New York Private Housing Finance Law Article 11 - HOUSING DEVELOPMENT FUND COMPANIES
- 570 - Short Title.
This article shall be known and may be cited and referred to as the "housing development fund companies law".
- 571 - Statement of Legislative Findings and Purposes.
The legislature hereby finds and declares that there continues to exist in the state a seriously inadequate supply of safe and sanitary dwelling accommodations within...
- 572 - Definitions.
As used in this article, the following terms shall mean and include: 1. "Commissioner." The commissioner of housing and community renewal of the state of...
- 573 - Incorporation and Organization of Non-Profit Housing Corporations.
1. A housing development fund company shall be incorporated pursuant to the provisions of this article and the provisions of either (a) the business corporations...
- 574 - Establishment of Fund.
1. There is hereby created and established in the division of housing and community renewal a revolving fund to be known as the "housing development...
- 574-a - Municipal Housing Development Fund.
1. A municipality may create and establish a revolving fund to be known as the "municipal housing development fund." Such a revolving fund shall be...
- 575 - Advances; Conditions; Repayment.
1. The commissioner of housing and community renewal is hereby authorized to use the moneys held in the housing development fund to make non-interest bearing...
- 576 - Regulatory Agreements.
1. Every housing development fund company as a condition precedent to receiving an advance pursuant to this article, shall enter into an agreement with the...
- 576-a - Acquisition and Disposition of Real Property by Municipality.
1. Real property may be acquired by a municipality for a housing development fund company by gift, grant, devise, purchase, condemnation pursuant to the provisions...
- 576-b - Special Provisions With Respect to State Urban Development Corporation Projects.
Any state urban development corporation project shall comply with the requirements of local laws, ordinances, codes, charters or regulations applicable to the construction, reconstruction, rehabilitation,...
- 576-c - Loans to Housing Development Companies by a Municipality.
* 1. In addition to the powers granted to municipalities pursuant to this article, a municipality, acting by its supervising agency, may make loans for...
- 576-d - Master Servicing Agreement.
1. The commissioner is hereby authorized to use the monies held in the housing development fund to make advances to a local loan administrator that...
- 576-e - Municipal Housing Assistance Fund.
1. A municipality may create and establish a fund to be known as the "municipal housing assistance fund". Such a fund shall be created and...
- 577 - Tax Exemptions.
1. (a) The local legislative body of any municipality in which a project of a housing development fund company is or is to be located...
- 577-a - Adjusting Fair Rental Equalization for the Elderly.
(a) For the purpose of enabling lower income elderly persons to continue in occupancy without paying rentals in excess of a fair proportion of their...
- 577-b - Payment of Arrears for Certain Taxes.
1. The term eligible property as used in this section shall mean a multiple dwelling located in a city with a population of one million...
- 578 - Advisory and Educational Services.
The commissioner and the supervising agency are each hereby authorized to provide to housing development fund companies such advisory, consultative, training and educational services as...
- 579 - Rules and Regulations.
The commissioner and the supervising agency shall each have power to make rules and regulations to carry out their respective powers and duties pursuant to...
- 580 - Examination by Comptroller.
1. The comptroller, or his legally authorized representative, is hereby authorized and empowered from time to time to examine the books and accounts of the...
- 581 - Inconsistent Provisions in Other Laws Superseded.
Insofar as the provisions of this article are inconsistent with the provisions of any other law, general, special or local, the provisions of this article...
- 582 - Separability Clause.
If any clause, sentence, paragraph, section or part of this article shall be adjudged by any court of competent jurisdiction to be invalid such judgment...
Last modified: February 3, 2019