Title PVH, Private Housing Finance

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

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

§ 571. Statement of legislative findings and purposes. The legislature\nhereby finds and declares that there continues to exist in the state a\nseriously inadequate supply of safe and sanitary dwelling accommodations\nwithin the financial reach of families and persons of low inc…

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

§ 573. Incorporation and organization of non-profit housing\ncorporations. 1. A housing development fund company shall be\nincorporated pursuant to the provisions of this article and the\nprovisions of either (a) the business corporations law, (b) the\nnot-for-profit corporation…

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

§ 574-a. Municipal housing development fund. 1. A municipality may\ncreate and establish a revolving fund to be known as the "municipal\nhousing development fund." Such a revolving fund shall be created and\nestablished in the supervising agency.\n 2. There shall be paid into su…

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

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

§ 576-a. Acquisition and disposition of real property by municipality.\n1. Real property may be acquired by a municipality for a housing\ndevelopment fund company by gift, grant, devise, purchase, condemnation\npursuant to the provisions of article nine of this chapter, or\nothe…

§ 576-b. Special provisions with respect to state urban development\ncorporation projects. Any state urban development corporation project\nshall comply with the requirements of local laws, ordinances, codes,\ncharters or regulations applicable to the construction, reconstructio…

* § 576-c. Loans to housing development companies by a municipality.\n1. In addition to the powers granted to municipalities pursuant to this\narticle, a municipality, acting by its supervising agency, may make\nloans for the purposes of acquisition, rehabilitation or constructi…

§ 576-d. Master servicing agreement. 1. The commissioner is hereby\nauthorized to use the monies held in the housing development fund to\nmake advances to a local loan administrator that has entered into a\nwritten master servicing agreement prescribed by the commissioner\npursu…

§ 576-e. Municipal housing assistance fund. 1. A municipality may\ncreate and establish a fund to be known as the "municipal housing\nassistance fund". Such a fund shall be created and established in the\nsupervising agency.\n 2. There may be paid into such municipal housing ass…

§ 577. Tax exemptions. 1. (a) The local legislative body of any\nmunicipality in which a project of a housing development fund company is\nor is to be located may exempt the real property in such project from\nlocal and municipal taxes including school taxes, other than assessme…

§ 577-a. Adjusting fair rental equalization for the elderly. (a) For\nthe purpose of enabling lower income elderly persons to continue in\noccupancy without paying rentals in excess of a fair proportion of their\nincome, any municipality having a population of less than one mill…

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

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

§ 579. Rules and regulations. The commissioner and the supervising\nagency shall each have power to make rules and regulations to carry out\ntheir respective powers and duties pursuant to this article and to\neffectuate the purposes thereof.\n

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

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

§ 581. Inconsistent provisions in other laws superseded. Insofar as\nthe provisions of this article are inconsistent with the provisions of\nany other law, general, special or local, the provisions of this article\nshall be controlling.\n

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

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

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

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

§ 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\ncorporation created by section forty-five-a of this article shall create\nand establish a special account to be known as the "turnkey/enhanced\nhousing account" and shall pay into such account any moneys which may…

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

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

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

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

§ 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\neffectuate the purposes hereof, and the enumeration of specific powers\nin this chapter shall not operate to restrict the meaning of any general\ngrant of power contained in this chapter or to exclude other power…

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

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

§ 603. Pending actions or proceedings. This chapter or anything\ntherein contained shall not affect or abate any actions, proceedings,\ncivil or criminal, pending at the time when this chapter shall take\neffect, brought by, for or against the state, the state division of\nhousi…

§ 604. Saving clause. 1. The repeal of the laws as specified in\nsection six hundred five and any other provisions of this chapter, shall\nnot affect or impair any contract or remedy, or any act done or any\nright accruing, accrued or acquired, taxes, tax obligations, or\nexempt…

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

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

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

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

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

§ 609. This act shall take effect March first, nineteen hundred\nsixty-two.\n

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

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

§ 610. Rental assistance and legal regulated rents. 1. (a)\nNotwithstanding the emergency tenant protection act of nineteen\nseventy-four or the rent stabilization law of nineteen hundred\nsixty-nine, any regulation promulgated pursuant to such act or law, or\nany other provisio…

§ 611. Rent stabilization and regulatory agreements. 1.\nNotwithstanding any other provision of law, including the provisions of,\nor any regulation promulgated pursuant to, the emergency tenant\nprotection act of nineteen seventy-four or the rent stabilization law of\nnineteen …

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

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