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Cuomo signs law allowing distressed commercial property to be converted into affordable housing

Aug 16, 2021 6:00 am

MidHudson News is reporting Gov. Andrew M. Cuomo last week signed into law the Housing Our Neighbors with Dignity Act, or HONDA. The measure makes it possible for distressed hotels and other commercial properties to be used for affordable housing. The new legislation gives the state a way to finance the purchase and conversion of distressed hotels or commercial office properties by a nonprofit organization. Cuomo said, “Providing affordable housing to communities not only serves those living in the homes but the communities around them. We look forward to all that HONDA will do to serve the people of New York and I am proud to sign it into law.” Housing created through HONDA will provide permanent housing, as well as access to supportive services for the inhabitants. Read the full story at MidHudsonNews [dot] com.

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