S3397: Enacts the faith-based affordable housing act

What it requires

Enacts the "faith-based affordable housing act" for development on residential land; defines terms; provides that each village, town, and city shall allow the construction and occupation of residential buildings on any covered site up to the specified densities; provides that all residential buildings constructed pursuant to this section in a town, village, or city with fewer than one million inhabitants shall set aside twenty percent of the residential floor area for households earning an average of eighty percent of area median income; outlines the densities for New York city; makes related provisions.