Title PVH, Private Housing Finance

§ 57. Insured mortgage reserve fund. 1. The agency shall create and establish a special fund, to be known as the insured mortgage reserve fund, and shall pay into such fund all monies appropriated and made available by the state for the purposes of such fund and any other monies…

§ 570. Short title. This article shall be known and may be cited and referred to as the "housing development fund companies law".

§ 571. Statement of legislative findings and purposes. The legislature hereby finds and declares that there continues to exist in the state a seriously inadequate supply of safe and sanitary dwelling accommodations within the financial reach of families and persons of low income…

§ 572. Definitions. As used in this article, the following terms shall mean and include: 1. "Commissioner." The commissioner of housing and community renewal of the state of New York. 2. "Comptroller." The comptroller of the state of New York in the context of the housing develo…

§ 573. Incorporation and organization of non-profit housing corporations. 1. A housing development fund company shall be incorporated pursuant to the provisions of this article and the provisions of either (a) the business corporations law, (b) the not-for-profit corporation law…

§ 574. Establishment of fund. 1. There is hereby created and established in the division of housing and community renewal a revolving fund to be known as the "housing development fund." 2. There shall be paid into such housing development fund (a) any moneys appropriated and mad…

§ 574-a. Municipal housing development fund. 1. A municipality may create and establish a revolving fund to be known as the "municipal housing development fund." Such a revolving fund shall be created and established in the supervising agency. 2. There shall be paid into such mu…

§ 575. Advances; conditions; repayment. 1. The commissioner of housing and community renewal is hereby authorized to use the moneys held in the housing development fund to make non-interest bearing advances to housing development fund companies, and housing corporations in accor…

§ 576. Regulatory agreements. 1. Every housing development fund company as a condition precedent to receiving an advance pursuant to this article, shall enter into an agreement with the commissioner or with the supervising agency, as the case may be, to be regulated as follows: …

§ 576-a. Acquisition and disposition of real property by municipality. 1. Real property may be acquired by a municipality for a housing development fund company by gift, grant, devise, purchase, condemnation pursuant to the provisions of article nine of this chapter, or otherwis…

§ 576-b. Special provisions with respect to state urban development corporation projects. Any state urban development corporation project shall comply with the requirements of local laws, ordinances, codes, charters or regulations applicable to the construction, reconstruction, …

* § 576-c. Loans to housing development companies by a municipality. 1. In addition to the powers granted to municipalities pursuant to this article, a municipality, acting by its supervising agency, may make loans for the purposes of acquisition, rehabilitation or construction …

§ 576-d. Master servicing agreement. 1. The commissioner is hereby authorized to use the monies held in the housing development fund to make advances to a local loan administrator that has entered into a written master servicing agreement prescribed by the commissioner pursuant …

§ 576-e. Municipal housing assistance fund. 1. A municipality may create and establish a fund to be known as the "municipal housing assistance fund". Such a fund shall be created and established in the supervising agency. 2. There may be paid into such municipal housing assistan…

§ 577. Tax exemptions. 1. (a) The local legislative body of any municipality in which a project of a housing development fund company is or is to be located may exempt the real property in such project from local and municipal taxes including school taxes, other than assessments…

§ 577-a. Adjusting fair rental equalization 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…

§ 577-b. Payment of arrears for certain taxes. 1. The term eligible property as used in this section shall mean a multiple dwelling located in a city with a population of one million or more and owned by a company established pursuant to this article which: (a) is controlled by …

§ 578. Advisory and educational services. The commissioner and the supervising agency are each hereby authorized to provide to housing development fund companies such advisory, consultative, training and educational services as will assist them to become eligible borrowers in ac…

§ 579. Rules and regulations. The commissioner and the supervising agency shall each have power to make rules and regulations to carry out their respective powers and duties pursuant to this article and to effectuate the purposes thereof.

§ 58. Special revenue housing coverage reserve funds. The agency may create and establish one or more special funds to be known as special revenue housing coverage reserve funds and may pay into such reserve funds any monies appropriated and made available by the state for the p…

§ 580. Examination by comptroller. 1. The comptroller, or his legally authorized representative, is hereby authorized and empowered from time to time to examine the books and accounts of the division relating to the housing development fund, and from time to time, not less than …

§ 581. Inconsistent provisions in other laws superseded. Insofar as the provisions of this article are inconsistent with the provisions of any other law, general, special or local, the provisions of this article shall be controlling.

§ 582. Separability clause. If any clause, sentence, paragraph, section or part of this article shall be adjudged by any court of competent jurisdiction to be invalid such judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its operati…

§ 59. Bond reserve insurance fund. The agency shall create and establish a special fund, to be known as the bond reserve insurance fund and shall pay into such fund all monies appropriated and made available by the state for the purposes of such fund and any other monies which m…

§ 59-a. Housing trust fund account. The housing trust fund corporation created by section forty-five-a of this chapter shall create and establish a special account to be known as the housing trust fund account and shall pay into such account any moneys which may be made availabl…

§ 59-b. Affordable housing development account. The affordable housing corporation created by section forty-five-b of this chapter shall create and establish a special account to be known as the affordable housing development account and shall pay into such account any moneys wh…

§ 59-c. Insured housing initiatives fund. 1. The agency shall create\nand establish a special fund to be known as the insured housing\ninitiatives fund and shall pay into such fund any moneys which may be\nmade available to the agency for the purposes of such fund from any\nsour…

§ 59-d. Turnkey/enhanced housing account. The housing trust fund corporation created by section forty-five-a of this article shall create and establish a special account to be known as the "turnkey/enhanced housing account" and shall pay into such account any moneys which may be…

§ 59-e. Infrastructure development fund. The agency shall create and establish a special fund to be known as the "infrastructure development fund" and shall pay into such fund any moneys which may be made available to the corporation for the purposes of such fund from any source…

§ 59-g. Permanent housing for homeless families fund. The agency shall create and establish a special fund to be known as the "permanent housing for homeless families fund" and shall pay into such fund any moneys which may be made available to the agency for the purposes of such…

§ 59-h. Manufactured home cooperative fund. The agency shall create and establish a special fund to be known as the manufactured home cooperative fund and shall pay into such fund any moneys which may be made available to such agency for the purposes of such fund from any source…

§ 59-i. Homeless housing and assistance account. The homeless housing and assistance corporation created by section forty-five-c of this chapter shall create and establish a special account to be known as the homeless housing and assistance account and shall pay into such accoun…

§ 60. Housing project repair fund. 1. As used in this section, (a) the\nterm "current economic rent" shall mean the rent or carrying charges\ndetermined by the commissioner to be sufficient, together with monies\navailable to the company from the state, the federal government, o…

§ 600. Construction. This chapter shall be construed liberally to effectuate the purposes hereof, and the enumeration of specific powers in this chapter shall not operate to restrict the meaning of any general grant of power contained in this chapter or to exclude other powers c…

§ 601. Separability clause. If any clause, sentence, paragraph, section or part of this chapter shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its operat…

§ 602. Prohibition against discrimination. For all the purposes of this chapter, no person shall, because of race, creed, color or national origin, be subjected to any discrimination.

§ 603. Pending actions or proceedings. This chapter or anything therein contained shall not affect or abate any actions, proceedings, civil or criminal, pending at the time when this chapter shall take effect, brought by, for or against the state, the state division of housing, …

§ 604. Saving clause. 1. The repeal of the laws as specified in section six hundred five and any other provisions of this chapter, shall not affect or impair any contract or remedy, or any act done or any right accruing, accrued or acquired, taxes, tax obligations, or exemptions…

§ 605. Laws repealed. Of the laws enumerated in the schedule hereto annexed, that portion specified in the last column is hereby repealed, except as provided in sections ninety-six and six hundred four. SCHEDULE OF LAWS REPEALED Public Housing Article 1 Subdivision 14-a of secti…

§ 606. Extension of the time for payment and suspension of payment of real estate tax liens. 1. As used in this section the term abandoned multiple dwelling shall mean a class A or class B multiple dwelling containing in the aggregate not less than three dwelling units, at least…

§ 607. Rent regulation of multiple dwellings rehabilitated with a loan granted pursuant to section three hundred twelve of the housing act of nineteen hundred sixty-four. 1. In cities with a population of one million or more, upon completion of rehabilitation of a class A multip…

§ 608. Rent regulation of rehabilitated multiple dwellings aided by certain federal housing assistance programs. 1. In cities with a population of one million or more, upon completion of rehabilitation of a class A multiple dwelling which is aided by a mortgage loan entered into…

* § 608-a. Rent regulation of rehabilitated multiple dwellings acquired and reconveyed by the federal government. 1. For the purposes of this section: (a)"Agency" shall mean a department of housing preservation and development in a city having a population of one million or more…

§ 609. This act shall take effect March first, nineteen hundred sixty-two.

§ 61. Inconsistent provisions in other laws superseded. Insofar as the provisions of this article are inconsistent with the provisions of any other law, general, special or local, the provisions of this article shall be controlling.

§ 61-a. Actions. Except in an action for wrongful death, in any case founded upon tort a notice of claim shall be required as a condition precedent to the commencement of an action or special proceeding against the agency, any of its subsidiary corporations, or any officer, appo…

§ 610. Rental assistance and legal regulated rents. 1. (a) Notwithstanding the emergency tenant protection act of nineteen seventy-four or the rent stabilization law of nineteen hundred sixty-nine, any regulation promulgated pursuant to such act or law, or any other provision of…

§ 611. Rent stabilization and regulatory agreements. 1. Notwithstanding any other provision of law, including the provisions of, or any regulation promulgated pursuant to, the emergency tenant protection act of nineteen seventy-four or the rent stabilization law of nineteen hund…

§ 612. Compliance monitoring. 1. Any supervising agency and any corporate governmental agency that constitutes a public benefit corporation created pursuant to this chapter shall have the power to: (a) subpoena, require the attendance of and examine and take testimony under oath…

§ 613. Charges. A municipality, or a supervising agency thereunder, may require the payment of charges by an owner in consideration for financing, regulation, supervision and audit of loans and grants made pursuant to the provisions of this chapter. Such charges shall be paid in…