§ 699-b. Long Island workforce housing program. 1. When a local
government approves a subdivision plat or site plan for five or more
residential units or a mixed-use development that incorporates five or
more residential units, except as otherwise provided in subdivision two
of this section, the applicant shall receive a density bonus or other
incentive pursuant to a written agreement between the applicant and the
local government and such local government shall require of the
applicant:

(a) the set aside of at least ten percent of such units for affordable
workforce housing on site; or

(b) the provision of other land and the construction of the required
affordable workforce housing units that are not part of the applicant's
current subdivision plat or site plan but are to be provided on another
site within the same local government; or

(c) the payment of a fee equal to two times the median income for a
family of four for the Nassau-Suffolk primary metropolitan statistical
area as defined by the federal Department of Housing and Urban
Development, for each additional unit which results, or would have
resulted, from the density bonus or, when such fee exceeds the appraised
value of each lot resulting from such density bonus, then such fee shall
be equal to the appraised value of the lot or lots, or the equivalent
thereof, for each additional unit created by the density bonus. All fees
collected by the local government as provided in this section shall, at
the sole discretion of the local government, be:

(i) deposited in a single trust fund under the control of the local
government to be kept in trust and separate and apart from all other
monies of such local government, for the specific purpose of
constructing affordable workforce housing, acquiring land for the
purpose of providing affordable workforce housing or rehabilitating
structures for the purpose of providing affordable workforce housing.
Pending expenditures from such trust fund, monies therein may be
invested in the manner provided by law. Any interest earned or capital
gain realized on the monies so deposited shall accrue to and become part
of such trust fund; or

(ii) paid to another local government within the county within which
the local government paying such monies is located, pursuant to an
intermunicipal agreement, to be kept in trust and separate and apart
from all other monies of such other local government, for the specific
purpose of constructing affordable workforce housing, acquiring land for
the purpose of providing affordable workforce housing or rehabilitating
structures for the purpose of providing affordable workforce housing
within such other local government. Pending expenditures from such trust
fund, monies therein may be invested in the manner provided by law. Any
interest earned or capital gain realized on the monies so deposited
shall accrue to and become part of such trust fund; or

(iii) paid into a single trust fund under the control of the Long
Island Housing Partnership to be kept in trust and separate and apart
from all other monies of such partnership, fifty percent of which shall
be used for the specific purpose of constructing affordable workforce
housing, acquiring land for the purpose of providing affordable
workforce housing or rehabilitating structures for the purpose of
providing affordable workforce housing within the county within which
the local government paying such monies is located. The remaining fifty
percent of such funds shall be used to provide downpayment assistance to
eligible homebuyers who qualify for the existing employer assistance
housing benefit program administered by such partnership. The
downpayment assistance funds shall be secured by a note and mortgage on
the property purchased with such funds and shall be fully repaid to the
fund by the recipient upon the sale or refinancing of the aforementioned
property.

2. The provisions of this article shall not apply when an applicant
elects a lesser percentage than the maximum allowable residential
density, or floor area ratio if part of a mixed-use development, under
the applicable zoning ordinance and comprehensive plan in effect as of
the date of the application by the applicant to the local government.

3. Local governments shall ensure that all affordable housing units
created pursuant to this article remain affordable. Subsequent
purchasers of such units shall have at the time of purchase, pursuant to
the definition of "affordable workforce housing", an income at or below
one hundred thirty percent of the median income for the Nassau-Suffolk
primary statistical area as defined by the federal Department of Housing
and Urban Development.

4. Within six months of the establishment of a trust fund as set forth
in subparagraphs (i) and (ii) of paragraph (c) of subdivision one of
this section, the local government shall issue guidelines and policies
which shall govern the expenditure of trust fund monies. Any monies that
are not expended by the local government three years from the date of
such monies being collected shall be paid into a single trust fund under
the control of the Long Island Housing Partnership, as set forth in
subparagraph (iii) of paragraph (c) of subdivision one of this section.

5. A local government may enter into intermunicipal agreements with
any local government within the same county to meet the purposes of this
article.