Legislation Allows for the State to Finance the Acquisition and/or Conversion of Distressed Hotels and Commercial Office Properties by Nonprofit Organizations to Increase Affordable Housing
Governor Andrew M. Cuomo has igned legislation (S.5257C/A.6593B), enacting the "Housing Our Neighbors with Dignity Act," which provides a mechanism for the state to finance the acquisition and/or conversion of distressed hotels and/or commercial office properties by the appropriate nonprofit organizations for the purpose of maintaining or increasing affordable housing.
Housing created through HONDA will provide affordable permanent housing that meets safety, habitability and quality standards while also providing inhabitants access to supportive services.