Title PVH, Private Housing Finance

§ 1231. Definitions. 1. "Corporation" shall mean the housing trust fund corporation established in section forty-five-a of this chapter. 2. "Rural and urban community investment fund program" shall mean activities by an eligible applicant for a specific work or series of works f…

§ 1232. Rural and urban community investment fund. 1. Within amounts appropriated or otherwise available therefor, the housing trust fund corporation shall develop and administer a rural and urban community investment fund program which shall provide assistance in the form of pa…

§ 124. Participation by certain corporations. One or more insurance companies shall have the power to organize, or cause to be organized, a redevelopment company formed pursuant to the provisions of this article, and to purchase for cash or to receive and hold in exchange for pr…

§ 125. Tax exemptions. 1. (a) The local legislative body of any municipality in which a project of such company is or is to be located may by contract agree with any redevelopment company to exempt from local and municipal taxes, other than assessments for local improvements, al…

§ 126. Reduced rentals 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 mak…

§ 1260. Statement of legislative findings. The legislature hereby finds and declares that there exists in New York state a need for financial resources to assist senior citizen homeowners with the cost of addressing emergencies and code violations that pose a threat to their hea…

§ 1261. Definitions. As used in this article: 1. "Corporation" shall mean the housing trust fund corporation established in section forty-five-a of this chapter. 2. "Eligible applicant" shall mean a unit of local government or not-for-profit corporation in existence for a period…

§ 1262. Residential emergency services to offer home repairs to the elderly contracts. 1. Within the limit of funds available in the residential emergency services to offer home repairs to the elderly program, the corporation is hereby authorized to enter into contracts with eli…

§ 127. Acquisition by mutual redevelopment companies. Anything in this article to the contrary notwithstanding: (a) With the approval of the supervising agency, any person owning a project may convey such project to a mutual redevelopment company and a mutual redevelopment compa…

§ 1270. Statement of legislative findings and purpose. The legislature hereby finds and declares that many disabled veterans in New York state face a significant impediment to accessible and affordable housing as a result of service related injuries, age or health related disabi…

§ 1271. Definitions. As used in this article: 1. "Corporation" shall mean the housing trust fund corporation established in section forty-five-a of this chapter. 2. "Eligible applicant" shall mean a city, town, village or not-for-profit corporation in existence for a period of o…

§ 1272. Access to home for heroes contracts. 1. Within the limit of funds available in the access to home for heroes program, the corporation is hereby authorized to enter into contracts with eligible applicants to provide financial assistance for the actual costs of an access t…

§ 128. Resale price of shares. Notwithstanding any other provision of\nthis article and subject to any regulation not inconsistent with this\nsection which may be promulgated by the supervising agency:\n (a) The resale price of shares in a mutual company shall be fixed by\nthe m…

§ 1280. Legislative findings and purpose. The state of New York, through the housing trust fund corporation, is empowered to finance the purchase, acquisition, holding or conversion of distressed hotels and commercial office properties for use as affordable permanent housing tha…

§ 1281. Definitions. For the purposes of this article, the following terms shall have the following meanings: 1. "Corporation" shall mean the housing trust fund corporation established pursuant to section forty-five-a of this chapter. 2. "Appropriate nonprofit organization" shal…

§ 1282. Housing our neighbors with dignity program. 1. Establishment. Subject to amounts available by appropriation therefor, the corporation shall develop a housing our neighbors with dignity program (hereinafter referred to as "the program"), which shall provide a mechanism fo…

§ 1290. New York housing for the future homeownership program. 1. Program establishment. Within amounts appropriated or otherwise available therefor, the division of housing and community renewal, the housing trust fund corporation, or the housing finance agency shall develop an…

§ 1291. New York housing for the future rental housing program. 1. Program establishment. Within amounts appropriated or otherwise available therefor, the division of housing and community renewal, the housing trust fund corporation, or the housing finance agency shall develop a…

§ 13. Limited-profit housing companies; how created. A company may be created by three or more persons, approved by the commissioner, by making, subscribing, acknowledging and filing with the secretary of state a certificate which shall be entitled and endorsed "Certificate of I…

§ 13-a. The applicability of not-for-profit corporation law. 1. The not-for-profit corporation law applies to every company heretofore or hereafter formed under this article and the not-for-profit corporation law, provided that: (a) If any provision of the not-for-profit corpora…

§ 13-b. Verification of papers filed with supervising agency. Any document required to be filed with the supervising agency regarding rental units, either state or municipal, shall be duly verified under oath of the corporation or individual filing the same. The commissioner or …

§ 13-c. Voting, election and referendum procedures. 1. Any shareholder vote involving the election of board members, by-law amendments, or on dissolution or reconstitution or conversion of a mutual housing company including any votes for a special assessment pursuant to subdivis…

§ 14. Consent of commissioner to incorporation. Whenever any such certificate shall be presented to the secretary of state, he shall not file such certificate unless there shall accompany the same a certificate of the commissioner that he consents to the filing of such certifica…

§ 15. Participation by certain corporations and individuals. 1. (a) One or more banking organizations, foundations, labor unions, employers' associations, veterans' organizations, colleges, universities, educational institutions, child care institutions, hospitals, medical resea…

§ 16. Limited-profit housing companies; partnership relations. Notwithstanding any provisions in this article to the contrary, but subject to such regulations as may be prescribed by the commissioner or the supervising agency, as the case may be: 1. (a) Any company may be a part…

§ 17. Powers. 1. Subject to the limitations of this article, a company heretofore or hereafter organized under this chapter shall have the powers and be subject to the limitations contained in the business corporation law or the not-for-profit corporation law, as the case may be…

§ 18. Designation of and service of process on secretary of state and registered agent. The provisions of sections three hundred four, three hundred five and three hundred six of the business corporation law shall apply to companies heretofore or hereafter organized pursuant to …

§ 19. Consideration for issuance of stock, bonds or income debentures. No company shall issue stock, bonds, or income debentures except for money or property actually received for the use and lawful purposes of the company, provided, however, that a mutual company may issue stoc…

§ 2. Definitions. The following terms, whenever used or referred to in this chapter, shall have the following meaning, unless a different meaning clearly appears from the context, or unless specifically defined in any of the articles of this chapter: 1. "Area". A section of a mu…

§ 20. Mortgages, mortgage bonds and notes. 1. Any company, subject to the approval of the commissioner or of the supervising agency, as the case may be, may borrow funds and secure the repayment thereof by bond or note and mortgage or by an issue of bonds under a trust indenture…

§ 200. Short title. This article shall be known and may be cited and referred to as the "Urban Redevelopment Corporations Law."

§ 201. Legislative finding, policy of state, and purpose of article. It is hereby declared that in the cities of the state substandard and insanitary areas exist which have resulted from inadequate planning, excessive land coverage, lack of proper light, air and open space, defe…

§ 202. Definitions. The following terms, whenever used or referred to in this article, shall, unless a different intent clearly appears from the context, be construed as follows: The term "development area" shall mean that portion of an area to which a development plan is applic…

§ 203. Development plans and approval thereof. 1. A development plan shall contain such information as the planning commission and the supervising agency shall, by rule or regulation require, including: (a) A metes and bounds description of the development area; (b) A statement …

§ 204. Appointment of supervising agency. The local legislative body of a city is hereby authorized by general ordinance or local law to appoint, establish or designate the chief financial officer of the city or some other official or bureau, commission or agency as the person o…

§ 205. Redevelopment corporations. 1. Three or more persons may become a redevelopment corporation on making, subscribing, acknowledging and filing in the department of state a certificate pursuant to article four of the business corporation law, which shall be entitled and endo…

§ 206. Limitations of redevelopment corporations. No redevelopment corporation shall: 1. Undertake any clearance, reconstruction, improvement, alteration or construction in connection with any development until the certificates of approval required by section two hundred three o…

§ 207. Application of other corporation laws to redevelopment corporations. The provisions of the business corporation law as presently in effect and as hereafter from time to time amended, shall apply to redevelopment corporations heretofore or hereafter, except where such prov…

§ 208. Consideration for issuance of stock, bonds or income debentures. No redevelopment corporation shall issue stock, bonds or income debentures, except for money or property actually received for the use and lawful purposes of the corporation or services actually performed fo…

§ 209. Determination of development cost. 1. Upon the completion of a development a redevelopment corporation shall, or upon the completion of a principal part of a development a redevelopment corporation may, file with the supervising agency an audited statement of the developm…

§ 21. Capital structure. The capital structure of a company undertaking a project and the proportionate amount of the project cost to be represented by mortgages, bonds, notes, income debentures and shares shall be subject to the approval of the commissioner except as otherwise …

§ 210. Regulation of redevelopment corporations by supervising agency. A redevelopment corporation shall: 1. Furnish to the supervising agency from time to time, as required by it, but with respect to regular reports not more often than once every six months, such financial info…

§ 211. Exemption from increase in local taxation. 1. A local legislative body is hereby authorized, by adopting or enacting an ordinance or local law, to exempt all or part of the real property held by redevelopment corporations during a maximum exemption period, which shall not…

§ 212. Limited return on income debentures and stock. 1. No redevelopment corporation shall pay any interest on its income debentures or dividends on its stock during any dividend year, unless there shall exist at the time of any such payment no default under any amortization re…

§ 213. Enforcement proceedings against redevelopment corporations. Whenever a redevelopment corporation shall not have obtained the certificates of approval of its development plan required by section two hundred three of this article within twelve months of the date upon which …

§ 214. Transfer of real property to redevelopment corporation. Notwithstanding any requirement of law to the contrary or the absence of direct provision therefor in the instrument under which a fiduciary is acting, every executor, administrator, trustee, guardian or other person…

§ 215. Methods of acquisition of real property. 1. A redevelopment corporation may: (a) Whether before or after the certificates of approval of its development plan required by section two hundred three of this article have been issued, acquire real property or secure options in…

§ 216. Proceedings to acquire. 1. When it is desired that any real property in a development area be acquired by condemnation, there shall be presented to the supervising agency by the redevelopment corporation a verified petition requesting the issuance of a certificate of appr…

§ 217. Temporary use or occupation of real property taken by acquisition. When title to real property has vested in a redevelopment corporation or city by gift, grant, devise, purchase or in acquisition proceedings or otherwise, the redevelopment corporation or city, as the case…

§ 218. Mortgages. 1. Any redevelopment corporation may borrow funds and secure the repayment thereof by mortgage. Every such mortgage shall contain reasonable amortization provisions and shall be a lien upon no other real property except that forming the whole or a part of a sin…