NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A7107
SPONSOR: Bichotte Hermelyn TITLE OF BILL:
An act to amend the private housing finance law, in relation to labor
union financed housing
PURPOSE OR GENERAL IDEA OF BILL:
To provide for the creation of workforce housing for those working fami-
lies 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 SPECIFIC 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.
JUSTIFICATION:
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 pover-
ty. 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 sani-
tary quality housing, wages are stagnant for unskilled, semi-skilled and
entry level professionals and a contirgent workforce appears to be the
employment paradigm for millennials. 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.
PRIOR LEGISLATIVE HISTORY:
01/03/24 referred to housing
01/23/23 referred to housing
2021-22: A06935 - referred to housing
2019-2020: A3410 - referred to housing
2017-2018: A817 - referred to housing
FISCAL IMPLICATIONS:
TBD
EFFECTIVE DATE:
Immediately,
STATE OF NEW YORK
________________________________________________________________________
7107
2025-2026 Regular Sessions
IN ASSEMBLY
March 20, 2025
___________
Introduced by M. of A. BICHOTTE HERMELYN, TAYLOR, GIBBS, KIM -- read
once and referred to the Committee on Housing
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:
1 Section 1. The private housing finance law is amended by adding a new
2 section 1154 to read as follows:
3 § 1154. Partnership with labor unions. 1. Notwithstanding any other
4 provision of law to the contrary, the city of New York may enter into a
5 cooperative partnership with any collective bargaining unit that repres-
6 ents employees of such city to finance the construction of affordable
7 housing for the members of such collective bargaining unit.
8 2. Any financing for the construction of affordable housing pursuant
9 to this section shall consist of units that are exclusively occupied by
10 employees of the city of New York. For purposes of this subdivision, a
11 unit shall be deemed occupied by an employee of the city if at least one
12 person residing in such unit is an employee of the city, such employee
13 actually resides in the unit for more than fifty percent of the year,
14 and the combined income of all members residing in the unit is less than
15 one hundred twenty-five percent of the area median income.
16 3. A lease or rental agreement of any unit created pursuant to this
17 section shall not be extended or renewed to any person if the criteria
18 established in subdivision two of this section are no longer satisfied.
19 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD08303-01-5
