New York State Government and Public Real Estate News

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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Schumer Calls for Town of North Hempstead, Ravaged by Sandy, to Receive Fed Funding to Rebuild Town Public Dock, Bulkheads and Seawalls to Protect Homes & Evacuation Routes, Complete Sand Removal Work & Other Key Projects

Schumer, Joined By Supervisor Bosworth, Launches Effort to Ensure North Shore Resiliency Projects Are Prioritized and Calls for FEMA & HUD to Work With Town & Expedite Consideration of Key Rebuilding Proposals; Beyond Protecting Communities, Rebuilding Critical to Local Business, Recreation & Tourism

Schumer: We Must Not Forget the North Shore When it Comes to Rebuilding & Resiliency for Next Storm

WASHINGTON, D.C. – April 17, 2014 – (RealEstateRama) — U.S. Senator Charles E. Schumer today launched his effort to ensure that the federal government does not leave out North Shore Long Island communities, like North Hempstead, in funding Sandy rebuilding and resiliency efforts. The Town of North Hempstead has a number of critical recovery projects in the works, including rebuilding the town dock in Port Washington, repairing a number of critical bulkheads and seawalls, and completing sand removal, that have yet to be funded over 18 months after the storm. Specifically, Schumer called on the Federal Emergency Management Agency (FEMA) and the Dept. of Housing and Urban Development (HUD) to prioritize and expedite consideration of several major projects throughout the Town of North Hempstead that will help protect Nassau County’s North Shore communities in the event of a future storm. Schumer today said that many projects along the South Shore have been the focus of post-Sandy efforts and while those are critically important, hard-hit communities like the Town of North Hempstead cannot be forgotten. Schumer pointed to specific projects along Long Island Sound bays that the feds should swiftly support. Schumer was joined by Town Supervisor Judi Bosworth. more »

Funding Will Create and Preserve Over 2,000 Units of Affordable Housing Statewide

Albany, NY – April 17, 2014 – (RealEstateRama) — Governor Andrew M. Cuomo today announced over $95 million in awards for shovel-ready projects to build affordable housing across the state. The low-interest loans and tax credits will build and preserve nearly 2,100 units of affordable housing and are expected to leverage more than $435 million in grants, loans and private resources. more »

WASHINGTON, D.C. – April 14, 2014 – (RealEstateRama) — County Executive Edward P. Mangano announced today that the Nassau County Industrial Development Agency (IDA) has approved an economic development compact for Avalon Bay Communities to build 191 rental apartments, 10 percent of them affordable workforce housing units, on the site of a now-defunct petroleum storage facility in Great Neck. When completed, this project will generate $56.4 million in economic benefit for the local economy while bringing the number of new housing opportunities created in Nassau under the Mangano administration to over 1,150. more »

Enacted Budget Provides $113 Million in Property Tax Relief Over Three Years and Increases School Aid by Over $90 Million

Albany, NY – April 10, 2014 – (RealEstateRama) — Governor Andrew M. Cuomo today highlighted key points of the 2014-2015 New York State Budget, the fourth consecutive on-time budget that holds spending growth below two percent, in Irondequoit. The Budget provides $1.5 billion in property tax cuts to help New York’s homeowners and encourage local governments to increase efficiencies, transforms schools and increases education spending by a record 5%, and lowers the corporate income tax rate to zero. more »

Parking Lots and Garages In As Many As 20 Retail Outlets In NYS To Be Upgraded To Meet Accessibility Requirements Set Forth By Federal ADA And State Law
Schneiderman: We Will Seek To Remove Barriers To An Independent Life For People With Disabilities

NEW YORK – April 9, 2014 – (RealEstateRama) — Attorney General Eric T. Schneiderman today announced an agreement with Vornado Realty Corporation, one of the largest owners and managers of commercial real estate in the U.S., that will ensure that individuals with disabilities are provided equal access to parking lots and garages at 20 shopping centers in New York owned by the company. The settlement requires that the facilities are upgraded so they comply with requirements and design standards set forth in the federal Americans with Disabilities Act, so those with disabilities have access to the goods and services that are available at the centers. more »

In Wake of Hurricane Irene & Tropical Storm Lee, Several Buildings Were Severely Damaged and Still Remain in a Flood Hazard Zone
Senators Announce FEMA Hazard Mitigation Grant Will Fund Acquisition and Demolition of Flood-Damaged Properties and Turn them into Green Space

WASHINGTON, D.C. – April 9, 2014 – (RealEstateRama) — U.S. Senators Charles E. Schumer and Kirsten Gillibrand today announced $1.7 million in federal funds to acquire and demolish flood-damaged structures in the Village of Sidney in Delaware County, and turn them into green space. The federal funds cover 75% of Delaware County’s project to buyout and tear down the properties in this flood-prone location. Because the damaged buildings were located in a flood hazard zone, where there was persistent and severe flooding, demolishing the structures was Delaware County’s preferred plan. more »

Washington, D.C. – April 9, 2014 – (RealEstateRama) — Congressman Eliot Engel (NY-16) announced that the U.S. Housing and Urban Development (HUD) has awarded over $3 million in grants to non-profits and governmental agencies in his Congressional District, which will provide social services and housing assistance to homeless individuals and families. more »

ALBANY – April 4, 2014 – (RealEstateRama) — The New York Department of State will hold a public meeting on Tuesday, April 8, 10:30 a.m. at 99 Washington Avenue in Albany, 65 Court Street in Buffalo, and 123 William Street in NYC.  The Department’s Division of Licensing Services issues licenses to persons who conduct appraisals on real estate, and the Board of Real Estate Appraisal assists the Department in adopting rules and regulations relating to this discipline. The meeting is open to the general public. more »

New York, NY – April 1, 2014 – (RealEstateRama) — The New York State Senate today passed the 2014-15 education budget that will increase school aid by $1.1 billion, bringing total support for public schools to $22.1 billion. The 2014-15 State Budget distributes school aid fairly and equitably across the state, will help reduce pressure on local property taxpayers, provides additional support for charter schools and for early education programs, and makes important changes to address serious concerns raised about the Common Core program. more »

New York, NY – April 1, 2014 – (RealEstateRama) — New York’s hardworking families will see substantial property tax relief from the 2014-15 state budget, including a record amount of funding for the STAR program — $3.4 billion — and $1.5 billion in relief over the next three years from a new property tax freeze program. more »

More Than 1,500 Homeowners Served In Erie And Niagara Counties, With 797 Approved Or Pending Loan Modifications

A.G. Details New Legislation To Address “Zombie Properties” And Increase Number Of Land Banks Statewide

BUFFALO – March 28, 2014 – (RealEstateRama) — Attorney General Eric T. Schneiderman today announced that his office’s Homeowner Protection Program (HOPP) has served 24,000 New Yorkers statewide in less than a year and half, resulting in 6,660 approved and pending loan modifications. Of those homeowners, 1,519 reside in the counties of Erie and Niagara; and of the loan modifications approved and pending statewide, 797 are located in Erie and Niagara. Since October 2012, HOPP has allocated significant funding to 36 legal services organizations and 56 housing counseling agencies dedicated to providing free foreclosure prevention services to struggling homeowners. more »

Lt. Governor Duffy Outlines Proposal to Cut Property Taxes and Deliver Relief to Homeowners in Chemung County

Albany, NY – March 26, 2014 – (RealEstateRama) — Governor Andrew M. Cuomo today announced support from more than 260 local elected officials for his plan to cut property taxes. The Governor’s proposal to cut property taxes and encourage local governments to reduce costs was detailed by Lieutenant Governor Robert Duffy during an event earlier today at the Chemung County Executive Office in Elmira. more »

Albany, NY – March 24, 2014 – (RealEstateRama) — Housing sales in New York State slowed during February with closed transactions falling by 5.9 percent compared to February 2013, according to the housing market report released today by the New York State Association of REALTORS. The statewide median sales price continued its growth trend, increasing by nearly 7 percent compared to last February. more »

Property Tax Reform Proposal Endorsed By Suffolk County Executive Steve Bellone

New York,NY – March 24, 2014 – (RealEstateRama) — Governor Andrew M. Cuomo today announced support from more than 225 local elected officials for his plan to cut property taxes.

“Property taxes are one of the single greatest financial burdens for New Yorkers, and we can no longer allow our reputation as the tax capital of the nation hurt our homeowners,” Governor Cuomo said. “Just as we have worked to right size state government and bring our finances under control, local governments must continue to do the same. Our property tax reform agenda delivers more than $1 billion in tax relief while also encouraging local governments to address the crushing weight of the bureaucracy by working together to share services. Support for our approach is growing every day, and I commend the local leaders and countless New Yorkers who have voiced their support by calling on the legislature to make property tax reform a reality.” more »

Group says reducing CLL will harm housing market, limit middle class access to affordable mortgages

WASHINGTON – March 24, 2014 – (RealEstateRama) — Congresswoman Carolyn B. Maloney (NY-12) today responded to the Federal Housing Finance Agency’s request for public input on a proposal to reduce conforming loan limits, the maximum size of a home mortgage that Fannie Mae and Freddie Mac can purchase, with a letter signed by a bipartisan coalition of 35 House members who oppose the change. Maloney, the top Democrat on the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises, has been highly critical of the FHFA proposal that could result in reduced access to mortgages for middle-class families in high-cost real estate markets like New York City. more »

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