Bill Text: NY A02570 | 2011-2012 | General Assembly | Introduced

---

Bill Title: Authorizes the purchase of dwelling units in public housing projects by residents thereof in certain instances; provides for the availability of loans for such purchase and technical assistance to prepare resident management associations undertaking the management of such project.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2012-05-08 - held for consideration in housing [A02570 Detail]

Download: New_York-2011-A02570-Introduced.html

---

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         2570
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                   January 19, 2011
                                      ___________
       Introduced  by  M.  of  A.  FITZPATRICK -- read once and referred to the
         Committee on Housing
       AN ACT to amend the public housing law, in relation to the  purchase  of
         dwelling units by residents of public housing projects
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1.   Section 58-a of the public  housing  law  is  amended  by
    2  adding a new subdivision 3 to read as follows:
    3    3.  (A)  SUBJECT  TO THE APPROVAL OF THE COMMISSIONER IN THE CASE OF A
    4  STATE PROJECT OR IN THE CASE OF DWELLING UNITS  OPERATED  AS  PUBLIC  OR
    5  INDIAN  HOUSING  PURSUANT TO THE PROVISIONS OF THE UNITED STATES HOUSING
    6  ACT OF 1937, AS AMENDED, AND THE LOCAL LEGISLATIVE BODY IN THE  CASE  OF
    7  MUNICIPAL  PROJECTS  AN  AUTHORITY SHALL PROVIDE TO THOSE RESIDENTS OF A
    8  PROJECT THE OPPORTUNITY TO PURCHASE DWELLING UNITS IN A PROJECT PROVIDED
    9  THAT:
   10    (I) THE RESIDENT HAS RESIDED IN PUBLIC HOUSING PROJECTS FOR  NOT  LESS
   11  THAN TWENTY-FOUR CONSECUTIVE MONTHS; AND
   12    (II)  IS  DETERMINED  BY  THE  AUTHORITY TO BE CAPABLE OF ASSUMING THE
   13  RESPONSIBILITIES OF HOMEOWNERSHIP; AND
   14    (III) COMPLIES WITH SUCH ADDITIONAL REQUIREMENTS AS  THE  COMMISSIONER
   15  OR  THE  AUTHORITY  MAY  ESTABLISH IN THE CASE OF A STATE OR A MUNICIPAL
   16  PROJECT.
   17    (B) ANY RESIDENT MEETING THE REQUIREMENTS OF  PARAGRAPH  (A)  OF  THIS
   18  SUBDIVISION  MAY  PURCHASE  HIS  OR  HER DWELLING UNIT DIRECTLY FROM THE
   19  AUTHORITY IF THE AUTHORITY DETERMINES THAT SUCH PURCHASE WILL NOT INTER-
   20  FERE WITH THE RIGHTS OF OTHER RESIDENTS RESIDING IN THE PROJECT OR  HARM
   21  THE  EFFICIENT  OPERATION  OF  SUCH PROJECT. SUCH PURCHASE OF A DWELLING
   22  UNIT BY A RESIDENT SHALL ALSO INCLUDE A FIXED PERCENTAGE OF  THE  COMMON
   23  ELEMENTS  OF  THE  PROJECT AS DETERMINED BY THE AUTHORITY. THE PRICE FOR
   24  ANY SUCH PURCHASE SHALL NOT BE MORE THAN THE FAIR MARKET  VALUE  OF  THE
   25  DWELLING UNIT AS DETERMINED BY THE AUTHORITY.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD02709-01-1
       A. 2570                             2
    1    (C)  FOR  THE PURPOSE OF ASSISTING ANY PURCHASE BY A RESIDENT PURSUANT
    2  TO THIS SUBDIVISION THE AUTHORITY INVOLVED OR ANY SUBSIDIARY CORPORATION
    3  OF SUCH AUTHORITY MAY MAKE A  LOAN  ON  THE  SECURITY  OF  THE  PROPERTY
    4  INVOLVED TO SUCH PURCHASING RESIDENT AT A RATE OF INTEREST DETERMINED BY
    5  THE AUTHORITY TO BE APPROPRIATE.
    6    (D)  IF  ANY  RESIDENT  PURCHASER  OF A DWELLING UNIT PURSUANT TO THIS
    7  SUBDIVISION SELLS SUCH DWELLING UNIT BEFORE THE  EXPIRATION  OF  A  FIVE
    8  YEAR  PERIOD,  SUCH  PURCHASER SHALL PAY THE FOLLOWING PERCENTAGE OF THE
    9  SALE PRICE TO THE AUTHORITY INVOLVED:
   10    (I) SEVENTY-FIVE PERCENT, IF SUCH SALE OCCURS  DURING  THE  FIRST  ONE
   11  YEAR PERIOD FOLLOWING SUCH DATE;
   12    (II)  SIXTY  PERCENT,  IF  SUCH SALE OCCURS DURING THE SECOND ONE YEAR
   13  PERIOD FOLLOWING SUCH DATE;
   14    (III) FORTY-FIVE PERCENT, IF SUCH SALE OCCURS  DURING  THE  THIRD  ONE
   15  YEAR PERIOD FOLLOWING SUCH DATE;
   16    (IV)  THIRTY  PERCENT,  IF SUCH SALE OCCURS DURING THE FOURTH ONE YEAR
   17  PERIOD FOLLOWING SUCH DATE; AND
   18    (V) FIFTEEN PERCENT, IF SUCH SALE OCCURS DURING  THE  FIFTH  ONE  YEAR
   19  PERIOD FOLLOWING SUCH DATE.
   20    (E)  THE  AUTHORITY  OR  ANY EXISTING TENANT MANAGEMENT CORPORATION OR
   21  ASSOCIATION SHALL CONTINUE TO MANAGE THE PROJECT AND PROVIDE MAINTENANCE
   22  FOR THE PROJECT UNTIL SUCH  TIME  AS  ALL  OF  THE  DWELLING  UNITS  ARE
   23  PURCHASED  BY  PROJECT  RESIDENTS AT WHICH TIME THE AFOREMENTIONED FUNC-
   24  TIONS SHALL BE TRANSFERRED TO A RESIDENT MANAGEMENT ASSOCIATION OR TO  A
   25  PRIVATE MANAGEMENT COMPANY.
   26    (F)  THE  COMMISSIONER  AND  THE AUTHORITY INVOLVED SHALL PROVIDE SUCH
   27  TRAINING, TECHNICAL ASSISTANCE AND EDUCATION  AS  MAY  BE  NECESSARY  TO
   28  PREPARE  THE RESIDENT MANAGEMENT ASSOCIATION TO UNDERTAKE THE MANAGEMENT
   29  AND MAINTENANCE OF SUCH PROJECT AND TO PREPARE  THE  RESIDENTS  FOR  THE
   30  RESPONSIBILITY OF HOMEOWNERSHIP.
   31    (G)  THE COMMISSIONER SHALL ISSUE SUCH REGULATIONS AS MAY BE NECESSARY
   32  TO CARRY OUT THE PROVISIONS OF THIS SUBDIVISION.  SUCH  REGULATIONS  MAY
   33  ESTABLISH ANY ADDITIONAL TERMS AND CONDITIONS FOR HOMEOWNERSHIP OR RESI-
   34  DENT  MANAGEMENT PURSUANT TO THIS SUBDIVISION THAT ARE DETERMINED BY THE
   35  COMMISSIONER TO BE APPROPRIATE.
   36    S 2. This act shall take effect immediately.