Albany County Executive Daniel P. McCoy joined with the Albany County Legislature to formally announce two new initiatives to address the housing shortage and support those looking to purchase their first home. These programs are part of Albany County’s ongoing commitment to improving housing options and are expected to encourage responsible housing growth, improve affordability, and create more vibrant, sustainable communities.

Albany County will be seeking proposals for a qualified individual or organization for the Albany County First-Time Homebuyer Navigator Program. This new initiative will make $240,000 available over a potential three-year period, and will remove many of the common barriers faced by first-time homebuyers by providing hands-on, expert assistance with funding opportunities, navigating the step-by-step process of purchasing a home, and providing advice and insight into the rehabilitation process of dilapidated homes. This includes counseling on securing State of New York Mortgage Agency (SONYMA) and Federal Housing Administration (FHA) loans, 203k rehab loans to purchase and renovate vacant homes in need of repair, and other existing support resources. The Navigator will focus primarily on assisting low- and moderate-income individuals.

The Albany County Legislature, in collaboration with County Executive McCoy, will also introduce a local law in April to provide a partial real property tax exemption for residents who construct accessory dwelling units (ADUs) on existing residential properties. ADUs are any attached or a detached residential dwelling unit that provides complete independent living facilities for one or more people on the same lot as the single-family or multi-family dwelling. The exemption will be applied to the increase in assessed value of a parcel as a result of construction, reconstruction, alteration, or improvement on the parcel to create one or more accessory dwelling units where the increase in value is at least $3,000 and is subject to a cap of $200,000 in increased market value. The resulting increase in the assessed value of eligible property is fully exempt for five years and then partially exempt over the following five years in decreasing percentages (75%, 50%, 25%, 15% and 5%). This tax exemption will lower upfront costs, making ADU construction more feasible and increasing the housing supply. This in turn will provide lower cost housing options for seniors on fixed incomes, young-professionals, and others. Eligible ADUs cannot be utilized for short term rentals. The effective date of this local law upon passage will be January 1, 2026.

“The lack of affordable housing is one of the greatest challenges facing Albany County and our country as a whole. By offering a tax exemption on the construction of Accessory Dwelling Units, we’re encouraging homeowners to create more unique housing options. Additionally, through the Albany County First-Time Homebuyer Navigator Program, we’re helping more people achieve the dream of homeownership while incentivizing the renovation of vacant properties. These initiatives are just the beginning, we’re committed to real solutions that make housing more accessible and our communities stronger,” said Albany County Executive Daniel P. McCoy.

“Thanks to the passionate drive of our Deputy Chairwoman, housing has become a priority we are dedicating time and resources to. Our first step came last year with the creation of the Housing Working Group. Out of those conversations our Housing Agenda was born. Today’s announcements are just our latest additions. By guiding first-time homebuyers and those looking for rehabilitation opportunities through the complexities of the process alongside rewarding residents for investing in their property and thus freeing up housing inventory, we are sending a very clear message: Albany County is pro-housing. I am proud to collaborate with our County Executive on this and applaud his work helping us lead the way in creating more housing – especially affordable housing – in Albany County,” said Albany County Legislature Chairwoman Joanne.

“These initiatives add to the Legislature's Housing Agenda that supports everyone in Albany County. In countless academic studies, analyzing almost every metric of success, stable housing is a key force for good. The First-Time Homebuyer Navigator program will lift the veil of confusion that can intimidate people from getting their first home or reclaiming neglected properties. This new local law will encourage residents to invest in accessory dwelling units by creating a tax-exemption window so their budgets aren’t strained while freeing up sorely needed housing inventory. This combination helps our needs in this moment while also addressing historic inequities in housing opportunities that people of color in Albany County have dealt with stretching back nearly a century. As community leaders we are using evidence-based research and our knowledge of past practices to inform our decisions in the present as we endeavor to help all of the people of Albany County in the future,” said Albany County Legislature Deputy Chairwoman Wanda Willingham.

“Our residents asked for more housing options—and we delivered. Building on the ADU law we passed last year to provide a property tax exemption for families who build living spaces for aging parents or grandparents, this new legislation expands that exemption to include all accessory dwelling units added to existing residential properties. Combined with the First-Time Homebuyer Navigator Program, we are tackling housing challenges head-on. The Democratic Majority is committed to pursuing innovative solutions that expand access to housing and strengthen Albany County neighborhoods,” said Albany County Legislature Democratic Majority Leader Dennis Feeney

The RFP for the First-Time Homebuyer Navigator will formally be opened to the public for submissions on Thursday, March 27.  Proposals must be received no later than 4:30PM on Friday April 11. Submissions can be submitted online via http://www.empirestatebidsystem.com or in person to the Albany County Purchasing Agent, 112 State Street, Room 1000, Albany, NY 12207.

###