New York State Government and Public Real Estate News

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As colder weather descends on the northeast and homeowners receive shipments of home heating oil, the New York State Department of Environmental Conservation (DEC) is urging homeowners to inspect heating fuel oil storage tanks for leaks or spills
Hunter’s Point South is a massive, multi-phase project. The Phase I infrastructure, roadways, and waterfront park was completed by NYCEDC in August 2013, and will support mixed-use developments totaling more than 2,000 housing units.
HPD and the New York City Department of Small Business Services (SBS) also launched the 2015-16 capacity building course for M/WBEs in partnership with the New York State Association for Affordable Housing (NYSAFAH), Goldman Sachs Urban Investment Group, Holland & Knight, and Paul, Weiss. Expanding on the success of the inaugural course introduced last year, the new session includes nonprofit developers
Speaker Melissa Mark-Viverito and the New York City Housing Authority today unveiled a new mosaic mural honoring Dr. Antonia Pantoja, located on the Corsi Senior Center on East 116th Street in East Harlem. The mural was commissioned by the Dr. Antonia Pantoja Mural Committee and New Yorkers who were inspired by Dr. Pantoja’s lifetime of dedication to the Latino community in New York City and beyond
The 2015 New York State housing market growth trend continued into October, reaching the highest level of closed sales for the month in more than 25 years, according to the housing market report released today by the New York State Association of REALTORS. October 2015 closed sales increased nearly 2 percent to reach 11,216.
The Land and Water Conservation Fund (LWCF) expired on Sept. 30, 2015. The original 1965 LWCF law authorized offshore oil and gas royalties to be split 60 percent for state purposes and 40 percent for federal purposes.
The Beach Green North development is financed under Mayor Bill de Blasio’s Housing New York: A Five-Borough, 10-Year Housing Plan. The most comprehensive affordable housing plan in the City’s history and largest municipal housing plan in the nation, its goal is to create and preserve 200,000 units of affordable housing for very low- and middle income families to help address New York City’s affordability crisis.
Governor Andrew M. Cuomo today announced the grand opening of the rehabilitated F.W. Woolworth building in Watertown. This historic landmark, which was one of the nation's earliest F.W. Woolworth stores, has been transformed from a downtown eyesore into a vibrant building with 50 units of affordable rental housing and ground-level retail space.
The New York State Department of Labor today released October 2015 jobs numbers for the City of New York. According to the numbers, New York City's unemployment rate has reached its lowest level since August 2006, dropping a full four tenths of a percentage point since last month from 5.2 percent to 4.8 percent, putting it below the national unemployment rate for the first time since June 2011.
The City’s 15,000 unit plan is comprised of roughly 7,500 newly-constructed, congregate units and 7,500 scattered site units. The plan will cost $2.6 billion in capital funds over the next 15 years to develop the 7,500 congregate units. Of the total capital costs, approximately $1 billion will be a City cost – and all but $380 million has already been budgeted through Housing New York.
Auto debt continued its upward climb during the third quarter of 2015, according to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit. Auto loan balances increased for the 18th straight quarter, this time by $39 billion, and stand at $1.05 trillion as of the end of September
The Federal Home Loan Bank of New York (“FHLBNY”) announced today the results of the 2015 election for four positions on the FHLBNY’s Board of Directors whose terms will each commence on January 1, 2016. All four terms will run for four years, expiring on December 31, 2019
The New York State Association of REALTORS is a not-for-profit trade organization representing more than 50,000 of New York State’s real estate professionals. The term REALTOR is a registered trademark, which identifies real estate professionals who subscribe to a strict code of ethics as members of the National Association of REALTORS.
The Martin Act regulates the conversion of rental buildings to cooperative status – providing protections for tenants while promoting homeownership. After the conversion, however, newly leased apartments in a cooperative are exempt from providing rent-stabilized apartments, in order to promote homeownership.
New York Cares is seeking thousands of generous New Yorkers to sign up to grant 42,000 Winter Wishes, a program that helps to provide holiday gifts to underprivileged children, teens, and seniors who otherwise might go without. The deadline for volunteers to sign up is Wednesday, November 25, 2015. In order to grant all Winter Wishes, New York Cares is encouraging organizations and groups of friends to claim multiple requests so that all of our neighbors seeking holiday joy receive it
The Long Island Sound Futures Fund grants will reach more than 130,000 citizens through environmental and conservation programs, allow nearly 1.7 million gallons of water to be treated through water quality improvement projects, and leverage $2.1 million from the grantees themselves, resulting in $3.4 million in funding for on-the-ground, hands-on conservation projects in both states.
The development will include five, two-story residential buildings with 48 apartments. A separate community building will house a maintenance garage, laundry room, and Veterans Administration service delivery office. Twenty-five units will be set aside for veterans eligible for benefits from the Canandaigua VA Medical Center who are homeless or at risk of homelessness and their dependents.
Households may also be eligible for an emergency benefit if they are in danger of running out of heating fuel or having their utility service shut off. Applications for emergency benefits will be accepted beginning Monday, January 4, 2016. Households facing an energy emergency should call their local department of social services for assistance.
Current West Point Waste Water Treatment Plant Was Built Nearly 60 Years Ago & Has Not Been Updated Since 1972; Suffers From Leaking Tanks That Are Beyond Repair And In Need Of An Upgrade – West Point Will Now Be Able To Replace Old, Deteriorating Water Plant
Nassau County Executive Edward P. Mangano today announced the Nassau County Industrial Development Agency’s (IDA) approval of an economic development compact for a proposed $77 million transit-oriented apartment project in downtown Mineola. The project is expected to provide much-needed new rental options in the County and provide a boost to businesses in downtown Mineola and western Nassau
At Gillibrand & Schumer’s Urging, Feds Lift Restrictions for Hundreds of Sandy Homeowners Currently Disqualified for Disaster Aid

HUD Rules Allow NYC to Complete Environmental Reviews For Eligible Homeowners Seeking Sandy Reimbursement

Washington, DC – July 31, 2013 – (RealEstateRama) — Today, U.S. Senators Kirsten Gillibrand, a member of the Environment and Public Works Committee, and Charles E. Schumer announced that the Housing and Urban Development (HUD) agency revised its regulations to allow New York City to expedite reimbursement for home repairs and rehabilitation for Short-term rent hundreds of Sandy homeowners currently deemed ineligible. Previously, HUD regulations blocked the City from conducting environmental reviews for Sandy victims’ homes that were “substantially damaged,” which is defined as losses greater than half the value of their home. According to City estimates, this restrictive policy means hundreds of homeowners who already made repairs to their homes are ineligible to receive CDBG reimbursement. StreetEasy – NYC Real Estate and NYC Real Estate Listings more »

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