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Bill to fund hotel and office conversions heads to Cuomo's desk

14 days ago   |   By The Real Deal New York

A bill that aims to convert distressed hotels and offices into affordable housing will head to the governor's desk. The state Assembly passed the bill late Wednesday, paving the way for a government-financed conversion program run by nonprofits. Under the measure, the state agency that administers housing vouchers and other federally funded programs will gain authority to finance the purchase and conversion of hotels and offices on behalf of state-approved nonprofits. The Senate approved the
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