reglab/statecodes huggingface dataset:
2023 New York Laws › PVH - Private Housing Finance › Article 8-A - Small Loans to Owners of Multiple Dwellings to Remove Substandard or Insanitary Conditions › 456 - Minimization of Displacement.

* §  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 fifty-two of this
  article  are  structured  so  as  to  minimize  the  likelihood  of  any
  involuntary  economic  displacement  of  tenants  who reside in multiple
  dwellings  which  are  the  subject  of  such  activities.  However,  if
  temporary  physical  displacement  is  required  as  a  direct result of
  rehabilitation  work  which  is  performed  in  such  multiple  dwelling
  receiving  a loan pursuant to this article suitable temporary relocation
  arrangements shall be provided.
* NB Expires July 1, 2024
2023 New York Laws › PVH - Private Housing Finance › Article 8-A - Small Loans to Owners of Multiple Dwellings to Remove Substandard or Insanitary Conditions › 457 - Records.

* §  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 granted pursuant to subdivisions seven
  and eight of section four hundred fifty-two of this article.
* NB Expires July 1, 2024
2023 New York Laws › PVH - Private Housing Finance › Article 8-B - Loans to Owners of One to Four Unit Private and Multiple Dwellings › 470 - Policy and Purposes of Article.

§ 470. Policy and purposes of article. It is hereby declared and found
  that  there  exists  in  municipalities within the state substandard and
  unsanitary areas and neighborhoods containing deteriorated one  to  four
  unit  private  and  multiple  dwellings,  and that the rehabilitation or
  preservation of such dwellings is necessary  in  order  to  aid  in  the
  prevention  and  elimination  of  slums  and  blight  in  such areas and
  neighborhoods.
It further is  found  that  there  exists  in  such  municipalities  a
  seriously  inadequate  supply  of  safe  and  sanitary  one to four unit
  private and multiple dwellings, particularly  for  persons  of  low  and
  moderate  income,  that existing non-compliance with local housing codes
  and with the multiple  dwelling  law  and  the  multiple  residence  law
  threatens   to  decrease  such  supply,  and  that  the  rehabilitation,
  preservation and improvement of such dwellings is  necessary  to  arrest
  such conditions of deterioration.
It  further  is  found  that  the  elimination  of  such conditions by
  rehabilitation or other improvements in one to  four  unit  private  and
  multiple  dwellings cannot be readily provided without public aid in the
  form of low interest loans or grants to owners of such one to four  unit
  dwellings.
The  rehabilitation, preservation or other improvement of such private
  and multiple dwellings  is  hereby  declared  a  public  purpose  and  a
  municipal purpose for which public monies may be loaned or granted.
In  order,  further, to promote the preservation and rehabilitation of
  such dwellings, it is hereby declared that additional provisions  should
  be  made  to  provide public monies for interest reduction subsidies for
  private loans made by private investors for such rehabilitation.
The necessity in the  public  interest  for  the  provisions  of  this
  article is hereby declared as a matter of legislative determination.
2023 New York Laws › PVH - Private Housing Finance › Article 8-B - Loans to Owners of One to Four Unit Private and Multiple Dwellings › 473 - Conditions Precedent to Making Such Loans.

§  473.  Conditions  precedent  to  making such loans. 1. No such loan
  shall be made to an owner of an existing private  or  multiple  dwelling
  unless  the owner of such private or multiple dwelling shall covenant in
  writing that so long as any part of such loan shall remain unpaid or any
  requirement imposed as a condition for making such  loan  that  survives
  the  repayment  of  such  loan,  including,  but  not  limited  to, in a
  regulatory agreement  executed  by  such  owner  and  the  agency  or  a
  restrictive covenant approved by such agency, remains in effect: (i) the
  owner  or  managing  agent or operator of such dwelling shall permit the
  duly authorized officers, employees, agents or inspectors of the  agency
  to enter in or upon and inspect such private or multiple dwelling at all
  reasonable   hours;   (ii)   the   agency   by   such   duly  authorized
  representatives as aforesaid shall have full power to  investigate  into
  and  order  the  owner  of  such  dwelling  to  furnish such reports and
  information  as  it  may  require  concerning  such  rehabilitation   or
  improvement  and  shall have full power to audit the books of said owner
  with  respect  to  such  matters;  and  (iii)  if  the  property  to  be
  rehabilitated  is  a  multiple  dwelling,  the  owner will submit to the
  agency annually a statement of income and expenses of such dwelling,  in
  such form as shall be approved by the agency.
2.  A  municipality shall neither make nor participate in a loan to an
  owner of an existing private  or  multiple  dwelling  pursuant  to  this
  article unless the agency finds that (i) the area in which such dwelling
  is  situated  is a blighted, deteriorated or deteriorating area or has a
  blighting influence on the surrounding area, or is in danger of becoming
  a slum or a blighted area  because  of  the  existence  of  substandard,
  unsanitary,  deteriorating  or  deteriorated conditions, an aged housing
  stock, or other factors indicating an inability of the private sector to
  cause such rehabilitation to be made; or (ii) the owner of such  private
  or multiple dwelling is a person or family of low income.
3.  The  agency  shall  have  the power to impose additional terms and
  conditions precedent to make such loans.
2023 New York Laws › PVH - Private Housing Finance › Article 8-B - Loans to Owners of One to Four Unit Private and Multiple Dwellings › 474 - Servicing of Loans by Banking Institutions and Loan Servicing Companies.

§  474.  Servicing of loans by banking institutions and loan servicing
  companies. 1. The agency is authorized to make provision in the note and
  loan agreement or by separate agreement for the performance  by  one  or
  more banking institutions of such services as are generally performed by
  any  such  bank  itself  owning  and  holding  such a loan and as may be
  approved by the superintendent of financial services for which  services
  a  bank  may make and collect such service charges as the superintendent
  shall prescribe or approve.
2. The agency is authorized to make provision in  the  note  and  loan
  agreement  or by separate agreement for the servicing of such loans by a
  loan servicing company or other qualified entity, as determined  by  the
  agency,  and  such  services  may  include,  but  not be limited to, the
  collection of the debt services on such  loans  and  the  establishment,
  administration, and distribution of an escrow account for the payment of
  the owner's real estate taxes, sewer and water rents and fire insurance.
2023 New York Laws › PVH - Private Housing Finance › Article 8-B - Loans to Owners of One to Four Unit Private and Multiple Dwellings › 475 - Interest Reduction Subsidies.

§ 475. Interest reduction subsidies. Notwithstanding the provisions of
  any  general,  special  or  local law, a municipality, acting through an
  agency, is authorized to  provide,  or  contract  to  provide,  interest
  reduction subsidies for loans made by private investors to owners of one
  to   four  unit  existing  private  or  multiple  dwellings  within  its
  territorial limits, if such owners would have been  eligible  under  the
  provisions  of this article for a loan made by the municipality pursuant
  to this article.
2023 New York Laws › PVH - Private Housing Finance › Article 8-B - Loans to Owners of One to Four Unit Private and Multiple Dwellings › 476 - Mortgage Recording Tax Exemption.

§   476.   Mortgage   recording  tax  exemption.  Notwithstanding  any
  inconsistent provision of law, mortgages to secure a loan made  pursuant
  to  the  provisions  of  this  article shall be exempt from the mortgage
  recording taxes imposed by article eleven of the tax law.
2023 New York Laws › PVH - Private Housing Finance › Article 9 - Acquisition of Property › 500 - Acquisition of Real Property.

§  500. Acquisition of real property. Real property may be acquired by
  a housing company, a limited-profit housing company or by a municipality
  for a housing company or a  limited-profit  housing  company,  by  gift,
  grant, devise, purchase, condemnation or otherwise.
2023 New York Laws › PVH - Private Housing Finance › Article 9 - Acquisition of Property › 502 - Condemnation of Excess Property.

§  502.  Condemnation  of  excess  property.  A  municipality may take
  private property for a limited-profit housing  company  by  condemnation
  for  the  purpose  of  providing  low  rent  housing for families of low
  income,  or  for   the   clearance,   replanning,   reconstruction   and
  rehabilitation  of  areas,  or  for  both  of  such  purposes,  and  for
  recreational and other facilities incidental or appurtenant thereto, but
  in excess of that required for public use after such purposes shall have
  been accomplished. A municipality or a  limited-profit  housing  company
  may  improve  and  utilize such excess property wholly or partly for any
  other public purpose, or may lease or sell  such  excess  property  with
  restrictions   to   preserve   and  protect  the  project  or  projects.
  Proceedings to acquire such  excess  property  may  be  brought  by  the
  municipality  for a limited-profit housing company in the same manner as
  for the real property required for the project and may  be  included  in
  the  proceedings  for  the acquisition of real property required for the
  project.
2023 New York Laws › PVH - Private Housing Finance › Article 9 - Acquisition of Property › 503 - Sale or Lease of Municipal Lands to a Housing Company.

§  503. Sale or lease of municipal lands to a housing company. 1.  The
  local legislative body of a municipality, by resolution,  may  determine
  that  real property of the municipality, specified and described in such
  resolution is not required for use by the municipality and may authorize
  the municipality to sell or  lease  such  real  property  to  a  housing
  company.
2. Notwithstanding the provisions of any general, special or local law
  or  ordinance,  such sale or lease may be made without appraisal, public
  notice or public bidding for such price or rental and  upon  such  terms
  (and, in case of a lease, for such term not exceeding fifty years with a
  right to one renewal term of thirty years) as may be agreed upon between
  the municipality and the housing company.
3.  Before any sale or lease to a housing company shall be authorized,
  a public hearing shall be held by the local legislative body to consider
  the proposed sale or lease.
4. Notice of such hearing shall be published at least ten days  before
  the  date  set for the hearing in such publication and in such manner as
  may be designated by the local legislative body.
5. The deed or lease of such property shall be executed  in  the  same
  manner  as  a  deed or lease by the municipality for other real property
  and shall contain appropriate conditions and provisions  to  enable  the
  municipality to re-enter the property in the event of a violation by the
  housing  company  of  any  of the provisions of this chapter relating to
  such company or of the conditions or provisions of such deed or lease.
6. A housing company purchasing or leasing land from  a  municipality,
  shall  not,  without  the written approval of the municipality, use such
  land for any purpose except in connection with a project approved  under
  this  chapter.  The deed shall contain a condition that the company will
  devote the land granted only for the purposes of a project,  subject  to
  the  restrictions  of  this chapter for breach of which the municipality
  shall have the right to re-enter and repossess itself of the land.
2023 New York Laws › PVH - Private Housing Finance › Article 9 - Acquisition of Property › 504 - Re-Entry of Lands Sold or Leased.

§  504.  Re-entry  of lands sold or leased. 1. After the expiration of
  one year from the sale or lease of real property by the municipality  to
  a  housing company, the municipality shall have the right of re-entry in
  the manner hereinafter provided. Such right of re-entry may,  where  the
  property  has  been sold, be exercised at any time prior to twenty years
  after such sale, or where the property has  been  leased,  at  any  time
  prior  to  the termination of the lease.  The local legislative body may
  by resolution determine to re-enter the real  property  of  any  housing
  company which has purchased or leased property from the municipality.
2. A certified copy of such resolution shall be filed in the office of
  the county clerk or register in which the deed or lease of such property
  is  recorded, and shall be served upon the housing company and also upon
  all obligees, mortgagees or holders of liens upon the real  property  or
  upon  any  interest  therein.  Upon  the  filing  of such resolution all
  indebtedness of the housing company shall  become  immediately  due  and
  payable.
3.  The municipality shall, within ninety days after the filing of the
  resolution to re-enter, or as soon thereafter as may be feasible, pay to
  the company a sum which, together with the assets of such company, shall
  be sufficient to discharge all the indebtedness of the company, pay  the
  reasonable  expenses  of  liquidation  and dissolution and return to the
  holders of stock and debentures then outstanding, the par value  thereof
  plus  interest  at  the rate of six per centum per annum and any accrued
  and  unpaid  dividends  or  interest  on  such  outstanding  stock   and
  debentures.
4.  Upon  the making of such payment the housing company shall deliver
  to the municipality proper instruments evidencing  the  cancellation  of
  the  indebtedness  and  the  surrender  of the rights of the company and
  thereupon the repossession by the municipality shall be complete.
5. In the event of a foreclosure of a mortgage or other lien  held  by
  any  other  person,  bodies, institutions, associations, or corporations
  specified  in  section  eighty-one  the  right  of   re-entry   by   the
  municipality shall terminate upon the entry of a judgment of foreclosure
  and sale.
2023 New York Laws › PVH - Private Housing Finance › Article 9 - Acquisition of Property › 507 - Condemnation Certificate of Commissioner.

§   507.  Condemnation  certificate  of  commissioner.  The  power  of
  condemnation shall not be exercised by a housing  company,  except  with
  the   authorization   of   such   action   by  the  commissioner,  which
  authorization shall be in the form of a certificate declaring  that  the
  acquisition  of  the  property  is  necessary  for the construction of a
  project and that the acquisition is in the public interest and necessary
  for the public use. Such certificate shall be issued only after a public
  hearing. The certificate shall state the nature of the  interest  to  be
  acquired.
2023 New York Laws › PVH - Private Housing Finance › Article 9 - Acquisition of Property › 508 - Notice of Public Hearing.

§  508.  Notice of public hearing. The hearing shall be held at a time
  and place appointed by the commissioner who shall give  notice  of  such
  hearing  by  publication in a newspaper, designated by him, published or
  circulated in  the  municipality  or  county  wherein  the  property  is
  located,  at  least ten days prior to such hearing. Where a municipality
  publishes an official daily publication,  notice  of  hearing  shall  be
  published  only  in  such official publication. A duly certified copy of
  such certificate shall be conclusive evidence as to the matters lawfully
  certified therein in any proceeding to acquire  property,  or  any  part
  thereof, set forth in such certificate.
2023 New York Laws › PVH - Private Housing Finance › Article 10 - Sale or Lease of Projects › 550 - Application of Article.

§  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 expressly provided in this article, the terms  and  provisions
  of  this  chapter and other applicable laws shall apply to projects sold
  or leased to housing companies and to housing companies  acquiring  such
  projects.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 New York Laws › PVH - Private Housing Finance › Article 11 - Housing Development Fund Companies › 576-B - Special Provisions With Respect to State Urban Development Corporation Projects.

§  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,  alteration or improvement of such project, except where
  the state urban development corporation, in its discretion,  finds  such
  compliance  not  feasible  or  practicable,  in which event such project
  shall comply with the requirements of the  state  building  construction
  code,  formulated by the state building code council pursuant to article
  eighteen  of  the  executive  law,  applicable  to  such   construction,
  reconstruction,  rehabilitation,  alteration  or improvement. No county,
  city, town or village shall have power to modify or change the drawings,
  plans  or   specifications   for   the   construction,   reconstruction,
  rehabilitation,  or improvement of any such project or the construction,
  plumbing, heating, lighting or other mechanical branch of work necessary
  to complete the work in question, nor to require that any  person,  firm
  or  corporation employed on any such work shall perform any such work in
  any other or different manner than  that  provided  by  such  plans  and
  specifications, nor to require that any such person, firm or corporation
  obtain   any   other   or  additional  authority,  approval,  permit  or
  certificate from such county, city, town or village as  a  condition  of
  doing such work, nor shall any condition whatever be imposed by any such
  county,  city,  town  or village in relation to the work being done, and
  the doing of any such  work  by  any  person,  firm  or  corporation  in
  accordance  with  the  terms  of such drawings, plans, specifications or
  contracts shall not subject said person,  firm  or  corporation  to  any
  liability  or penalty, civil or criminal, other than as may be stated in
  such contracts or incidental to  the  proper  enforcement  thereof;  nor
  shall  any  county, city, town or village have power to require that any
  subsidiary of the New York state urban development corporation,  or  any
  lessee  therefrom  or successor in interest thereto, obtain any other or
  additional authority, approval, permit, certificate  or  certificate  of
  occupancy  from  such  county,  city,  town or village as a condition of
  owning, using, maintaining, operating or occupying any project acquired,
  constructed,  reconstructed,  rehabilitated  or  improved  by  any  such
  subsidiary of the New York state urban development corporation.
2023 New York Laws › PVH - Private Housing Finance › Article 11 - Housing Development Fund Companies › 576-E - Municipal Housing Assistance Fund.

§  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 established in the
  supervising agency.
2. There may be paid into such municipal housing assistance  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  provisions  of law, any moneys received in
  repayment of loans 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. The purpose of  such  fund  shall  be  to  make  loans  to  housing
  development  fund  companies  which  have  agreed to acquire residential
  properties by deed from the commissioner of finance  of  a  municipality
  and  to  operate  and  manage  such  properties  in  accordance  with  a
  regulatory agreement with the  municipality  until  the  properties  are
  transferred to a new owner approved by the municipality.
4.  The supervising agency may make loans from the fund to enable such
  housing development fund companies to  pay  development  costs  and  any
  other  expenses  incurred  by  the  housing development fund company and
  approved by the supervising agency.
5. Any housing development fund company which receives a loan pursuant
  to this section shall execute a note and regulatory agreement. The  note
  may  provide that it shall be reduced to zero over a period of continued
  compliance with either the regulatory  agreement  required  pursuant  to
  this  section  or  such  other  regulatory  agreement as the supervising
  agency shall require. The loan shall be reduced to zero only if prior to
  or simultaneously with delivery of such note, the supervising agency has
  made a written determination that such reduction would be  necessary  to
  ensure the continued affordability or economic viability of the project.
  Such  written determination shall document the basis upon which the loan
  was determined eligible for evaporation.
6. A regulatory agreement pursuant to this section may terminate  upon
  such terms and conditions as provided by the supervising agency.
7.  A  housing development fund company which receives a loan pursuant
  to this section shall provide in its certificate of  incorporation  that
  the  supervising  agency  shall  have  the power if in its discretion it
  determines that the company has defaulted  in  its  obligations  to  the
  municipality to appoint to the board of such corporation a number of new
  directors  which  number shall be sufficient to constitute a majority of
  the board, notwithstanding any other provisions of such  certificate  or
  of any other provision of law.
2023 New York Laws › PVH - Private Housing Finance › Article 11 - Housing Development Fund Companies › 577-A - Adjusting Fair Rental Equalization for the Elderly.

§  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
income, any municipality having a population of less than one million is
authorized  to  make  and  to  contract  to  make periodic payments to a
housing  development  fund  company  in  an  amount  not  exceeding  the
difference  between  the  rent  or  carrying  charges  for the dwellings
occupied by such  lower  income  persons  and  one-third  of  their  net
probable  aggregate  annual  income, where such rent or carrying charges
exceed such one-third of income; provided that the aggregate  amount  of
periodic  payments  to be made in accordance with contracts entered into
by the municipality during any fiscal  year  thereof  pursuant  to  this
section,  subdivision  nine  of section thirty-one, subdivision seven of
section eighty-five-a,  and  section  one  hundred  twenty-six  of  this
chapter shall not exceed the aggregate amount of all real property taxes
paid  or  payable  during  such  fiscal  year by all companies organized
pursuant to this article, article II, article IV, and article V of  this
chapter  and  the  aggregate estimated receipts of all such companies in
such fiscal year from rental surcharges collected  or  to  be  collected
pursuant to this chapter.
(b)  Such  payments  shall  be made only where over-income tenants are
required to pay surcharges to the municipality.
(c) Such payments shall be made only on account of a person or  family
in  occupancy  where the head of the household is sixty-two years of age
or older and is not a recipient of public  assistance  pursuant  to  the
social  services law, and where the net probable aggregate annual income
of the person or family in occupancy does not exceed six  thousand  five
hundred  dollars  a year.  Notwithstanding the provisions of subdivision
twenty-nine of section two  of  this  chapter,  net  probable  aggregate
annual  income  as used in this subdivision shall mean the annual income
of family members from all sources after deduction of federal, state and
city income taxes; provided  that  any  municipality  may  provide  that
increases  in  benefits  under the social security act which take effect
after such person or family has assumed occupancy  shall  not  be  taken
into account.
(d) A company having a contract with the municipality pursuant to this
subdivision  may  not  collect  from persons or families in occupancy on
whose account such payments are  made  any  rentals  in  excess  of  the
amounts specified in such contract.