The New York City Council approved Int. No. 1249-A, establishing a small residential repair loan program. This program will provide interest-free loans to owners of small residential buildings, enabling them to make necessary repairs. The Department of Housing Preservation and Development (HPD) will administer the program. The bill is expected to take effect 90 days after becoming law. The fiscal impact on HPD for administration and loan provision is anticipated but unquantified at this time.