A 5968: Expands the provisions of the urban development action area act by amending the definition of municipality and eligible area to include any city instead of specifically applying to a city with one million or more.

  
  STATE OF NEW YORK ________________________________________________________________________ 5968 2025-2026 Regular Sessions  IN ASSEMBLY February 25, 2025 ___________ Introduced by M. of A. FITZPATRICK, DiPIETRO, GIGLIO, RA, TAGUE -- Multi-Sponsored by -- M. of A. BARCLAY, DeSTEFANO, MANKTELOW, McDO- NOUGH -- read once and referred to the Committee on Local Governments AN ACT to amend the general municipal law, in relation to expanding the provisions of the urban development action area act The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivisions 2 and 3 of section 692 of the general munici- 2 pal law, subdivision 2 as amended by chapter 555 of the laws of 1994 and 3 subdivision 3 as amended by chapter 492 of the laws of 2002, are amended 4 to read as follows: 5 2. "Municipality". A city [having a population of one hundred thousand 6 or more] and the town of Huntington. 7 3. "Eligible area". Real property, title to which is held by a munici- 8 pality. Provided, however, that [in a city of one million or more,] 9 property that the city conveys by deed made pursuant to a judgment of 10 foreclosure in an in rem tax lien foreclosure proceeding, or property 11 whose conveyance is caused by, or the result of, the city's foreclosure 12 of a tax lien thereon, including property to which title has not vested 13 in the city, which is then acquired by a third party, shall also be 14 deemed an eligible area under this article. Provided further, however, 15 that in a city of one million or more, property that has been acquired 16 by the federal government as the result of the foreclosure of a mortgage 17 loan insured or held by the federal government shall also be deemed an 18 eligible area under this article. Provided further, however, that real 19 property consisting of two contiguous acres or more of wooded land which 20 exists as substantially undeveloped at the time this article becomes 21 effective shall not be included as an eligible area for purposes of this 22 article. 23 § 2. Subdivision 2 of section 696-d of the general municipal law, as 24 added by chapter 680 of the laws of 1996, is amended to read as follows: EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08989-01-5 
 A. 5968 2 1 2. Notwithstanding the provisions of any general, special or local 2 law, the agency [in a city having a population of one million or more] 3 is hereby authorized to make or contract to make mortgage loans or to 4 participate with another lender in the making of mortgage loans for the 5 development of any neighborhood improvement project that such agency 6 determines to be an improvement associated with the construction or 7 rehabilitation of private or multiple dwellings. Real property assisted 8 with a loan pursuant to this section shall be located: (i) in an urban 9 development action area; (ii) in proximity to an urban development 10 action area; or (iii) in proximity to an urban development action area 11 project for which the area designation requirement was waived pursuant 12 to section six hundred ninety-three of this article. 13 § 3. This act shall take effect immediately.