New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter IV - State-assisted Housing Constructed By Private Enterprise › Subchapter E - Dissolution Of Limited-profit And Limited-dividend Housing Companies › Part 1750 - Voluntary Dissolution › Section 1750.3 - Notice of intent

Current through Register Vol. 46, No. 28, July 10, 2024
(a) A company or
					 housing company intending to dissolve pursuant to either section
					 35
					 (2) or
					 96
					 (1) of the Private Housing Finance Law, shall
					 no earlier than 365 days prior to the anticipated date of dissolution, serve a
					 notice of such intention ("Notice of Intent") (without the supporting
					 documents) to the parties and in the manner set forth in section
					 1750.4 of this Part for service of
					 the notice of public meeting, and shall submit a notice of intent in triplicate
					 to the division, to the attention of the Deputy Commissioner for Housing
					 Operations. The notice shall state that the notice of intent and all supporting
					 documents, except for rent rolls and rent registrations which contain
					 information protected by a right of privacy, are available for inspection by
					 the tenants on request at a location at or near the premises.
(b) Contents of notice of intent. The notice
					 of intent shall contain the following information and supporting documents:
(1) name, address(es) and project number of
					 the housing development, including section(s), block(s) and lot(s);
(2) name and business address of the
					 beneficial and the legal owner(s) of record;
(3) name and business address of the housing
					 company, if different from the legal owner of record;
(4) the following rental data information for
					 each apartment in the housing development, by apartment:
(i) name of tenant or shareholder;
(ii) base monthly rent or maintenance charge,
					 with indication of what utilities and services are included, if any;
(iii) complete rental history for existing
					 tenants including the expiration date of lease or occupancy agreement; if none
					 exists then the anniversary date of tenancy or occupancy; if current tenant
					 does not have a three-year lease or occupancy agreement, an affidavit shall be
					 submitted explaining in detail the reasons therefor;
(iv) name(s) of resident(s) if different from
					 principal tenant or shareholder;
(v) special charges or assessments including
					 surcharges, garage or parking charges and appliance charges, separately
					 listed;
(vi) rental subsidy
					 payments or credits, and sources thereof;
(vii) amount and depository for security
					 deposits;
(5)
					 mortgagees, name(s) and address(es);
(6) mortgage balance(s) and payment
					 schedule(s);
(7) certificate of
					 occupancy or other proof of date of initial occupancy of the
					 development;
(8) complete report of
					 title search and certified or conformed copy of the deed;
(9) municipal inspection report which
					 contains a list of any current outstanding municipal violations and citations;
					 and proof of satisfaction thereof;
(10) copy of enabling local ordinances, if
					 any;
(11) current certified annual
					 and quarterly financial statements, as required under sections
					 1728-2.2 and
					 1728-2.21 of this Title;
(12) names and business addresses of the
					 following, if applicable:
(i) managing general
					 partner and each general partner;
(ii) managing agent;
(iii) principal stockholders or shareholders;
					 and
(iv) president of the Board of
					 Directors;
(13) list of
					 all State, municipal and/or Federal financial assistance or subsidies received
					 by the housing development (such as Low Income Housing Credits, tax exempt bond
					 financing, section 236 Interest Reduction Subsidy, Project-Based Section 8,
					 Housing Choice Vouchers, Rent Supplement, J-51 or other tax abatements, Tenant
					 Health and Safety, Grants Flexible Subsidy), and the amount thereof;
(14) for housing projects located in
					 jurisdictions subject to rent stabilization, the housing company shall submit a
					 draft initial registration summary, initial building services registration, and
					 initial apartment registration for each tenant;
(15) physical condition survey. As required
					 by section 1750.10 of this Part, the housing
					 company shall submit a physical condition survey prepared by an independent
					 qualified consultant to determine the physical condition of the building and
					 the property and all equipment appurtenant thereto. The housing company shall
					 specify its plans to remedy any defects and to replace any and all items and
					 equipment that are obsolete or which have exceeded their useful lives or are
					 projected to exceed their useful lives within five years, and the amounts to be
					 expended therefor, which plan shall be approved by the division;
(16) a conformed copy of the certificate of
					 incorporation of the housing company; and
(17) certification to the division by an
					 officer or principal of the housing company that the housing company is in full
					 compliance with all applicable laws, regulations, and orders of the division or
					 other governmental agency. In the event that the housing company has not
					 complied with such law, regulation, or order then the officer or principal
					 shall submit a detailed affidavit explaining the reasons therefor.
(18) any document which may bear upon the
					 continued use of the project for affordable housing or the right of the housing
					 company to dissolve, including but not limited to:
(i) tenant participation
					 agreements;
(ii) City Council,
					 Board of Estimate or other governing entity Resolutions and
					 agreements;
(iii) urban renewal
					 plans;
(iv) zoning rules or
					 resolutions;
(v) regulatory
					 agreements under any city, State, or Federal program;
(vi) by-laws or articles of incorporation or
					 other corporate or partnership governing document(s);
(vii) participation in tax abatement
					 programs;
(viii) any other document
					 that places any restriction on the use of the property or the housing company's
					 right to dissolve.