NY Priv Hous Fin L § 608 (2021)
2021 New York Laws PVH - Private Housing Finance Article 13 - Miscellaneous 608 - Rent Regulation of Rehabilitated Multiple Dwellings Aided by Certain Federal Housing Assistance Programs.

§  608.  Rent  regulation of rehabilitated multiple dwellings aided by   certain federal  housing  assistance  programs.  1.  In  cities  with  a   population  of one million or more, upon completion of rehabilitation of   a class A multiple dwelling which is aided by a  mortgage  loan  entered   into  in  conjunction  with  a  housing  assistance payments contract in   connection with moderate rehabilitation pursuant to section eight of the   United States  housing  act  of  1937,  as  amended,  the  agency  shall   establish  the  initial  rent  for  each rental dwelling unit within the   rehabilitated  or  converted  multiple  dwelling   notwithstanding   the   provisions  of, or any regulation promulgated pursuant to, the emergency   housing rent control law, the local emergency housing rent control  act,   the  emergency tenant protection act of nineteen seventy-four, the local   rent stabilization law or any local law enacted pursuant thereto.  After   the  agency  has set the initial rents, all rental dwelling units within   such rehabilitated or converted multiple dwellings shall become  subject   to the rent stabilization law of nineteen hundred sixty-nine.2.  The  occupant  in  possession  of  such  a  dwelling unit when the   multiple dwelling is made subject  to  the  rent  stabilization  law  of   nineteen  hundred  sixty-nine  shall be offered a choice of a one or two   year  lease  at  the   initial   rents   established   by   the   agency   notwithstanding  any  contrary  provisions  of,  or  regulations adopted   pursuant to, the rent stabilization law of nineteen hundred  sixty-nine,   and the emergency tenant protection act of nineteen seventy-four.3.  Prior  to  establishing  initial  rents the agency shall cause all   tenants in occupancy of such mulitple dwelling to be  notified  of,  and   have an opportunity to comment on, the contemplated rehabilitation. Such   notification  shall advise such tenants of the approximate expected rent   increase and the subsequent availability of a one  or  two  year  lease.   Such  notification  and  opportunity to comment shall be provided before   the rehabilitation and again after  the  construction  is  complete  and   before the establishment of the initial rents.4. For the purposes of this section, "multiple dwelling" shall include   any  class  A  multiple  dwelling  having three or more units, and shall   include multiple family garden-type maisonette dwelling complexes  under   single  ownership  having  common facilities such as a sewer line, water   main and heating plant notwithstanding the  fact  that  certificates  of   occupancy  were  issued  for  portions  thereof  as  one  or  two family   dwellings.5. For the  purposes  of  this  section,  the  meaning  of  the  terms   "agency",  "conversion", "non-residential property" and "rehabilitation"   shall be the meaning provided pursuant to section eight hundred  one  of   this chapter.6.  The  agency  may promulgate supplementary rules and regulations to   carry out the provisions of this  section,  not  inconsistent  with  the   provisions of this section.