Categories: New York State
05.29.2020
Capital Project Update
Although last month the NYS Division of Budget released Budget Bulletin B-1223 “pausing” all existing capital projects including supportive/affordable projects, the DOB has approved all OTDA HHAP and HCR 9% capital projects that have award letters to move toward closing. It is unclear at this time how future projects will be impacted.
NYS Legislature
The NYS Legislature was back in session passing a number of COVID-19 related bills including a bill extending the eviction moratorium for tenants unable to pay rent due to a financial hardship during COVID. The bill prohibits certain evictions from March 7th until the state’s restrictions related to COVID-19 are lifted in the affected tenant’s region (S08192-B / A10290-B). Tenants are still responsible for rent and landlords can seek a money judgement against them for nonpayment.
The Senate and Assembly also passed the Emergency Rent Relief Act of 2020 (S08419 / A10522) which would provide tenants who are unable to pay rent due to the coronavirus with rent vouchers from April 1 – July 1, 2020. It applies to renters whose rent is more than 30% of their income and who make no more than 80% of AMI both prior to March 7th and at the time of lost income. It would cover the difference between the applicant’s rent burden on March 1 and their rent burden now, and is limited to 125% FMR. The bill would be funded through $100M from the CARES Act.
These two bills are now with the Governor. It’s unclear if he will sign.
Additionally, last week, Assemblymember Steven Cymbrowitz and Senator Brian Kavanagh, Housing Chairs, introduced a bill (A10576/ S08488) to codify an ongoing five-year housing plan for affordable and supportive housing starting in 2022. The bill would commence on April 1, 2022 and require every fifth fiscal year thereafter, the Governor include as part of the annual executive budget, a statewide comprehensive five-year capital plan to support the development, preservation and capital improvement of affordable housing in NYS. The plan would support the development of supportive housing, preservation and/or capital improvement of public housing authorities, the development and/or rehab of senior affordable housing, the rehab of site-specific multi-family rental housing, the preservation and/or capital improvement of Mitchell-Lama properties, the promotion of home ownership among families of low-moderate-income, and the repair and or replacement of mobile and manufactured homes.