LOCAL LAW NO. "L" FOR 2025
A LOCAL LAW OF THE COUNTY OF ALBANY, NEW YORK ESTABLISHING THE ALBANY COUNTY AFFORDABLE HOUSING INITIATIVES PLAN
Introduced: 11/10/25
By Cunningham and Willingham:
BE IT ENACTED by the County Legislature of the County of Albany as follows:
Section 1. Title
This Local Law shall be known as the "Affordable Housing Initiatives Act."
Section 2. Declaration of Legislative Findings & Intent
Affordable housing is one of the most significant challenges throughout New York State, and Albany County is no different. The long-standing guideline when it comes to budgeting for housing is that people should pay no more than thirty percent (30%) of the area's median income for housing. But nearly half (41%) of Albany County renters are spending over 30% of their income on housing. Annually, renters' purchasing power fails to keep up with increasing rent. From 2022 to 2023, renters' wages increased by an average of 3.3%, while apartment rents increased by an average of 8.8%. As rents continue to rise, this crisis persists.
Throughout Albany County, affordable housing development faces substantial challenges. Interested developers struggle to secure the necessary investment to rehabilitate or construct affordable housing in the urban and rural areas where housing is most needed. Decades of residential flight, neglect, and blight have created a financing environment where predevelopment funding for architectural or engineering needs and support for contractors or developers is nearly nonexistent, exacerbating this crisis.
To address this issue directly, the Albany County Legislature has introduced Local Law __ of 2025, which declares the development of affordable housing a public purpose for the County of Albany. Local Law __ of 2025 tasks the County with: 1) the creation of an Affordable Housing Committee empowered to address affordable housing matters; 2) the development of a Revolving Loan Fund for financial support for develo...
Click here for full text