New York Private Housing Finance Law Article 8-A - SMALL LOANS TO OWNERS OF MULTIPLE DWELLINGS TO REMOVE SUBSTANDARD OR INSANITARY CONDITIONS

• 450 - Policy and Purposes of Article.
  It is hereby declared that there exists in municipalities in this state a seriously inadequate supply of safe and sanitary dwelling accommodations; that such shortage...
• 451 - Definitions.
  As used in this article the following terms shall mean: 1. "Existing multiple dwelling." Any dwelling classified as a multiple dwelling pursuant to the multiple...
• 452 - Loans to Owners.
  1. Notwithstanding the provisions of any general, special or local law, a municipality is hereby authorized to make or contract to make loans to the...
• 453 - Conditions Precedent to Making Such Loans.
  1. No such loan shall be made by a municipality to an owner of an existing multiple dwelling unless the owner of such multiple dwelling...
• 454 - Servicing of Municipal Loans by Banking Institutions.
  The municipality is authorized to make provision, either in the loan agreement or by separate agreement, for the performance by one or more banking institutions...
• 455 - Rules and Regulations.
  The supervising agency may promulgate supplementary rules and regulations to carry out the provisions of this article, not inconsistent with the provisions of this article.
• 456 - Minimization of Displacement.
  * The supervising agency shall use its best efforts to ensure that activities carried out pursuant to subdivisions seven and eight of section four hundred...
• 457 - Records.
  * The supervising agency shall take reasonable steps to determine and maintain a record of tenants economically displaced by virtue of the exercise of powers...

Last modified: February 3, 2019