Housing (Affordable Housing)

Provides that no tax exemption shall be given for any unit that has not agreed in writing to maintain such unit as their primary residence for no less than five years from the acquisition of such unit.

Provides that no tax exemption shall be given for any unit that has not agreed in writing to maintain such unit as their primary residence for no less than five years from the acquisition of such unit.

This bill requires New York City's Planning Commission to review and approve all new locations, expansions, or service changes for specific social services facilities operated by city agencies. It directly affects agencies managing shelters, housing programs, youth services, and supportive housing (like ACS placement facilities, homeless shelters, and affordable housing with support services). The key provision mandates the Commission to consider neighborhood character, property values, and existing facility locations before approving such changes. The law does not change service eligibility but adds a new approval step for facility operations.

Removes residential dwelling units that must be affordable to residents at a specific income level from the definition of "construction contracts" for the purposes of certain provisions of the General Business Law.