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A 2633 - Authorizes Towns in the Peconic Bay Region to Establish a Community Housing Fund - New York Key Vote

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Title: Authorizes Towns in the Peconic Bay Region to Establish a Community Housing Fund

Signed by Governor Kathy Hochul


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Title: Authorizes Towns in the Peconic Bay Region to Establish a Community Housing Fund

Vote Smart's Synopsis:

Vote to pass a bill that authorizes towns in the Peconic Bay region to establish community housing funds that is funded by a supplemental real estate transfer tax.

Highlights:

 

  • Authorizes towns in the Peconic Bay region to establish a community housing fund (Sec. 3).

  • Defines the “Peconic Bay region” as the towns of East Hampton, Riverhead, Shelter Island, Southampton, and Southold (Sec. 3).

  • Defines “community housing” as a primary residential property for an eligible individual that does not exceed 150 percent of the purchase price limits established by the state (Sec. 3).

  • Authorizes a town to provide financial assistance for the purchase of a first-time home to a first-time home buyer in the form of a grant or loan from the community housing fund (Sec. 3).

Full Bill Text

Title: Authorizes Towns in the Peconic Bay Region to Establish a Community Housing Fund

Title: Authorizes Towns in the Peconic Bay Region to Establish a Community Housing Fund

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