Authorizes labor unions to work with the city of New York to finance the construction of affordable housing for its members.
TITLE OF BILL: An act to amend the private housing finance law, in relation to labor union financed housing
To provide for the creation of workforce housing for those working families unable to afford unsubsidized housing because of lack of sufficient income, and unable to qualify for affordable housing because their income exceeds New York City's adjusted median income (AMI).
SUMMARY OF PROVISIONS:
Section 1 amends the private housing finance law by adding a new section 1154 that provides New York City with the ability to finance workforce housing.
Section 2 provides that the act shall take effect immediately.
The newly elected Mayor of the City of New York has committed to the creation of 200,000 units of affordable housing to meet the needs of 46% of its population which can be currently be defined as living in poverty. This bill seeks to expand the financing available to meet those goals at a time when Federal subsidies have been reduced, higher income households at 130 % and higher are competing for available safe and sanitary quality housing, wages are stagnant for unskilled, semi-skilled and entry level professionals and a contingent workforce appears to be the employment paradigm for millenials.
The City is at a risk of losing an essential municipal workforce, despite the residency requirements, as well as the service providers for the private sector due to the lack of affordable housing. Many of the individuals who have been marginalized with regard to affordable housing are members of collective bargaining unions. Permitting the collective bargaining organizations to become partners with municipal State and private sector partners to finance and develop affordable housing targeted, in part to their membership and other workers in the private sector would be both a union membership and public benefit.
None. New bill.
STATE OF NEW YORK ________________________________________________________________________ 7571 IN SENATE May 15, 2014 ___________Introduced by Sen. PARKER -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Community Development AN ACT to amend the private housing finance law, in relation to labor union financed housing THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The private housing finance law is amended by adding a new section 1154 to read as follows: S 1154. PARTNERSHIP WITH LABOR UNIONS. 1. NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE CONTRARY, THE CITY OF NEW YORK MAY ENTER INTO A COOPERATIVE PARTNERSHIP WITH ANY COLLECTIVE BARGAINING UNIT THAT REPRES- ENTS EMPLOYEES OF SUCH CITY TO FINANCE THE CONSTRUCTION OF AFFORDABLE HOUSING FOR THE MEMBERS OF SUCH COLLECTIVE BARGAINING UNIT. 2. ANY FINANCING FOR THE CONSTRUCTION OF AFFORDABLE HOUSING PURSUANT TO THIS SECTION SHALL CONSIST OF UNITS THAT ARE EXCLUSIVELY OCCUPIED BY EMPLOYEES OF THE CITY OF NEW YORK. FOR PURPOSES OF THIS SUBDIVISION, A UNIT SHALL BE DEEMED OCCUPIED BY AN EMPLOYEE OF THE CITY IF AT LEAST ONE PERSON RESIDING IN SUCH UNIT IS AN EMPLOYEE OF THE CITY, SUCH EMPLOYEE ACTUALLY RESIDES IN THE UNIT FOR MORE THAN FIFTY PERCENT OF THE YEAR, AND THE COMBINED INCOME OF ALL MEMBERS RESIDING IN THE UNIT IS LESS THAN ONE HUNDRED TWENTY-FIVE PERCENT OF THE AREA MEDIAN INCOME. 3. A LEASE OR RENTAL AGREEMENT OF ANY UNIT CREATED PURSUANT TO THIS SECTION SHALL NOT BE EXTENDED OR RENEWED TO ANY PERSON IF THE CRITERIA ESTABLISHED IN SUBDIVISION TWO OF THIS SECTION ARE NO LONGER SATISFIED. S 2. This act shall take effect immediately.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15229-02-4