Title PVH, Private Housing Finance

§ 32. Supervision and regulation. The commissioner or the supervising\nagency as the case may be, may:\n 1. Examine a company and keep informed as to its general condition,\nits capitalization and the manner in which its property is constructed,\nacquired, rehabilitated, leased,…

§ 32-a. Additional supervision and regulation. The commissioner or the\nsupervising agency, as the case may be, shall:\n 1. Promulgate regulations providing for recognition of duly\nconstituted tenants' associations and cooperators' advisory councils by\nthe commissioner or supe…

§ 32-b. Annual reports. The commissioner shall, on or before the first\nday of July in each year, submit a report to the legislature, the state\ncomptroller, and the attorney general on the implementation of article\ntwo of this chapter by the commissioner and the supervising ag…

§ 33. Tax exemptions. 1. (a) Upon the consent of the local legislative\nbody of any municipality in which a project is or is to be located, the\nreal property in a project shall be exempt from local and municipal\ntaxes, other than assessments for local improvements, to the exte…

§ 34. Foreclosure and judgments. 1. Any action or proceeding to\nforeclose a mortgage upon a company project, shall be in accordance with\nthe applicable provisions of section ninety-four of this chapter.\n 2. In the event of an unsatisfied judgment against a company any\naction…

§ 35. Voluntary dissolution. 1. A company aided by a loan made prior\nto May first, nineteen hundred fifty-nine, may voluntarily be dissolved,\nwith the consent of the commissioner or of the supervising agency, as\nthe case may be, not less than thirty-five years after the occup…

§ 35-a. Requirements regarding dissolution. Mutual housing companies\nconsidering dissolution and/or reconstitution pursuant to section\nthirty-five of this article shall be subject to the following\nrequirements:\n 1. Any preliminary vote to authorize a feasibility study, or to…

§ 350. Short title. This article shall be known and may be cited and\nreferred to as the "community senior citizens centers and services\ncompanies law."\n

§ 351. Policy and purposes of article. It is hereby declared that the\nprovision of new and improved community senior citizens facilities is\nnecessary to care for the increasing number of persons who are in need\nof programs and services for the aging. Such facilities should be…

§ 352. Definitions. As used in this article the following words and\nphrases shall have the following meanings unless a different meaning is\nplainly required by the context:\n 1. "Company", or "community senior citizens centers and services\ncompany". A company, duly incorporat…

§ 353. Companies; how created. Notwithstanding the provisions of any\nother law or requirement to the contrary, companies shall be\nincorporated and organized pursuant to the not-for-profit corporation\nlaw and this article.\n In addition to those matters required to be set fort…

§ 354. Consent of commissioner. Whenever any such certificate shall be\npresented to the secretary of state, he shall not file such certificate\nunless there shall accompany the same a certificate of the commissioner\nstating that he consents to the filing of such certificate; n…

§ 355. Powers and limitations of a company. 1. Except as is\ninconsistent with the provisions of this article, a company shall have,\nin carrying out the purpose of this article, the powers conferred on\ncorporations by the not-for-profit corporation law and shall be subject\nto…

§ 356. Members; officers and directors. No member or director of a\ncompany shall receive any salary or other compensation for services as\nsuch member or director, other than reimbursement of actual and\nnecessary expenses incurred in the performance of his duties. No member,\n…

§ 357. Financing. 1. Any company formed under this article may,\nsubject to the approval of the commissioner, borrow funds from the New\nYork state housing finance agency and secure the repayment thereof by\nbond or note and mortgage which shall contain such terms and conditions…

§ 358. Conditions and security for loans. No loan shall be made by the\nNew York state housing finance agency to a company until the\ncommissioner has approved the project and finds that:\n (1) The company has complied with all of the provisions of this\narticle and all applicab…

§ 359. Rates and fees. A company shall, with the approval of the\ncommissioner, fix maximum rates and fees to be charged persons served by\neach project for the facilities and services provided by the company to\nsuch persons, the average of such rates and fees for any one proje…

§ 36. Sale of project prior to termination of tax exemption. 1.\nExcept as otherwise provided in this article and prior to the expiration\nof thirty-five years from the date of occupancy, a project, other than a\nproject aided by a loan made after May first, nineteen hundred\nfi…

§ 36-a. Additional powers of municipalities. In addition to any other\npowers granted to a municipality by law, and notwithstanding the\nprovisions of any other law, a municipality acting by its local\nlegislative body shall have power:\n 1. To undertake, plan, develop, construc…

§ 360. Transfer of real property. Notwithstanding any requirement of\nlaw to the contrary or any provision of any general, special or local\nlaw, charter or ordinance, every executor, administrator, trustee,\nguardian or other person holding trust funds or acting in a fiduciary\…

§ 361. Supervision and regulation. 1. The department may from time to\ntime make, alter, amend and repeal rules and regulations for the\nsupervision, examination, regulation and audit of companies and for\ncarrying into effect the provisions and purposes of this article, and\nea…

§ 362. Voluntary dissolution. At any time after the expiration of ten\nyears after the occupancy date, a company may be voluntarily dissolved,\nwith the consent of the commissioner, upon repayment in full of all\nobligations under the mortgage and payment of all obligations of t…

§ 363. Foreclosures and judgments. 1. In any foreclosure action the\ncommissioner shall be made a party defendant. He shall take all steps\nnecessary to protect the interests of the public therein and no costs\nshall be awarded against him or the department. Foreclosures shall n…

§ 364. Fees and charges. The department may by regulation establish\nand charge to any company such fees and charges for inspection,\nregulation, supervision and audit as to the department may appear just\nand reasonable in order to recover the costs of performing such\nfunction…

§ 365. Separability. If any clause, sentence, paragraph or part of\nthis article shall be adjudged by any court of competent jurisdiction to\nbe invalid, such judgment shall not affect, impair or invalidate the\nremainder thereof, but shall be confined in its operation to the cl…

§ 37. Separability clause. 1. Except as specifically provided in this\narticle, nothing contained therein shall be deemed to limit or restrict\nany power or authority granted to banking institutions, foundations,\nlabor unions, veterans' organizations, or insurance companies or …

§ 40. Short title. This article may be cited as the "New York state\nhousing finance agency act."\n

§ 400. Policy and purposes of article. It is hereby declared that\nthere exists in municipalities in this state a seriously inadequate\nsupply of safe and sanitary dwelling accommodations for persons and\nfamilies of low income; that such shortage constitutes an emergency and\na…

§ 401. Definitions. As used in this article the following terms shall\nmean:\n 1. a. The term "existing multiple dwelling" shall mean any dwelling\nclassified as a multiple dwelling pursuant to the multiple dwelling law\nincluding class A and class B multiple dwellings, and in e…

§ 402. Loans to owners. 1. Notwithstanding the provisions of any\ngeneral, special or local law, a municipality, by such officer or agency\nas determined by its local legislative body, is hereby authorized:\n (a) to make or contract to make loans to the owners of existing\nmulti…

§ 403. Occupancy. 1. The dwelling units in any existing multiple\ndwelling aided by a loan pursuant to this article shall be available\nsolely for persons or families of low income during the period in which\nany part of such loan remains unpaid, any exemption and abatement from…

§ 404. Conditions precedent to making such loans. 1. No such loan\nshall be made by a municipality to an owner of an existing multiple\ndwelling unless the owner of such multiple dwelling shall covenant in\nwriting that so long as any part of such loan remains unpaid, any\nexemp…

§ 405. Rent control; tax exemption. 1. Notwithstanding the provisions\nof, or any regulations promulgated pursuant to, the emergency housing\nrent control law, the local emergency housing rent control act or local\nlaw enacted pursuant thereto: (1) housing accommodations in any …

§ 406. Rules and regulations. An agency may promulgate supplementary\nrules and regulations to carry out the provisions of this article, not\ninconsistent with the provisions of this article.\n

§ 407. Participation by certain corporations and individuals. 1. One\nor more banking institutions, foundations, labor unions, employers'\nassociations, veterans' organizations, insurance companies, trustees,\nfiduciaries or any combination of the foregoing, shall have the power…

* § 408. Minimization of displacement. The agency shall use its best\nefforts to ensure that activities carried out pursuant to this article\nare structured so as to minimize the likelihood of any involuntary\nphysical or economic displacement of tenants who reside in multiple\n…

§ 41. Statement of legislative findings and purposes. 1. There\ncontinues to exist in the state a seriously inadequate supply of safe\nand sanitary dwelling accommodations, non-housekeeping accommodations,\naged care accommodations or accommodations for handicapped persons\nwith…

§ 42. Definitions. As used or referred to in this article, unless a\ndifferent meaning clearly appears from the context:\n 1. "Agency" shall mean the corporate governmental agency created by\nsection forty-three of this article.\n 1-a. "Amortized value" shall mean, when used wit…

§ 43. New York state housing finance agency. 1. There is hereby\ncreated the "New York state housing finance agency". The agency shall be\na corporate governmental agency constituting a public benefit\ncorporation. Its membership shall consist of the commissioner of\nhousing and…

§ 44. Powers of the agency. Except as otherwise limited by this\narticle, the agency shall have power:\n 1. To sue and be sued;\n 2. To have a seal and alter the same at pleasure;\n 3. To make and execute contracts and all other instruments necessary\nor convenient for the exerc…

§ 44-a. Low rent dwelling accommodations. 1. Subject to the approval\nof the commissioner and to the provisions of any contract with\nnoteholders and bondholders, the agency shall have the power to lease\ndwellings in a project, not to exceed twenty per centum of the dwellings\n…

§ 44-b. Mortgage modifications, evidence of pre-existing indebtedness.\n1. Notwithstanding the provision of any law, general or special, the\nagency shall have the power to:\n (i) consent to and contract for the modification of any of the terms\nof a mortgage, and note or bond s…

§ 44-c. Federally-aided mortgage loans. 1. In addition to the powers\nof the agency to make mortgage loans to companies organized pursuant to\narticle two of this chapter and notwithstanding any limitations\ncontained in such article or in this article in connection with mortgag…

§ 45. Transfer of officers and employees. Officers and employees of\nstate departments and agencies may be transferred to the agency and\nofficers and employees of the agency may be transferred to state\ndepartments and agencies without examination and without loss of any\ncivil…

§ 45-a. Housing trust fund corporation. 1. There is hereby established\na public benefit corporation known as the "housing trust fund\ncorporation" as a subsidiary corporation of the agency.\n 2. The agency may transfer to such subsidiary corporation any real,\npersonal or mixed…

§ 45-b. Affordable housing corporation. 1. There is hereby established\na public benefit corporation known as the "affordable housing\ncorporation" as a subsidiary corporation of the agency.\n 2. The agency may transfer to such subsidiary corporation any real,\npersonal or mixed…

§ 45-c. Homeless housing and assistance corporation. 1. There is\nhereby established a public benefit corporation known as the "homeless\nhousing and assistance corporation" as a subsidiary corporation of the\nagency.\n 2. The agency may transfer to such subsidiary corporation a…

§ 450. Policy and purposes of article. It is hereby declared that\nthere exists in municipalities in this state a seriously inadequate\nsupply of safe and sanitary dwelling accommodations; that such shortage\nconstitutes an emergency and a grave menace to the health, safety,\nmo…

§ 451. Definitions. As used in this article the following terms shall\nmean:\n 1. "Existing multiple dwelling." Any dwelling classified as a multiple\ndwelling pursuant to the multiple dwelling law and in existence on the\ndate upon which an application for a loan pursuant to th…

§ 452. Loans to owners. 1. Notwithstanding the provisions of any\ngeneral, special or local law, a municipality is hereby authorized:\n (a) to make or contract to make loans to the owners of existing\nmultiple dwellings within its territorial limits, subject to the\nlimitations …