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With the passage of the Fiscal Year 2024 Budget, Governor Kathy Hochul made significant strides toward making “the Empire State a more affordable, more livable, safer place for all New Yorkers.”  The 2024 Budget includes a number of new programs and protections that benefit affordable housing developers and owners, as well as support the development of new affordable housing throughout New York State.  “The Governor and Legislature have created new and significant [...]

In its Fiscal Year 2024 Budget, New York State passed significant measures expanding access to affordable housing across the State, moving the ball forward on Governor Kathy Hochul’s ambitious plan to “make the Empire State a more affordable, more livable, safer place for all New Yorkers.”  These measures include tax exemptions for creating affordable housing, protections against insurance discrimination for affordable housing property owners, and support for developing [...]

The concept that restrictive zoning and land-use regulations reduce the supply of housing, and in turn, increase the price of housing has been getting significantly more discussion in recent years by think tanks on all sides of spectrum, including the CATO and Brookings Institutes. Joining her colleagues in States like Arizona, Maine, Maryland, Massachusetts, and North Carolina, as part of her 2023 Executive Budget, Governor Kathy Hochul announced a statewide strategy to build 800,000 new homes [...]

Over the last three years, Whiteman Osterman and Hanna attorneys Thomas Shepardson and T.J. Ruane have brought dozens of lawsuits against some of the nation’s largest mortgage lenders and servicers on behalf of several New York State municipalities under the State’s Zombie Property Law (New York Real Property Actions and Proceedings Law §1308, et seq.). Their efforts have resulted in court orders and judgments requiring these lenders and servicers to remediate, and in a few [...]