABLISH BY LOCAL LAW A COMMUNITY HOUSING
51 OPPORTUNITY FUND, PURSUANT TO THE PROVISIONS OF THIS SECTION. DEPOSITS
52 INTO THE FUND MAY INCLUDE REVENUES OF THE LOCAL GOVERNMENT FROM WHATEVER
53 SOURCE, INCLUDING BUT NOT LIMITED TO:
54 1. ALL REVENUES FROM THE WORKFORCE HOUSING IMPACT FEE AUTHORIZED BY
55 SECTION ELEVEN HUNDRED SIXTY-THREE OF THIS ARTICLE;
56 2. GENERAL FUND BALANCES OR SURPLUSES;
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1 3. FUNDS RECEIVED BY THE TOWN FROM THE APPORTIONMENT OF MORTGAGE
2 RECORDING TAXES RECEIVED FROM THE COUNTY PURSUANT TO ARTICLE ELEVEN OF
3 THE TAX LAW;
4 4. FUNDS RECEIVED BY THE TOWN FROM THE SALE OF DEVELOPMENT RIGHTS FROM
5 A CENTRAL BANK;
6 5. THE REPAYMENT OF ANY LOANS ISSUED FROM PROCEEDS OF THE FUND;
7 6. ANY GIFTS OF INTERESTS IN LAND OR FUNDS; AND
8 7. ANY STATE OR FEDERAL GRANTS RECEIVED BY THE TOWN FOR PROVIDING
9 AFFORDABLE HOMES.
10 INTEREST ACCRUED BY MONIES DEPOSITED INTO THE FUND SHALL BE CREDITED
11 TO THE FUND. IN NO EVENT SHALL MONIES DEPOSITED INTO THE FUND BE TRANS-
12 FERRED TO ANY OTHER ACCOUNT. NOTHING CONTAINED IN THIS SECTION SHALL BE
13 CONSTRUED TO PREVENT THE FINANCING IN WHOLE OR IN PART, PURSUANT TO THE
14 LOCAL FINANCE LAW, OF ANY PURPOSE AUTHORIZED PURSUANT TO THIS SECTION.
15 MONIES FROM THE FUND MAY BE UTILIZED TO REPAY INDEBTEDNESS OR OBLI-
16 GATIONS INCURRED PURSUANT TO THE LOCAL FINANCE LAW CONSISTENT WITH
17 EFFECTUATING THE PURPOSES OF THIS SECTION.
18 S 1162. PURPOSES OF THE FUND. 1. THE PROCEEDS OF THE FUND ESTABLISHED
19 PURSUANT TO SECTION ELEVEN HUNDRED SIXTY-ONE OF THIS ARTICLE SHALL BE
20 UTILIZED (A) FOR THE PROVISION OF LOANS TO ELIGIBLE RESIDENTS OF THE
21 TOWN FOR THE PURCHASE OF A FIRST HOME PURSUANT TO THE PROVISIONS OF THIS
22 SECTION, (B) THE ACQUISITION OF COVENANTS, RESTRICTIONS, OR EASEMENTS
23 LIMITING EXISTING HOMES FOR WORKFORCE HOUSING, AND (C) THE PROVISION OF
24 HOUSING COUNSELING SERVICES BY NOT-FOR-PROFIT CORPORATIONS WHO ARE
25 AUTHORIZED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT TO
26 PROVIDE SUCH SERVICES.
27 2. A TOWN MAY MAKE A LOAN TO A RESIDENT OF THE TOWN FOR THE PURCHASE
28 OF A FIRST HOME FOR THE PURPOSE OF WORKFORCE HOUSING. SAID LOAN SHALL
29 NOT EXCEED TWO HUNDRED THOUSAND DOLLARS PER HOME. SAID LOAN SHALL BE
30 REPAYABLE TO THE TOWN UPON THE RE-SALE OF THE HOME. THE REPAYMENT TO THE
31 TOWN SHALL BE AN AMOUNT EQUAL TO THE PROPORTION OF THE ORIGINAL LOAN
32 FROM THE TOWN TO THE ORIGINAL PURCHASE PRICE TO THE RESALE PRICE.
33 3. ALL REVENUES RECEIVED BY THE TOWN FROM THE REPAYMENT OF LOANS SHALL
34 BE DEPOSITED IN THE FUND.
35 S 1163. WORKFORCE HOUSING IMPACT FEE. EACH TOWN IS HEREBY AUTHORIZED
36 TO IMPOSE, COLLECT, AND DISBURSE, AS SET FORTH IN THIS SECTION, A FEE ON
37 ALL NEW RESIDENTIAL CONSTRUCTION. SAID FEE SHALL BE IMPOSED ON NEW RESI-
38 DENTIAL CONSTRUCTION WHERE THE TOTAL FLOOR AREA OF SAID CONSTRUCTION
39 EXCEEDS THREE THOUSAND SQUARE FEET. SAID FEE SHALL BE SET BY THE TOWN
40 BOARD, BUT SHALL NOT EXCEED EIGHT DOLLARS PER SQUARE FOOT IN EXCESS OF
41 THREE THOUSAND SQUARE FEET. SAID FEE SHALL BE PAID UPON THE ISSUANCE OF
42 A BUILDING PERMIT BY THE TOWN. THE PROCEEDS OF SAID FEE SHALL BE DEPOS-
43 ITED IN THE COMMUNITY HOUSING OPPORTUNITY FUND CREATED BY THE TOWN
44 PURSUANT TO SECTION ELEVEN HUNDRED SIXTY-ONE OF THIS ARTICLE. HOUSING
45 CONSTRUCTION WHICH IS RESTRICTED TO WORKFORCE HOUSING SHALL BE EXEMPT
46 FROM THIS FEE.
47 S 1164. MANDATORY REFERENDUM. THE LOCAL LAW OR LAWS ESTABLISHING THE
48 WORKFORCE HOUSING OPPORTUNITY FUND AND AUTHORIZING THE WORKFORCE HOUSING
49 IMPACT FEE SHALL BE SUBJECT TO A MANDATORY REFERENDUM. SAID LOCAL LAW OR
50 LAWS SHALL ONLY BECOME EFFECTIVE UPON THE ADOPTION OF SAID REFERENDUM BY
51 THE ELECTORS OF THE TOWN.
52 S 1165. SEVERABILITY CLAUSE. IF ANY PROVISION OF THIS ARTICLE OR
53 APPLICATION THEREOF SHALL FOR ANY REASON BE ADJUDGED BY ANY COURT OF
54 COMPETENT JURISDICTION TO BE INVALID, SUCH JUDGMENT SHALL NOT AFFECT,
55 IMPAIR, OR INVALIDATE THE REMAINDER OF THE ACT, BUT SHALL BE CONFINED IN
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1 ITS OPERATION TO THE PROVISION THEREOF DIRECTLY INVOLVED IN THE CONTRO-
2 VERSY IN WHICH THE JUDGMENT SHALL HAVE BEEN RENDERED.
3 S 4. This act shall take effect immediately.
