Bill Text: NY A07667 | 2017-2018 | General Assembly | Introduced

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Bill Title: Includes mixed residential and commercial property within the provisions of the affordable home ownership development program thus authorizing the affordable housing corporation to fund the construction or rehabilitation of housing that also contains a commercial retailing business.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2018-04-24 - held for consideration in housing [A07667 Detail]

Download: New_York-2017-A07667-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          7667
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                       May 8, 2017
                                       ___________
        Introduced  by  M. of A. FITZPATRICK, McKEVITT -- read once and referred
          to the Committee on Housing
        AN ACT to amend the private housing finance law, in relation to  includ-
          ing mixed residential and commercial property within the provisions of
          the affordable home ownership development program
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Subdivision 1  of  section  1111  of  the  private  housing
     2  finance  law,  as added by chapter 67 of the laws of 1985, is amended to
     3  read as follows:
     4    1. "Home" shall mean a one to four family dwelling which has at  least
     5  one  owner  occupant  [or], an owner occupied unit in a cooperative or a
     6  condominium or a one to four family dwelling  which  has  at  least  one
     7  owner  occupant and contains an area which may be utilized for a commer-
     8  cial retailing business provided that the portion of the payment,  grant
     9  or  loan  financed by the corporation for such commercial facility shall
    10  not exceed twenty-five percent of the total payment, grant or loan.
    11    § 2.  Subdivision 6 of section 1111 of  the  private  housing  finance
    12  law,  as  amended by chapter 898 of the laws of 1986, is amended to read
    13  as follows:
    14    6. "Rehabilitation" or "home improvement" shall mean all  work  neces-
    15  sary  to  bring a structure into compliance with all applicable laws and
    16  regulations including but not limited to the  installation,  replacement
    17  or  repair  of heating, plumbing, electrical and related systems and the
    18  elimination of all hazardous and immediately hazardous violations in the
    19  structure in accordance with state and local  laws  and  regulations  of
    20  state  and  local  agencies. Rehabilitation or home improvement may also
    21  include reconstruction or work to improve the  habitability  or  prolong
    22  the useful life of residential property or mixed residential and commer-
    23  cial property.
    24    § 3. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11143-01-7