7. "Corporation" shall mean the affordable housing corporation created by section forty-five-b of this chapter. 8. "Affordable home ownership development programs" or "Project" shall mean the rehabilitation, improvement, construction or acquisition, singly or in combination, of one or more homes. to § 1112. Affordable home ownership development contracts. 1. Within the limit of funds available in the affordable housing development account, the corporation is hereby authorized to enter into contracts with eligible applicants to provide grants which such applicants shall use finance affordable home ownership development programs subject to the terms and conditions of this article. Grantees shall utilize funds provided pursuant to this article solely as payments, grants and loans to owners to reduce the costs of the new construction or the rehabilitation or improvement of homes. Such financial assistance may be in the form of loans, participation in loans including but not limited to participation in loans originated or financed by lending institutions as defined in section forty-two of this chapter, private or public employee pension funds or the state of New York mortgage agency, or grants, on such terms and conditions as the grantee with the approval of the corporation shall determine, provided that no such payments, grants and loans shall exceed the lesser of fifteen thousand dollars per dwelling unit or forty percent of the project cost. No more than fifty percent of the total amount appropriated pursuant to this article in any fiscal year shall be allocated to homes located within any single municipality. 2. The corporation shall not enter into a contract under this article except with an eligible applicant which has submitted an application pursuant to a request for proposals issued by the corporation which application contains a plan acceptable to the corporation which provides that: (a) The proposed project or program will make home ownership or home improvement affordable to persons who cannot afford to Own or improve homes by relying upon the ordinary unaided operation of private enterprise. (b) There shall be criteria, statisfactory to the corporation, which provide for maximum income limitations or a system of income targeting designed to ensure that persons who purchase or improve homes which benefit from financial assistance provided pursuant to this article, are persons who would be unable to own or improve homes produced by the ordinary unaided operation of private enterprise. (c) The payments, grants and loans provided by grantees pursuant to this article will be supplemented by private or other public investment and the payments, grants and loans provided by the grantee are the least necessary to make home ownership or improvement affordable to the income group to be served by the proposed project or program. (d) The proposed project or projects, if not built or rehabilitated by a not-for-profit corporation, will be built or rehabilitated by a private developer/builder who has agreed to limit his profit in accordance with a formula, satisfactory to the corporation, which has been established by the grantee. (e) The proposed project or program will provide assistance in an area which is blighted, deteriorated or deteriorating, or has a blighting influence on the surrounding area, or is in danger of becoming a slum or a blighted area because of the existence of substandard, insanitary, deteriorating or deteriorated conditions, an aged housing stock, or vacant non-residential property, or other factors indicating an inability or unwillingness of the private sector unaided to cause the construction, rehabilitation or home improvement for which payments, grants and loans under this article is provided. (f) In the case of a new construction project or program, homebuyers will occupy homes as their principal place of residence and payments, grants and loans provided for the benefit of the homebuyer will be recaptured by the grantee or the future resale price of the home will be limited by the grantee if the homebuyer does not occupy the home as the homebuyer's principal place of residence for a reasonable set period of time satisfactory to the corporation. (g) In the case of a home improvement program, the majority of payments, grants and loans provided for each home shall be used to perform work which prolongs the useful life of the home or shall be used to correct basic structural defects or to repair basic building systems EXPLANATION-Matter in italics is new; matter in brackets [ ] is old law which threaten or if not corrected or repaired could threaten the health and safety of the dwelling's residents. 3. In determining awards pursuant to this article the corporation shall give preference to applications based upon the extent to which the proposed program or project will: (a) Serve the lowest income households in the applicable region and is designed to continue to be affordable to such households for a substantial period of time. (b) Leverage private and other public investment so as to reduce the amount of assistance provided pursuant to this article which is necessary to operate or establish the program or projects. (c) Contribute to the development of the neighborhood or community in which the program or project is located and not directly displace current low and moderate income residents of such neighborhood or community. (d) Be undertaken and completed in a timely fashion. costs (e) Utilize innovative, cost effective design techniques and building materials, which reduce construction, rehabilitation or operating including, but not limited to factory built or modular homes. 4. The corporation shall not provide a grant to an eligible applicant pursuant to this article unless the corporation determines that there is a strong probability that the non-state investment in the applicant's proposed program would not be made without the grant and that the grant will not substitute for non-state funds which would be otherwise available to the program. 5. The corporation shall provide for the review, at periodic intervals not less than annually, of the performance of grantees receiving financial assistance pursuant to this article. Such review shall, among other things, be for the purposes of ascertaining conformity to contractual provisions, the financial integrity and efficiency of grantees and the evaluation of the grantees' activities. Contracts entered into pursuant to this article may be terminated, funds may be withheld and unspent funds recaptured by the corporation upon a finding of substantial nonperformance or breach by the grantee of its obligations under its contract. § 1113. General and administrative provisions. 1. The corporation shall issue and promulgate rules and regulations for the administration of this article. The rules and regulations shall include provisions concerning eligibility of grantees for state financial assistance; funding criteria and the funding determination process; supervision and evaluation of the contracting grantees; reporting, budgeting and recordkeeping requirements; provisions for modification, termination, extension and renewal of contracts; and such other matters not inconsistent with the purposes and provisions of this article as the corporation shall deem necessary, proper or appropriate. Grantees shall deposit, any funds received from the repayment of loans or interest received on loans into the affordable home ownership development account. 2. (a) The corporation shall, on or before June fifteenth, in each year submit for the preceding fiscal year, a report to the legislature on the implementation of this article. Such report shall include but not be limited to (i) a description of the distribution of funds pursuant to this article, (ii) the amount of each payment, loan and grant and the identity of recipients thereof, (iii) for each grantee receiving payments, grants or loans under this article, such grantee's address and executive director's name, a description of such grantee's contract amount and cumulative total of contract amounts, a narrative description of the specific activities performed by such grantee and the quantified results thereof expressed as housing units, (iv) outstanding loans and grants, (v) methods of selection of grantees, (vi) location of homes and (vii) number of units of each category of homes completed during the year or in process. (b) The corporation shall, on or before September fifteenth in each year, submit a proposed budget for the operation of the corporation for its next fiscal year to the director of the budget for his review. The chairman of the corporation shall also deliver a copy of such budget to the chairman of the senate finance committee and the chairman of the assembly ways and means committee at the same time that the budget is delivered to the director of the budget. The budget shall include the total amount needed for corporate purposes, including the funds required by the corporation for its general and administrative expenses, the source of all funds that the corporation expects to receive and such other information as the director of the budget shall require. § 3. Such law is amended by adding two new sections fifty-nine-a and fifty-nine-b to read as follows: § 59-a. Housing trust fund account. The housing trust fund corporation created by section forty-five-a of this chapter shall create and establish a special account to be known as the housing trust fund account and shall pay into such account any moneys which may be made available to such corporation for the purposes of such account from any source including but not limited to moneys appropriated by and made available pursuant to appropriation by the state and any income or interest earned by, or increment to, the account due to the investment thereof or loans made pursuant to article eighteen of this chapter. The moneys held in or credited to the housing trust fund account established under this section shall be expended solely to carry out the provisions of article eighteen of this chapter. § 59-b. Affordable housing development account. The affordable housing corporation created by section forty-five-b of this chapter shall create and establish a special account to be known as the affordable housing development account and shall pay into such account any moneys which may be made available to such corporation for the purposes of such account from any source including but not limited to moneys appropriated by and made available pursuant to appropriation by the state and any income or interest earned by, or increment to, the account due to the investment thereof or loans made pursuant to article nineteen of this chapter. The moneys held in or credited to the affordable housing development account established under this section shall be expended solely to carry out the provisions of article nineteen of this chapter. § 4. Subdivision c of section YY51-3.0 of the administrative code of the city of New York, as amended by chapter five hundred fifty-five of the laws of nineteen hundred eighty-two, is amended to read as follows: C. Buildings or structures, not owned as a cooperative or as a condominium, except as provided in section three hundred fifty-two-eeee of the general business law, or housing accommodation in such buildings or structures eligible to receive the benefits of section J51-2.5 or section J51-5.0 of the administrative code of the city of New York or article eighteen of the private housing finance law and not subject to the provisions of title Y of this code where the owner thereof subjects such buildings and structures to regulation under this title YY. con § 5. Subdivision a of section five of section four of chapter five hundred seventy-six of the laws of nineteen hundred seventy-four, stituting the emergency tenant protection act of nineteen seventy-four, is amended by adding a new paragraph twelve to read as follows: (12) Notwithstanding any other provision provision of this section, nothing shall prevent the declaration of an emergency pursuant to section three of this act for rental housing accommodations located in buildings or structures which are subject to the provisions of article eighteen of the private housing finance law. § 6. The real property tax law is amended by adding a new section four hundred twenty-one-e to read as follows: § 421-e. Exemption of cooperative or condominium, homesteading and rental rehabilitation projects from local taxation. The local legislative body of any city, town or village is hereby authorized and empowered to adopt and amend a local law to provide that any cooperative or condominium or homesteading or rental rehabilitation project which receives payments, grants or loans pursuant to article eighteen of the private housing finance law shall be exempt from taxation as provided in such local law. Such local law may provide that such eligible property shall be exempt from all or any portion of the taxes imposed by a municipality, including those imposed by a school district, other than assessments for local improvements for so long as the cooperative or condominium, homesteading or rental rehabilitation project is subject to the provisions of article eighteen of the private housing finance law EXPLANATION-Matter in italics is new; matter in brackets [ ] is old law but in no case to exceed twenty years in the aggregate after the taxable status date immediately following the completion thereof, calculated not to exceed the following exemptions: twelve years of full exemption followed by two years of exemption from eighty percent of such taxation, followed by two years of exemption from sixty percent of such taxation, followed by two years of exemption from forty percent of such taxation, followed by two years of exemption from twenty percent of such taxation; provided that the tax exemption authorized by this section shall be in addition to any other tax exemption or abatement authorized by law. § 7. The sum of twenty-five million dollars ($25,000,000), or so much thereof as may be necessary, is hereby appropriated to the housing trust fund corporation for deposit in the housing trust fund account created pursuant to section fifty-nine-a of the private housing finance law out of any moneys in the state treasury in the capital projects fund not otherwise appropriated for the purposes of carrying out the provisions of article eighteen of the private housing finance law. The housing trust fund corporation shall not expend more than one and one-half percent of the amount appropriated hereby to pay for its actual and necessary costs of administering the low income housing trust fund program established pursuant to such article. No expenditure shall be made from this appropriation until a certificate of approval of availability shall have been issued by the director of the budget and a copy of such certificate filed with the state comptroller, the chairman of the senate finance committee and the chairman of the assembly ways and means committee. Such certificate may be amended from time to time, subject to the approval of the director of the budget, and a copy of each such amendment shall be filed with the state comptroller, the chairman of the senate finance committee and the chairman of the assembly ways and means committee. out § 8. The sum of twenty-five million dollars ($25,000,000), or so much thereof as may be necessary, is hereby appropriated to the affordable housing corporation for deposit in the affordable housing development account created pursuant to section fifty-nine-b of the private housing finance law out of any moneys in the state treasury in the capital projects fund not otherwise appropriated for the purposes of carrying the provisions of article nineteen of the private housing finance law. The affordable housing corporation shall not expend more than one and one-half percent of the amount appropriated hereby to pay for its actual and necessary costs of administering the affordable home ownership development program established by such article. No expenditure shall be made from this appropriation until a certificate of approval of availability shall have been issued by the director of the budget and a copy of such certificate filed with the state comptroller, the chairman of the senate finance committee and the chairman of the assembly ways and means committee. Such certificate may be amended from time to time subject to the approval of the director of the budget, and a copy of each such amendment shall be filed with the state comptroller, the chairman of the senate finance committee and the chairman of the assembly ways and means committee. to § 9. Separability. If any clause, sentence, paragraph, section or part of this act shall be adjudged by any court of competent jurisdiction be invalid, such judgment shall not affect, impair or invalidate the remainder hereof, but shall be confined in its operation to the clause, sentence, paragraph, section or part thereof directly involved in the controversy in which such judgment shall have been rendered. § 10. This act shall take effect immediately provided that the amendment to section YY51-3.0 of the rent stabilization law of nineteen hundred sixty-nine made by section four of this act shall expire on the same date as such law expires and shall not affect the expiration of such law as provided under section YY51-8.0 of such law; and provided further that the amendment to section five of the emergency tenant protection act of nineteen seventy-four made by section five of this act shall expire on the same date as such act expires and shall not affect the expiration of such act as enacted by chapter five hundred seventysix of the laws of nineteen hundred seventy-four, as last extended by chapter four hundred three of the laws of nineteen hundred eighty-three. CHAPTER 68 AN ACT in relation to the naming of the supreme court library at Became a law April 19, 1985, with the approval of the Governor. The People of the State of New York, represented in Senate and Assembly, do enact as follows: Section 1. The Ulster county law library located in the county courthouse in the city of Kingston, New York, shall be continued as a supreme court library and shall be known as "The Honorable John L. Larkin Supreme Court Library". The library shall be under the care and management of the chief administrator of the courts. § 2. This act shall take effect immediately. CHAPTER 69 AN ACT to amend the state finance law, in relation to apportionment of revenue sharing aid, needs based aid and special city, town and village aid and making an appropriation therefor Became a law April 25, 1985, with the approval of the Governor. Passed on message of necessity pursuant to Article III, section 14 of the Constitution by a majority vote, three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows: Section 1. The opening paragraph of subdivision one of section fiftyfour of the state finance law, as added by chapter one hundred eightytwo of the laws of nineteen hundred sixty-five, is amended to read as follows: When used in this subdivision, and in subdivisions two through four, nine, ten and eleven of this section, unless otherwise expressly stated: § 2. Subparagraph six of paragraph a of subdivision one of section fifty-four of such law, as amended by chapter one thousand seventeen of the laws of nineteen hundred sixty-six, is amended to read as follows: (6) Where the director of the United States bureau of the census certifies that the population of a county, city, town or village, as shown by such latest preceding decennial or special population census should be corrected because it, (a) excludes a specified number of persons who were actually residing in such county, city, town or village at the time of such census, or (b) includes a specified number of persons who were not actually residing in such county, city, town or village at the time of such census, a copy of such certificate shall be filed by the locality or state agency receiving such certificate with the state comptroller within ten days of receipt. In the case of a gain in population, the specified number shall be added to the population on the basis of which moneys are apportioned [and paid] under the provisions of divisions two through four of this section in state fiscal years subsequent to the date such certificate is filed with the state comptroller. In the case of a loss in population, the specified number shall be subtracted from the population of such county, city, town or village on the basis of which moneys are apportioned [and paid] under the provisions of subdivisions two through four of this section commencing with the first state fiscal year beginning not less than six months after the date such certificate is required to be filed with the state comptroller. sub § 3. The fifth and sixth unnumbered subparagraphs of paragraph c of subdivision one of section fifty-four of such law, as amended by chapter EXPLANATION-Matter in italics is new; matter in brackets [ ] is old law |