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Committee schedules public hearing on proposed Albany County housing revolving loan fund
Summary
The committee reported a proposed Local Law to create a housing revolving loan fund — funded from the county's undesignated unappropriated fund balance with bands and a $7 million pause — to a public hearing; members debated committee governance and selection criteria for awards.
The Albany County Law Committee voted to report a proposed local law that would establish a housing revolving loan fund intended to finance smaller developers building workforce housing in underserved communities. Presenter Speaker 2 said the fund is modeled on existing county mechanisms (the convention center funding structure and the Albany County Alliance/Business Development Corporation loan examples) and would be…
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