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Creation of homeownership opportunity units.

NYC Admin. Code § 26-3702 (Creation of homeownership opportunity units)
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§ 26-3702 Creation of homeownership opportunity units.* * Editor's note: there are two sections designated as § 26-3702. a. During the 5 year period beginning July 1, 2026 and ending June 30, 2031, and for every 5 year period thereafter, the department shall execute agreements to create a number of homeownership opportunity units that is greater than or equal to 4 percent of the number of new construction units that the department executes agreements to create during the same 5 year period. b. No more than 60 percent of the homeownership opportunity units for which agreements are required to be executed pursuant to subdivision a of this section shall be down payment assistance units. (L.L. 2026/057, 1/29/2026, eff. 1/29/2026)
Source: City of New York, Charter, Administrative Code and Rules (American Legal Publishing XML export, codelibrary.amlegal.com)URL: https://codelibrary.amlegal.com/codes/newyorkcity/latest/NYCadmin/0-0-0-240279Fetched: 10/24/2026

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