Presentation on theme: "Affordable and Accessible Workforce Trust Fund A Comprehensive Housing Production, Rehabilitation, and Preservation Program for New York State Providing."— Presentation transcript:
Affordable and Accessible Workforce Trust Fund A Comprehensive Housing Production, Rehabilitation, and Preservation Program for New York State Providing Affordable and Accessible Housing for Homeless, Low-, Moderate-, and Middle-Income Families, the Elderly, and People with Disabilities. CONFIDENTIAL DRAFT
Five New Programs Affordable Multi-Family Workforce Housing Development Loans Supportive Housing Development Loans Rehabilitation Loans and Access to Home Grants Infrastructure and Incentive Grants Matching Grants for Local Trusts
Distribution of Funds by Program
Affordable Multi-Family Workforce Housing Development Loans Creates a new $250 Million per year “Mitchell Lama” type housing development program serving households with incomes up to 150% of median (250% in high cost areas) Sets aside 20% of units for households under 50% of median Follows strongest available accessibility and adaptation requirements. Includes loan evaporation incentive, separate waiting list, and infrastructure and incentive funds.
Supportive Housing Development Loans Creates a new $125 Million per year Supportive Housing development program serving homeless, disabled, elderly and working households, including families, with incomes up to 100% of median Offers voluntary on-site supportive services ranging from rental assistance and front desk security to complete supportive service package with day care, job training, counseling, etc. Follows strongest available accessibility and adaptation requirements. Includes loan evaporation incentive, separate waiting list, and infrastructure and incentive funds.
Rehabilitation Loans and Access to Home Grants Provides $50 Million for new rehabilitation programs and Access to Home grants. Grants from DHCR and the Governor’s Office for Small Cities to local sponsors to make rehab loans for owner occupied, one-to-four family homes and multi-family buildings (including conversion of underutilized commercial properties for affordable housing). Access to Home grants to retrofit homes and apartments to accommodate people with mobility impairments.
Infrastructure and Incentive Grants Provides $50 Million for Infrastructure and Incentive Grants to facilitate construction of new multifamily workforce and supportive housing developments. Installation or upgrading of water and sewer lines to a public connection, installation or upgrading of private wells and sanitary systems, storm sewers and road and sidewalk construction where required by local zoning ordinances, and installation of gas and electric lines and other site improvements or site preparation which is necessary for the creation of affordable, accessible and supportive housing.
Matching Grants for Local Trusts Provides $25 Million to match housing related local trust funds and land trusts. No more than half of this fund could be used in New York City.
Definition of Disability " DISABLED PERSON" OR “PERSON WITH A DISABILITY” SHALL MEAN AN INDIVIDUAL (i) WHO IS CURRENTLY RECEIVING (A) SOCIAL SECURITY DISABILITY INSURANCE (SSDI) OR (B) SUPPLEMENTAL SECURITY INCOME (SSI) BENEFITS UNDER THE FEDERAL SOCIAL SECURITY ACT OR (C) DISABILITY PENSION OR DISABILITY COMPENSATION BENEFITS PROVIDED BY THE UNITED STATES DEPARTMENT OF VETERANS AFFAIRS OR (ii) WHO HAS PREVIOUSLY RECEIVED DISABILITY BENEFITS UNDER THE SUPPLEMENTAL SECURITY INCOME PROGRAM OR THE SOCIAL SECURITY DISABILITY PROGRAM, OR (iii) WHO HAS RECEIVED A PARKING PERMIT FOR PERSONS WITH A PERMANENT DISABILITY ISSUED BY THE STATE OF NEW YORK OR THE CITY OF NEW YORK, OR (iv) WHO HAS BEEN ISSUED A MOTOR VEHICLE REGISTRATION FOR SEVERELY DISABLED PERSONS BY THE STATE OF NEW YORK, OR (v) WHO HAS BEEN ISSUED A DRIVER’S LICENSE BY THE STATE OF NEW YORK REQUIRING THE USE OF FULL HAND CONTROLS, OR (vi) WHO IS CURRENTLY RECEIVING OR HAS PREVIOUSLY RECEIVED MEDICAL ASSISTANCE BENEFITS BASED ON DETERMINATION OF DISABILITY AS PROVIDED IN SECTION THREE HUNDRED SIXTY-SIX OF THE SOCIAL SERVICES LAW, OR (vii) WHO HAS BEEN ISSUED A REGISTRATION OR IDENTIFICATION NUMBER BY THE NEW YORK STATE COMMISSION FOR THE BLIND AND VISUALLY HANDICAPPED, OR (viii) WHO IS A PERSON WITH A PERMANENT MOBILITY IMPAIRMENT; OR (ix) WHO IS CERTIFIED BY A PHYSICIAN UNDER THE PENALTIES OF PERJURY TO BE A DISABLED PERSON AS DEFINED BY SECTION 223 OF THE SOCIAL SECURITY ACT (42 USC423), OR TO BE A PERSON WITH A DEVELOPMENTAL DISABILITY AS DEFINED BY SECTION 102(7) OF THE DEVELOPMENTAL DISABILITIES ASSISTANCE AND BILL OF RIGHTS ACT, OR TO BE A HANDICAPPED PERSON WITH A PHYSICAL OR MENTAL IMPAIRMENT THAT, AS DEFINED BY THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, IS EXPECTED TO BE OF LONG OR INDEFINITE DURATION, SUBSTANTIALLY IMPEDES HIS OR HER ABILITY TO LIVE INDEPENDENTLY, AND IS OF SUCH A NATURE THAT THE DISABILITY COULD BE IMPROVED BY MORE SUITABLE HOUSING CONDITIONS. THE "DISABLED PERSON" OR “PERSON WITH A DISABILITY” NEED NOT BE THE HEAD, BUT MAY BE ANY MEMBER OF A HOUSEHOLD SEEKING HOUSING UNDER THIS ARTICLE.
Definition of Homeless "HOMELESS PERSON" SHALL MEAN (i) AN UNDOMICILED PERSON WHO IS UNABLE TO SECURE PERMANENT AND STABLE HOUSING WITHOUT SPECIAL ASSISTANCE AS DETERMINED BY THE COMMISSIONER, OR (ii) AN ELDERLY PERSON OR PERSON WITH A DISABILITY UNDER THE AGE OF 62 WHO WOULD BE A HOMELESS PERSON BUT FOR HIS OR HER RESIDENCY IN A NURSING HOME AND WHO IS CAPABLE OF LIVING IN A LESS RESTRICTIVE SETTING. ”HOUSEHOLD AT RISK OF BECOMING HOMELESS” SHALL MEAN A PERSON OR FAMILY WITH AN ANNUAL INCOME OF NOT MORE THAN ONE HUNDRED PERCENT OF THE LOCAL AREA MEDIAN HOUSEHOLD INCOME WHO (A) PAYS RENT FOR AN ACCOMMODATION THAT EXCEEDS FORTY-NINE PERCENT OF ITS MONTHLY HOUSEHOLD INCOME, OR (B) RECEIVES FAMILY ASSISTANCE, SAFETY NET ASSISTANCE, OR SUPPLEMENTAL SECURITY INCOME BENEFITS UNDER THE FEDERAL SOCIAL SECURITY ACT, OR (C) AWAITS DISCHARGE FROM A HOSPITAL OR REHABILITATION FACILITY AND IS ABLE TO LIVE IN A LESS RESTRICTIVE SETTING THAN A NURSING HOME.
Set-asides for Supportive Housing 25%-30% of units for formerly homeless individuals and families (and those at risk). 25%-30 % for households (individuals and families) including persons with disabilities and elderly people 40%-50% for persons of the local community up to 100 percent of median income
Accessibility/Adaptation Requirements All developments receiving funding for Multi- family or Supportive Housing must follow the strongest of: Federal Fair Housing Act, New York State Building Code, or If in New York City, Local Law 58 of 1987, whichever is stronger.
Adaptation Ten percent, or at least one, of the units would be adapted for occupancy by an elderly or disabled person with a mobility impairment. Financial incentives would be available for owners choosing to adapt additional units (up to a total of 30 percent) for such occupancy.
Waiting List Rule and Evaporation Incentive Priority on renting adapted unit(s) would be given to disabled and elderly persons with mobility impairments (following the waiting list model of Section 504 regulations for HUD-funded projects). A loan evaporation incentive would be granted where an adapted is in continuous occupancy by a person with a mobility impairment for 20 years.
Funding Sources Real Estate Transfer Tax SONYMA annual excess balance Disabled License Plate Fees Motorcycle Registration Fee Other options (HFA, Other Fees, Bonds)
Public Authority and Administrative Auspices Affordable Multi-Family Housing Development Program: HFA Supportive Housing Development Program: HFA with OTDA Rehabilitation and Access to Home Loans: DHCR & Governor’s Office of Small Cities Infrastructure and Incentive Grants: HFA
Miscellaneous Features Workforce and supportive housing developments would qualify for senior citizens and disability rent increase exemptions (SCRIE/DRIE). HFA to retain its excess debt service reserves for use in financing affordable housing. Exempt the construction and rehabilitation of affordable housing from the state’s sales and use tax.
Rationale Increasing the state’s investment in affordable housing production is critical and prudent. Such investment eases recessions and stimulates economic growth and expansion. Based on national estimates, a $400 Million state investment to produce 6,000 new homes and apartments each year would: During construction: create 9,400 local jobs generate $445 Million in local wages produce $40 Million for local governments produce $ 53 Million for the State leverage $425 Million in private funds During 30 years of occupancy: create 95,000 local jobs generate $4.2 Billion in local wages produce $625 Million for local governments produce $845 Million for the State The state can recoup its annual investment in new units in about 15 years. Over the remaining years of the financing, it can realize a gain of $420 million. An annual allocation of $400 Million represents a modest reinvestment of the more than $1 Billion the housing and real estate industry provide the state annually via the real estate transfer tax, the mortgage recording tax and surcharges, and sales taxes. Less than $100 Million of these revenues is now dedicated by statute for investment in affordable housing.