A Local Law to amend the New York city charter and the administrative code of the city of New York, in relation to the citywide percentage of rental units in projects receiving city financial assistance that must be 2- and 3-bedroom units and amending the city’s fair housing plan

Summary

This bill would require that a minimum percentage of affordable housing apartments financed by the City to house families of three or more people. Of the new affordable housing financed by the Department of Housing and Preservation Development, known as HPD, 25% would have to be two bedrooms and 15% would have to be three bedrooms. Although the bill would go into effect immediately, the requirements would not apply until July 1, 2027, so that affordable housing projects under design and development can proceed without having to be redesigned. The bill includes several separate exemptions to the requirements, based on either their programmatic requirements, site constraints, or their stage in the pre-development process. The legislation would also include an ability for HPD to suspend the targets if federal resources relied on to finance affordable housing are significantly decreased. In addition, the bill would amend the Fair Housing framework to consider specifically the housing needs of families and aging adults as well as the availability and affordability of 2 and 3 bedrooms and senior housing.

Official summary of legislation · NYC Council