Title PVH, Private Housing Finance

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

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

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

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

§ 126. Reduced rentals for the elderly. (a) For the purpose of\nenabling lower income elderly persons to continue in occupancy without\npaying rentals in excess of a fair proportion of their income, any\nmunicipality having a population of less than one million is authorized\nto…

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

§ 1261. Definitions. As used in this article:\n 1. "Corporation" shall mean the housing trust fund corporation\nestablished in section forty-five-a of this chapter.\n 2. "Eligible applicant" shall mean a unit of local government or\nnot-for-profit corporation in existence for a …

§ 1262. Residential emergency services to offer home repairs to the\nelderly contracts. 1. Within the limit of funds available in the\nresidential emergency services to offer home repairs to the elderly\nprogram, the corporation is hereby authorized to enter into contracts\nwith…

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

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

§ 1271. Definitions. As used in this article:\n 1. "Corporation" shall mean the housing trust fund corporation\nestablished in section forty-five-a of this chapter.\n 2. "Eligible applicant" shall mean a city, town, village or\nnot-for-profit corporation in existence for a perio…

§ 1272. Access to home for heroes contracts. 1. Within the limit of\nfunds available in the access to home for heroes program, the\ncorporation is hereby authorized to enter into contracts with eligible\napplicants to provide financial assistance for the actual costs of an\nacce…

§ 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,\nthrough the housing trust fund corporation, is empowered to finance the\npurchase, acquisition, holding or conversion of distressed hotels and\ncommercial office properties for use as affordable permanent housing\…

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

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

§ 1290. New York housing for the future homeownership program. 1.\nProgram establishment. Within amounts appropriated or otherwise\navailable therefor, the division of housing and community renewal, the\nhousing trust fund corporation, or the housing finance agency shall\ndevelo…

§ 1291. New York housing for the future rental housing program. 1.\nProgram establishment. Within amounts appropriated or otherwise\navailable therefor, the division of housing and community renewal, the\nhousing trust fund corporation, or the housing finance agency shall\ndevel…

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

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

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

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

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

§ 15. Participation by certain corporations and individuals. 1. (a)\nOne or more banking organizations, foundations, labor unions, employers'\nassociations, veterans' organizations, colleges, universities,\neducational institutions, child care institutions, hospitals, medical\nr…

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

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

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

§ 19. Consideration for issuance of stock, bonds or income debentures.\nNo company shall issue stock, bonds, or income debentures except for\nmoney or property actually received for the use and lawful purposes of\nthe company, provided, however, that a mutual company may issue s…

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

§ 20. Mortgages, mortgage bonds and notes. 1. Any company, subject to\nthe approval of the commissioner or of the supervising agency, as the\ncase may be, may borrow funds and secure the repayment thereof by bond\nor note and mortgage or by an issue of bonds under a trust indent…

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

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

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

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

§ 204. Appointment of supervising agency. The local legislative body\nof a city is hereby authorized by general ordinance or local law to\nappoint, establish or designate the chief financial officer of the city\nor some other official or bureau, commission or agency as the perso…

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

§ 206. Limitations of redevelopment corporations. No redevelopment\ncorporation shall:\n 1. Undertake any clearance, reconstruction, improvement, alteration or\nconstruction in connection with any development until the certificates\nof approval required by section two hundred th…

§ 207. Application of other corporation laws to redevelopment\ncorporations. The provisions of the business corporation law as\npresently in effect and as hereafter from time to time amended, shall\napply to redevelopment corporations heretofore or hereafter, except\nwhere such …

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

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

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

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

§ 211. Exemption from increase in local taxation. 1. A local\nlegislative body is hereby authorized, by adopting or enacting an\nordinance or local law, to exempt all or part of the real property held\nby redevelopment corporations during a maximum exemption period, which\nshall…

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

§ 213. Enforcement proceedings against redevelopment corporations.\nWhenever a redevelopment corporation shall not have obtained the\ncertificates of approval of its development plan required by section two\nhundred three of this article within twelve months of the date upon\nwh…

§ 214. Transfer of real property to redevelopment corporation.\nNotwithstanding any requirement of law to the contrary or the absence of\ndirect provision therefor in the instrument under which a fiduciary is\nacting, every executor, administrator, trustee, guardian or other\npe…

§ 215. Methods of acquisition of real property. 1. A redevelopment\ncorporation may:\n (a) Whether before or after the certificates of approval of its\ndevelopment plan required by section two hundred three of this article\nhave been issued, acquire real property or secure optio…

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

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

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