Your search results

Legislative Update September/October

Posted by GCAR on October 5, 2023
Blog
0

Governor Hochul announces executive actions on housing
Governor Kathy Hochul has announced several executive actions to promote housing growth, including:

  • Declaring an Executive Order establishing priority in specific discretionary funding programs for localities across the state that comply with a new “Pro-Housing Community” certification process;
  • Creating a program to advance residential projects halted by the expiration of 421-a that include affordable housing, limited to within the Gowanus rezoning area in Brooklyn;
  • Requiring all state entities to identify the potential for state-owned lands to support housing;
  • Recent and forthcoming regulatory initiatives to identify opportunities for greater efficiencies to promote housing growth;
  • Launching the beta version of a new, interactive portal to collect and share community-level housing and zoning data and information.

To read a full breakdown of Governor Hochul’s executive actions, visit nysar.com

White House announces updates for housing supply and multifamily housing
The White House released two announcements recently, outlining actions to boost the housing supply and offering guidance for multifamily properties. These announcements are follow-up items to the President’s Housing Supply Action Plan and Blueprint for a Tenant’s Bill of Rights. NAR supports efforts to increase the affordable housing supply and will continue to work with the White House and Congress to protect small housing providers. Read more at nar.realtor.

Work begins on $100M Albany airport modernization

Gov. Kathy Hochul unveiled the plans for the new Albany airport project, to be completed with a $60 million state award. It will cost $100 million and will include a new entranceway, enhanced security areas, expanded seating, ticketing, baggage and waiting areas, and more to reduce congestion of passengers.

The project is slated to be completed in about two-and-a-half years or early 2025. Albany International Airport received a $72.1 million state award in 2020 to expand parking and the construction of Exit 3 to directly access the airport off Interstate 87.

 

Compare Listings