reglab/housing_qa huggingface dataset:
NY Priv Hous Fin L § 551 (2021)
2021 New York Laws PVH - Private Housing Finance Article 10 - Sale or Lease of Projects 551 - Definitions.

§ 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   authority or municipality, the cost of  acquisition  shall  include  the   purchase  price,  costs  incidental  to  the  transfer of title, and the   estimated cost, if any, of  necessary  alterations  and  repairs  to  be   performed  within  six  months  after  transfer  of title to the housing   company. Such cost of acquisition  shall,  in  the  case  of  a  limited   dividend  or  state-aided  limited-profit housing company, be determined   and certified by the commissioner; in the case  of  a  municipally-aided   housing company, it shall be determined and certified by the supervising   agency.In  the case of a project leased from a municipality or authority, the   cost of acquisition shall be the value of the lease to the  company,  as   determined  and  certified  by the commissioner in the case of a limited   dividend or  state-aided  limited-profit  housing  company,  or  by  the   supervising  agency,  in  the case of a municipally-aided limited-profit   housing company.2. "Housing company." A limited dividend  or  limited  profit  housing   company  organized pursuant to the provisions of article four or article   two of this chapter.3.  "Project."  A  specific  work  or  improvement,  including  lands,   buildings  and  improvements  acquired,  owned,  constructed, managed or   operated  by  an  authority  or  a  municipality  to  provide   dwelling   accommodations for persons of low income.
NY Priv Hous Fin L § 552 (2021)
2021 New York Laws PVH - Private Housing Finance Article 10 - Sale or Lease of Projects 552 - Sale or Lease of Projects.

§  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 subsequent to the physical completion   thereof, to a housing company, without public bidding,  public  sale  or   public  offering,  and  a housing company may accept, purchase, lease or   otherwise acquire such project or  part  thereof  upon  such  terms  and   conditions  as  may be agreed upon by such authority or municipality and   such housing company, and provided that such sale or lease and the terms   and  conditions  thereof  shall  be  subject  (a)  in  the  case  of   a   federally-aided  project, to the approval of the federal government; (b)   in  the  case  of  a  state-aided  project,  to  the  approval  of   the   commissioner;  or  (c)  in the case of municipally-aided project, to the   approval of the supervising agency and the local  legislative  body.  In   the  event  of  a grant, sale, lease or conveyance of a project prior to   the physical completion thereof, the authority or municipality may agree   to complete construction and development of such project.2. The purchase price to be paid on or prior to the date  of  transfer   of  title,  or upon the physical completion of the project, shall not be   less than the amount required by the municipality or  authority  to  pay   and  retire, or to make provision for the payment and retirement of, all   bonds, notes  and  other  obligations  issued  by  the  municipality  or   authority to finance the project cost.3.  An  authority or a municipality which has granted, sold, leased or   conveyed a project or part thereof to a housing company may reenter  all   or  part  of such project in the manner provided in section five hundred   four of this chapter.4. The sale or lease  of  a  project  to  a  housing  company  may  be   conditioned on the inclusion in the certificate of incorporation of such   housing  company of a provision that no dividends or interest be paid on   all or any issues of stock or debentures.5. The parties to any lease or conveyance effecting the transfer of  a   publicly-assisted  project  to  a housing company, executed prior to the   effective date hereof, may amend such lease or conveyance in  accordance   with the provisions of this article.
NY Priv Hous Fin L § 553 (2021)
2021 New York Laws PVH - Private Housing Finance Article 10 - Sale or Lease of Projects 553 - Conditions Precedent to Sale or Lease.

§  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 days published   notice, and with the approval of the government providing the  financial   assistance,  shall  find  that  such  transfer  is  in  the  best public   interest, (2) adequate provision will be made for tenant relocation, and   (3) adequate provision will be made for the payment or retirement of all   bonds, notes  and  other  obligations  issued  by  the  municipality  or   authority to finance the project cost.
NY Priv Hous Fin L § 554 (2021)
2021 New York Laws PVH - Private Housing Finance Article 10 - Sale or Lease of Projects 554 - Provisions of Lease.

§  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  the lessor;  (b)  may  require  that  provision  be  made  for  the  retirement and surrender of all outstanding shares and debentures upon the  termination of the lease;  (c)  may reserve such easements or other rights in connection with the property as may be deemed necessary or desirable for the future planning and  development  of  the  municipality  and  the  extension  of  public facilities therein;  (d)  shall  contain  a provision authorizing the lessor to designate a director of the housing company; and  (e) may contain such other provisions as are not inconsistent with the provisions of this chapter.   2. Such lease shall not  impose  upon  the  lessor  any  liability  or obligations  in  connection  with  or  arising  out  of  the  financing, construction, reconstruction, alteration, management or operation  of  a project,  but  such  lease  shall  contain  such  provisions  as  may be necessary to protect the interests of the authority or municipality.
NY Priv Hous Fin L § 555 (2021)
2021 New York Laws PVH - Private Housing Finance Article 10 - Sale or Lease of Projects 555 - Financial Structure.

§  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 title to a project shall be equivalent to at least twenty per centum of the cost of acquisition of such project as certified by  the  commissioner  in  the  case  of  companies  organized pursuant  to the provisions of article four of this chapter, or at least ten per centum of the cost of  acquisition  in  the  case  of  companies organized  pursuant to the provisions of article two of this chapter, as certified by the commissioner or supervising agency, as the case may be.  (b) The  entire  amount  to  be  paid  in  cash  or  property  by  the stockholders and income debenture holders of a housing company acquiring a   project  by  lease  shall  be  determined  by  the  commissioner  or supervising agency, as the case may  be.  In  the  event  a  state-aided project  shall  be acquired by a municipally-aided company by lease, the approval of the commissioner  shall  be  required  in  addition  to  the approval of the supervising agency.   2. The provisions of subdivision one hereof shall not be applicable to any  housing  company organized pursuant to article four of this chapter if such company shall receive a loan from the federal government or  any instrumentality thereof, or if any mortgage or mortgage bonds insured by the federal housing administration are used in financing the project, or the  acquisition  thereof,  in whole or in part. In such case the equity required shall be the difference between the  amount  of  such  loan  or mortgage and the cost of acquisition.
NY Priv Hous Fin L § 556 (2021)
2021 New York Laws PVH - Private Housing Finance Article 10 - Sale or Lease of Projects 556 - Tax Exemptions.

§  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 real property   in  a  project  sold  or  leased  as  provided in this article, when the   transfer thereunder becomes effective, shall be exempt  from  local  and   municipal  taxes, other than assessments for local improvements, only to   such extent as may be granted by  the  local  legislative  body  of  any   municipality  in  which such project is located; provided, however, that   any company to which such project is so sold or leased shall  pay,  with   respect  to  each such project, local and municipal taxes in amounts not   less than the sum or sums which the authority would be obligated to  pay   to  the  municipality  had  it  not  sold  or leased the project to such   company. The tax exemption shall operate and continue  (1)  so  long  as   capital  loans of the company to which such project shall have been sold   or leased are outstanding, or in case of lease, so long  as  obligations   of  the  municipality  or authority to the government granting financial   assistance to the municipality or authority with respect to the  project   so  leased  shall continue and (2) until and unless the project shall be   repossessed by the authority or municipality. Any project that  received   a  tax  exemption under this section may, upon the expiration of the tax   exemption period, be granted an additional tax exemption period of up to   fifty years, or until such time as the project  is  no  longer  operated   under  the  restrictions and for the purposes set forth in this article,   whichever is sooner.
NY Priv Hous Fin L § 557 (2021)
2021 New York Laws PVH - Private Housing Finance Article 10 - Sale or Lease of Projects 557 - Supervision of Certain Housing Companies.

§  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 the provisions of section fourteen of this  chapter   requiring  the consent of the commissioner of housing to the filing of a   certificate of incorporation of a limited-profit housing company in  the   office of the secretary of state and amendments thereof, shall not apply   to  a  municipally-aided  housing  company  organized for the purpose of   purchasing or leasing a  federally-aided  project  or  municipally-aided   project  from  a  municipality  or  housing authority. The deed or lease   shall, in such  cases,  make  provision  for  the  supervision  of  such   companies by one or more state, federal or municipal agencies.
NY Priv Hous Fin L § 558 (2021)
2021 New York Laws PVH - Private Housing Finance Article 10 - Sale or Lease of Projects 558 - Subsidies.

§  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  a  housing  company,  and  the  obligation  of  a   municipality to make subsidies in at least an equal amount, as  required   by  section  seventy-three  of the public housing law, shall cease as of   the last day of the fiscal year next after the  effective  date  of  the   grant, sale, lease or conveyance.2.  In  the event that an authority or municipality which has granted,   sold, leased or conveyed a project to a housing company, for any  reason   or in any way resumes possession of such project, the obligations of the   state  and  municipality  to  pay subsidies, as provided by the terms of   section seventy-three  of  the  public  housing  law,  shall  be  deemed   restored  as  of the first day of the fiscal year next prior to the date   of such resumption of possession of such project.
NY Priv Hous Fin L § 559 (2021)
2021 New York Laws PVH - Private Housing Finance Article 10 - Sale or Lease of Projects 559 - Savings Clause.

§  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, shall not affect or impair the validity of any action taken   by  any public official under the law in effect immediately prior to the   time this article shall take effect nor affect or impair any contract or   remedy or any act done or right accruing, accrued or  acquired,  or  any   penalty,  forfeiture  or  punishment  under  or by virtue of the laws so   repealed and in existence prior to the  time  when  this  article  takes   effect,  but  the  same may be asserted, enforced or prosecuted, and for   such purposes all of the laws specified in section  five  hundred  sixty   are hereby continued in full force and effect.2. This article or anything herein contained shall not affect or abate   any  actions,  proceedings,  civil or criminal, pending at the time when   this article takes effect, brought by, for or  against  the  state,  any   municipality,  authority,  limited  dividend  or  limited-profit housing   company, under or in pursuance of the provisions of the laws repealed or   amended by this article or act; but all such actions or proceedings  may   be continued, prosecuted, conducted and completed.3. 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 shall not  affect,  impair  or  invalidate  the  remainder   thereof, but shall be confined in its operation to the clause, sentence,   paragraph,  section or part thereof directly involved in the controversy   in which such judgment shall have been rendered.4. The provisions of this article shall be construed liberally  so  as   to facilitate the purposes of this article.
NY Priv Hous Fin L § 560 (2021)
2021 New York Laws PVH - Private Housing Finance Article 10 - Sale or Lease of Projects 560 - Laws Repealed.

§  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 section one hundred thirty-two of   such law, as amended by chapter one hundred forty-eight of the  laws  of   nineteen hundred forty, and section one hundred thirty-three of such law   are hereby repealed.
NY Priv Hous Fin L § 570 (2021)
2021 New York Laws PVH - Private Housing Finance Article 11 - Housing Development Fund Companies 570 - Short Title.

§  570.  Short title. This article shall be known and may be cited and   referred to as the "housing development fund companies law".
NY Priv Hous Fin L § 571 (2021)
2021 New York Laws PVH - Private Housing Finance Article 11 - Housing Development Fund Companies 571 - Statement of Legislative Findings and Purposes.

§ 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 the financial reach of families and persons of low  income.  This   condition  is  contrary to the public interest and threatens the health,   safety, welfare, comfort and security of the people of the state.The  legislature  further  finds  and  declares  that   the   ordinary   operations  of  private  enterprise cannot provide an adequate supply of   safe and sanitary dwelling accommodations at rentals which families  and   persons of low income can afford.The   legislature   further   finds  that  eleemosynary  institutions,   settlement houses, fraternal and labor  organizations,  foundations  and   other  non-profit  associations  are desirous of organizing companies to   build or rehabilitate housing for low income families; that in order for   such organizations to build or rehabilitate housing, such  organizations   need and can effectively utilize development funds to procure government   aided or other permanent financing therefor.The  legislature  further  finds  that  such development funds and the   provision of technical assistance in the organization and management  of   housing  development  fund  companies  will  maximize  federal funds and   credits which may be available for the  provision  of  housing  for  low   income residents of the state.It  is  the  purpose  of  this  act to provide temporary financial and   technical assistance  to  enable  such  companies  to  participate  more   effectively in existing municipal, state and federal assistance programs   and  to  make more effective use of other sources of financing which may   be available for housing of persons and families of low income.It is further the purpose of this  article  to  coordinate  activities   aided  under  existing  municipal, state and federal programs with other   public and private actions in order to provide the  most  effective  and   economical  concentration  of federal, state, local, and private efforts   to increase the supply of housing  accommodations  for  persons  of  low   income,  and  thereby  improve the quality of life for all the people of   the state.It is further the purpose of this article to  provide  assistance  for   existing not-for-profit housing companies by providing advances from the   housing   development   fund   to   facilitate   the  rehabilitation  or   construction of housing for low income families.It is further the purpose of this article to  provide  assistance  for   the  improvement  of  housing  for  farmworkers by providing advances to   local loan administrators to make loans to  agricultural  producers  for   the  purpose  of  constructing  or  improving  non-conforming farmworker   housing in order to comply  with  state  regulations  relating  to  such   housing.
NY Priv Hous Fin L § 574 (2021)
2021 New York Laws PVH - Private Housing Finance Article 11 - Housing Development Fund Companies 574 - Establishment of Fund.

§  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 fund."2. There shall be paid into such  housing  development  fund  (a)  any   moneys  appropriated and made available by the state for the purposes of   such fund, (b) notwithstanding the provisions of the state  finance  law   or  any other provision of law, any moneys which the division of housing   and community renewal shall receive in repayment of advances  made  from   such  fund,  and (c) any other moneys which may be made available to the   division of housing and community renewal for the purpose of  such  fund   from any other source or sources.2-a. All moneys paid into the fund from repayments of loans authorized   by  section five hundred seventy-six-d of this article shall continue to   be made available for the purpose of providing loans  pursuant  to  such   section.3.  Any  moneys held in such housing development fund not required for   immediate disbursement  may  be  invested,  at  the  discretion  of  the   commissioner,   in  obligations  of  the  state  or  the  United  States   government or obligations  the  principal  and  interest  of  which  are   guaranteed  by  the state or the United States government. Any income or   interest earned by, or increment to, such housing development fund shall   be added to the moneys  held  in  such  fund  for  the  purposes  herein   provided.
NY Priv Hous Fin L § 574-A (2021)
2021 New York Laws PVH - Private Housing Finance Article 11 - Housing Development Fund Companies 574-A - Municipal Housing Development Fund.

§  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 created and   established in the supervising agency.2. There shall be paid into such municipal  housing  development  fund   (a)  any  moneys appropriated and made available by the municipality for   the purposes of such fund, (b) notwithstanding  the  provisions  of  the   local  finance law or any other provision of law, any moneys received in   repayment of advances made from such fund,  and  (c)  any  other  moneys   which  may  be  available  for  the  purpose of such fund from any other   source or sources.3. Any moneys held in such  municipal  housing  development  fund  not   required  for  immediate disbursement may be invested, at the discretion   of the supervising agency, in obligations of the  state  or  the  United   States government or obligations the principal and interest of which are   guaranteed  by  the state or the United States government. Any income or   interest earned by, or increment to, such municipal housing  development   fund  shall  be  added  to the moneys held in such fund for the purposes   herein provided.
NY Priv Hous Fin L § 576-A (2021)
2021 New York Laws PVH - Private Housing Finance Article 11 - Housing Development Fund Companies 576-A - Acquisition and Disposition of Real Property by Municipality.

§ 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  of  article  nine  of  this  chapter,  or   otherwise.2. Notwithstanding any other provision of general,  special  or  local   law,  charter  or ordinance, a municipality may sell, lease or otherwise   dispose of real property to a housing development fund  company  without   public  auction or sealed bids, provided that notice of such sale, lease   or other disposition is published and a hearing is held before the local   legislative body not less than ten days after such publication.3. In any case where a municipality shall acquire real property for or   convey real property to a housing development  fund  company  under  the   provisions  of  this  section,  the deed or lease of the property to the   housing development fund company shall  contain  appropriate  provisions   restricting  the  disposition of the property by the housing development   fund company,  through  provisions  for  a  reversion  of  the  property   conditioned  on  its  continued  use for purposes of housing, provisions   requiring the approval  of  the  municipality  to  any  sale,  transfer,   exchange, assignment or lease, or otherwise.