New York Private Housing Finance Law Article 10 - SALE OR LEASE OF PROJECTS

• 550 - Application of Article.
  This article shall apply only to federal, state or municipal projects purchased or leased from municipalities or housing authorities by housing companies. Except as otherwise...
• 551 - Definitions.
  As used in this article, the following terms shall mean and include: 1. "Cost of acquisition." In the case of a project purchased from an...
• 552 - Sale or Lease of Projects.
  1. An authority or a municipality may grant, sell, lease or convey a project, or part thereof, either prior to, at the date of, or...
• 553 - Conditions Precedent to Sale or Lease.
  No such grant, sale, lease or conveyance under this article shall be made unless (1) the authority or municipality, after a public hearing on ten...
• 554 - Provisions of Lease.
  1. Every lease of a project or a part thereof to a housing company: (a) shall provide that all improvements shall be the property of...
• 555 - Financial Structure.
  1. (a) The entire amount to be paid in cash or property by the stockholders and income debenture holders of a housing company acquiring fee...
• 556 - Tax Exemptions.
  Notwithstanding the provisions of section fifty-two, subdivisions three and four of the public housing law, or of sections thirty-three or ninety-three of this chapter, the...
• 557 - Supervision of Certain Housing Companies.
  The provisions of section thirteen of this chapter requiring the approval by the commissioner of housing of the persons incorporating a limited-profit housing company, and...
• 558 - Subsidies.
  1. The obligation of the state to pay periodic subsidies to an authority or municipality for a project which has been leased or sold to...
• 559 - Savings Clause.
  1. The repeal of laws as specified in section five hundred sixty of this article, or amendment of any law as provided by this act,...
• 560 - Laws Repealed.
  Subdivision four of section thirty-seven of the public housing law, as added by chapter nine hundred fifty-nine of the laws of nineteen hundred sixty, and...

Last modified: February 3, 2019