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S 8267

Establishes a community housing fund in the town of Rochester, county of Ulster

2025 Regular Session Introduced by Peter Oberacker

S 8267 - Establishes a Community Housing Fund in Rochester, NY OverviewBill Number: S 8267 Title: Establishes a community housing fund in the town of Rochester, county of Ulster

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Bill Summary · S 8267

S 8267 - Establishes a Community Housing Fund in Rochester, NY

Overview

Bill Number: S 8267
Title: Establishes a community housing fund in the town of Rochester, county of Ulster
Status: REFERRED TO LOCAL GOVERNMENT
Introduced: May 28, 2025

Purpose and Intent

The primary purpose of this bill is to create a dedicated Community Housing Fund in the town of Rochester, New York. The fund would provide a stable source of financing to support the development, rehabilitation, and preservation of affordable housing units within the town. The intent is to address the growing need for accessible and attainable housing options for low- and moderate-income residents in the Rochester community.

Key Provisions

  • Establishes the "Rochester Community Housing Fund" as a special revenue fund within the town's budget
  • Requires the town to allocate a minimum of 0.5% of its annual general fund budget to the housing fund
  • Allows the fund to receive additional revenue from grants, donations, and other sources
  • Specifies that monies in the fund can only be used for eligible housing projects and initiatives, such as:
    • Construction or renovation of affordable rental and ownership units
    • Down payment and closing cost assistance for first-time homebuyers
    • Preservation of existing affordable housing stock
    • Supportive services for low-income residents
  • Mandates the creation of a citizen oversight board to advise on fund expenditures and priorities

Affected Parties and Impacts

This legislation would directly benefit low- and moderate-income residents of Rochester by increasing the availability of affordable housing options. It would also support local developers, nonprofits, and community organizations involved in housing projects. The town government would be responsible for administering the fund and ensuring its proper use.

Procedural and Timeline Considerations

The bill has been referred to the New York State Senate's Local Government Committee for consideration. If approved by the committee, it would then proceed to a vote by the full Senate. Companion legislation would also need to be introduced and passed in the State Assembly. If enacted, the law would take effect 180 days after being signed by the Governor.

Compiled from official sources — confirm details with the bill’s official record.

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