Authorizes labor unions to work with the city of New York to finance the construction of affordable housing for its members

This bill allows New York City to partner with labor unions representing city employees to finance affordable housing exclusively for those union members. It requires housing units to be occupied by city employees meeting specific criteria: at least one resident must work for the city, live there over half the year, and have combined household income below 125% of the area median income. Leases automatically terminate if residents no longer meet these income or residency requirements. The bill creates a formal mechanism for unions and the city to collaborate on housing projects without conflicting with existing laws. (Summary based on §1154 of the bill text and official abstract.)