On April 12, 2020, Governor Andrew M. Cuomo signed Executive Order 202.16 to help expedite the formation of essential developments, including affordable housing and homeless shelters. Executive Order 202.16 is effective through May 12, 2020. The Executive Order requires the New York State Department of Law to issue all no-action or no-filing letters within 45 days of the date of submission. No-action or no-filing letters are submitted to the Department of Law for various types of affordable housing projects, including for-sale cooperative conversions involving housing development fund companies, as well as condominiums for affordable rental projects.
In addition to the expedited treatment from the Department of Law, the Executive Order also requires the New York City Department of Finance to process and record condominium declarations for essential projects involving hospitals or health care facilities, affordable housing and homeless shelters within 30 days of receipt of such filing. Read more in this Nixon Peabody alert.
