Bill Text: NY S02732 | 2021-2022 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Establishes the sustainable affordable housing incentive program to provide assistance in the form of payments, grants and loans for reasonable and necessary expenses to an eligible applicant for sustainable housing activities; defines terms.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2022-05-06 - PRINT NUMBER 2732A [S02732 Detail]

Download: New_York-2021-S02732-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          2732

                               2021-2022 Regular Sessions

                    IN SENATE

                                    January 22, 2021
                                       ___________

        Introduced  by Sen. KAVANAGH -- read twice and ordered printed, and when
          printed to be committed to the Committee on Housing, Construction  and
          Community Development

        AN  ACT  to amend the private housing finance law, in relation to estab-
          lishing the sustainable affordable housing incentive program

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1. The private housing finance law is amended by adding a new
     2  article 31 to read as follows:
     3                                ARTICLE XXXI
     4              SUSTAINABLE AFFORDABLE HOUSING INCENTIVE PROGRAM
     5  Section 1280. Statement of legislative findings and purpose.
     6          1281. Definitions.
     7          1282. Sustainable affordable housing incentive program.
     8    § 1280. Statement of legislative findings and purpose. The legislature
     9  finds and declares that climate change is having  a  significant  impact
    10  upon  our  environment, health, and safety and it is necessary to imple-
    11  ment programs and policies that immediately reduce greenhouse gas  emis-
    12  sions.  The  legislature  further  finds  that  residential housing is a
    13  source for such emissions and we can only address climate  change  in  a
    14  meaningful  manner  if  we  change  our  practices and behaviors as they
    15  relate to the construction of and improvements to such housing, such  as
    16  the  use  of environmentally-sensitive design and the construction prac-
    17  tices and materials; the installation of energy efficient products;  and
    18  access  to  renewable  energy  sources.    Establishing a new program to
    19  encourage and publicly subsidize more environmentally-friendly practices
    20  and materials will reduce greenhouse gas emissions from multi-unit hous-
    21  ing throughout New York state and help address climate change for future
    22  generations.
    23    § 1281. Definitions. For the purposes of this article,  the  following
    24  terms shall have the following meanings:

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06426-01-1
        S. 2732                             2

     1    1.  "Corporation" shall mean the housing trust fund corporation estab-
     2  lished in section forty-five-a of this chapter.
     3    2.  "Sustainable  affordable housing activities" shall mean activities
     4  by an eligible applicant for a specific work or series of works for  the
     5  creation,  preservation  or improvement of affordable housing which will
     6  reduce greenhouse gas emissions through the use of design, construction,
     7  materials and products, and access  to  renewable  energy  sources  that
     8  exceed  a  greenhouse gas emissions baseline for such housing, as deter-
     9  mined by the corporation in consultation with the New York state  energy
    10  research and development corporation.
    11    3.  "Eligible  applicant"  shall  mean a not-for-profit corporation or
    12  charitable organization, or a wholly-owned subsidiary of such  a  corpo-
    13  ration  or  organization,  or  a  private for-profit developer such as a
    14  person, corporation, partnership or limited liability company.
    15    4. "Affordable residential development" shall mean a  multiple  family
    16  dwelling which is subject to a regulatory agreement with a local, state,
    17  or federal government entity.
    18    §  1282.  Sustainable  affordable housing incentive program. 1. Within
    19  amounts appropriated or otherwise available  therefor,  the  corporation
    20  shall  develop and administer a sustainable affordable housing incentive
    21  program which shall provide assistance in the form of  payments,  grants
    22  and loans for reasonable and necessary expenses to an eligible applicant
    23  for sustainable housing activities.
    24    2. The corporation shall develop procedures, criteria and requirements
    25  related  to  the  application  and  award  of  projects pursuant to this
    26  section which shall include:   eligibility, market  demand,  feasibility
    27  and funding criteria; the funding determination process; supervision and
    28  evaluation  of  contracting applicants; reporting, budgeting and record-
    29  keeping requirements; provisions for  modification  and  termination  of
    30  contracts; and such other matters not inconsistent with the purposes and
    31  provisions  of  this  article as the corporation shall deem necessary or
    32  appropriate.
    33    § 2. This act shall take effect immediately.