File #: 26-081    Version: 1 Name:
Type: Resolution Status: Passed
File created: 12/29/2025 In control: Audit and Finance Committee
On agenda: Final action: 3/9/2026
Title: AUTHORIZING AN AGREEMENT WITH THE ADVANCE ALBANY COUNTY ALLIANCE LOCAL DEVELOPMENT CORPORATION REGARDING THE ALBANY COUNTY REVOLVING HOUSING LOAN FUND
Sponsors: Audit and Finance Committee, Gary W. Domalewicz, Susan Pedo, William Reinhardt
Attachments: 1. TMP-7142 Cover Letter, 2. RLA Form 7142, 3. Budget Amendment Housing Trust Fund, 4. 25-LL-G IND - Albany County Local Law--Affordable Housing As A Public Purpose (Revised Ind. Ex.)_9.3 (1), 5. 25-LL-L IND - Affordable Housing Initiatives Plan Local Law_Ind, 6. 26-081 AF 14 - TMP-7142 - AACA Revolving Loan Fund

RESOLUTION NO. 81

 

AUTHORIZING AN AGREEMENT WITH THE ADVANCE ALBANY COUNTY ALLIANCE LOCAL DEVELOPMENT CORPORATION REGARDING THE ALBANY COUNTY REVOLVING HOUSING LOAN FUND

 

Introduced: 3/9/26

By Audit and Finance Committee, Domalewicz, Pedo and Reinhardt:

 

WHEREAS, By Local Law No. “L” for 2025, this Honorable Body created the Affordable Housing Initiatives Plan to address the need for affordable housing throughout Albany County, and

 

WHEREAS, Pursuant to this Local Law, the Albany County Revolving Housing Loan Fund shall be established, providing applicants with additional resources necessary to develop affordable housing in Albany County, and

 

WHEREAS, The Commissioner of the Department of Economic Development, Conservation and Planning has requested authorization to enter into an agreement with the Advance Albany County Alliance Local Development Corporation (the AACA) regarding the administration and disbursement of funding for the Albany County Revolving Housing Loan Fund, and

 

WHEREAS, The Commissioner indicated that this funding in the amount of $1,270,000 will provide the AACA with money to disburse to selected applicants for the use of housing development and rehabilitation around Albany County and the Capital Region, and

 

WHEREAS, A budget amendment is necessary to allocate said funding to the AACA, now, therefore, be it

 

RESOLVED, By the Albany County Legislature, that the County Executive is hereby authorized to enter into an agreement with the Advance Albany County Alliance Local Development Corporation, Albany, NY 12210 regarding the administration and disbursement of funding for the Albany County Revolving Housing Loan Fund to qualified applicants in the amount of $1,270,000, and, be it further

 

RESOLVED, That the 2026 Albany County Budget is hereby amended as follows:

 

 

RESOLVED, That the County Attorney is authorized to approve said agreement as to form and content, and, be it further

 

RESOLVED, That the Clerk of the County Legislature is directed to forward certified copies of this resolution to the appropriate County Officials.