2023 New York Laws › PVH - Private Housing Finance › Article 3 - New York State Housing Finance Agency › 45-A - Housing Trust Fund Corporation.

§ 45-a. Housing trust fund corporation. 1. There is hereby established
a   public   benefit  corporation  known  as  the  "housing  trust  fund
corporation" as a subsidiary corporation of the agency.
2. The agency may transfer to such subsidiary  corporation  any  real,
personal or mixed property in order to carry out the purposes of article
eighteen of this chapter. Such subsidiary corporation shall have all the
privileges, immunities, tax exemption and other exemptions of the agency
to the extent the same are not inconsistent with this section.
3.  The membership of such subsidiary corporation shall consist of the
members identified pursuant to subdivision one of section forty-three of
this article, and the powers of such  subsidiary  corporation  shall  be
vested  in and exercised by no less than six of its members thereof then
in office. The subsidiary corporation may delegate to one or more of its
members, or its officers, agents and employees, such powers  and  duties
as it may deem proper.
3-a.  The chairman of the agency may appoint an officer or employee of
the agency to represent him at all  meetings  of  the  corporation  from
which he may be absent. Any such representative so designated shall have
the  power  to attend and to vote at any meeting of the corporation from
which the chairman of the agency is  absent  with  the  same  force  and
effect  as  if  the chairman of the agency were present and voting. Such
designation shall be by written notice filed with the chairperson of the
corporation. The designation of such person shall continue until revoked
at any time by written notice  to  such  chairperson.  Such  designation
shall  not be deemed to limit the power of the chairman of the agency to
attend and vote at any meeting of the corporation.
4.  No  officer  or  member  of  the  corporation  shall  receive  any
additional   compensation,   either   direct  or  indirect,  other  than
reimbursement  for  actual  and  necessary  expenses  incurred  in   the
performance  of  his  duties,  by  reason  of  his  serving as a member,
director, or trustee of such subsidiary corporation.
5.  Notwithstanding  any  inconsistent  provisions  of  law,  general,
special  or  local, no officer or employee of the state, or of any civil
division thereof, or any public benefit corporation, shall be deemed  to
have  forfeited  or  shall forfeit his office or employment by reason of
his acceptance of membership on the corporation created by this section.
6. The fiscal year of such subsidiary corporation shall begin with the
first day of April  of  each  year  and  end  with  the  next  following
thirty-first day of March.
7. The corporation shall have the power to:
(a) Sue and be sued;
(b) Have a seal and alter the same at pleasure;
(c)   Make  and  alter  by-laws  for  its  organization  and  internal
management and make rules and  regulations  governing  the  use  of  its
property and facilities;
(d)  Make and execute contracts and all other instruments necessary or
convenient for the exercise of  its  powers  and  functions  under  this
chapter;
(e)  Acquire,  hold  and  dispose of real or personal property for its
corporate purposes;
(f) Engage the services of private consultants on a contract basis for
rendering professional and technical assistance advice;
(g)  Procure  insurance  against  any  loss  in  connection  with  its
activities,  properties  and  other assets, in such amount and from such
insurers as it deems desirable; and
(h) Invest any funds of the corporation, or any other monies under its
custody and control not required for immediate use or  disbursement,  at
the  discretion  of  the corporation, 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, or in
any  other  obligations  in  which  the  comptroller  of  the  state  is
authorized  to  invest  pursuant  to  section  ninety-eight of the state
finance law.
8. The corporation  will  encourage  the  creation  of  local  housing
partnerships;  such  partnerships  may  include  but  not  be limited to
members of the business  community,  the  financial  community,  housing
developers, builders, not-for-profit organizations and community leaders
who  are  committed to the development of low income housing within such
community.
9. The corporation will facilitate the coordination of  local  housing
partnerships  and  existing  state,  federal  and  local  programs which
promote the development of low income housing.
10. The corporation is a public  housing  agency  as  defined  in  the
United  States  housing  act  of  1937,  as amended, and may receive and
administer funds including but not limited to subsidies, loans and  fees
made available through federal programs under such act.
(a)  The  corporation  shall  be the sole entity with authority in the
state to undertake any statewide or regional  multi-state  contract  for
performance  based  annual  contributions contract administration issued
under authority granted in 42 U.S.C. section 1437f  or  any  replacement
program  or contract, whether called an annual contributions contract or
other name, that  requires  substantially  the  same  administration  or
support  services  offered  nationally,  regionally  or  statewide.  The
corporation may in its discretion subcontract such activities as it  may
require.  The  division  of  housing  and community renewal shall be the
entity responsible for such statewide or regional  multi-state  contract
administration   with   all  powers  and  responsibilities  which  would
otherwise be available to the corporation in the event  the  corporation
is unable or unwilling to act as such entity.
(b)  The  powers vested in the corporation and the division of housing
and community renewal pursuant to paragraph (a) of this subdivision  are
coincident  to the powers of any municipal or other local public housing
agency or public housing authority operating within  the  state  on  the
effective  date  of this paragraph. The authority of the corporation and
the division of housing and community renewal to operate on a  statewide
basis  shall  not  limit  the authority of such municipal public housing
agency or local public housing authority to operate, service, administer
or enter into any project based section 8 contract  or  contracts  where
the  project  is  located within a political subdivision of the state in
which such  public  housing  agency  or  public  housing  authority  was
operating on such effective date.
11.  The corporation may do any and all things necessary or convenient
to carry out and exercise the powers given and granted by  this  section
and  article  eighteen  of  this  chapter  including, but not limited to
contracting with  the  commissioner  of  the  division  of  housing  and
community  renewal  to  administer  any of the provisions of the special
needs housing act of 1988 and articles eighteen and eighteen-A  of  this
chapter.
12.  The division of housing and community renewal and all other state
officers,   departments,   boards,   divisions,   commissions,    public
authorities  and public benefit corporations may render such services to
the corporation within their respective functions as may be requested by
the corporation.
13. Notwithstanding the provisions of  article  one-A  of  the  public
authorities  law,  contracts entered into by the corporation pursuant to

articles eighteen and eighteen-A of this chapter shall not be subject to
the provisions of article one-A of the public authorities law.