S05257 provides a mechanism for the state to finance the acquisition of distressed hotels and commercial office properties by the appropriate nonprofit organizations for the purpose of providing affordable housing.
The New York State Senate passed S08527 on June 9, 2021 by a vote of 50 to 13. We have assigned pluses to the nays because this is government interfering in the free market and this government subsidized housing benefits only a specific part of the population. This is also another step towards socialism as subsidized housing is a misuse of taxpayer dollars.