Title PVH, Private Housing Finance

§ 800. Policy and purposes of article. It is hereby declared and found\nthat there exists in municipalities in this state substandard and\ninsanitary areas and neighborhoods characterized by undermaintained and\ndeteriorating housing accommodations and under-utilized non-residen…

§ 801. Definitions. As used in this article the following terms shall\nhave the following meanings unless a different meaning clearly appears\nfrom the context:\n 1. "Agency" shall mean the office or agency of a municipality\nauthorized to administer the expenditure of grants fr…

§ 801-a. Application to certain garden-type maisonette dwelling\nprojects. For purposes of this article an existing multiple dwelling\nshall be deemed to include any garden-type maisonette dwelling project\nconsisting of a series of dwelling units which together and in their\nag…

§ 802. Participation loans to owners. 1. (a) Notwithstanding the\nprovisions of any general, special or local law, one or more private\ninvestors and a municipality, acting through its agency, shall have the\npower to participate and invest in making loans to the owners of\nexis…

§ 803. Conditions precedent to making such loans. A municipality shall\nnot participate in a loan pursuant to this article unless the agency\nfinds that the area in which the existing multiple dwelling,\nnon-residential property or vacant land is situated is a blighted,\ndeterio…

§ 804. Rentals. Notwithstanding the provisions of, or any regulation\npromulgated pursuant to, the emergency housing rent control law, the\nlocal emergency housing rent control act or local law enacted pursuant\nthereto, upon completion of the rehabilitation of an existing multi…

§ 805. Participation of New York city housing development corporation.\nThe New York city housing development corporation may participate with\none or more private investors or with the city of New York or with both\nin making a loan pursuant to the provisions of this article. W…

§ 806. Regulations. The agency may promulgate supplementary rules and\nregulations to carry out the provisions of this article.\n

§ 81. Mortgages and mortgage bonds. 1. (a) Any housing company formed\nunder this article may, subject to the approval of the commissioner,\nborrow funds and secure the repayment thereof by bond or note and\nmortgage or by an issue of bonds under trust indenture. Each mortgage o…

§ 82. Limitations. No housing company shall:\n 1. Acquire any real property or interest therein unless it shall first\nhave obtained approval of the project from the commissioner, and a\ncertificate that such acquisition is necessary or convenient for the\npublic purpose defined…

§ 82-a. Redevelopment loans. Notwithstanding any provision of section\neighty-one or eighty-two of this article to the contrary, where a\nhousing company undergoes a comprehensive redevelopment plan, the\ncommissioner may approve a loan and encumbrance of such project in an\namo…

§ 83. Execution of housing company projects. No building or\nconstruction shall be undertaken by any housing company without the\napproval of the commissioner. Such approval shall be conditioned upon:\n 1. The submission of a plan in such form and with such assurances as\nthe co…

§ 84. Regulation of housing companies. The commissioner may:\n 1. Order such repairs as will preserve the health and safety of the\noccupants of such buildings and structures owned or operated by housing\ncompanies, and the maintenance thereof in proper condition and repair.\n 2…

§ 84-a. Additional supervision and regulation of housing companies.\nThe commissioner shall require that every company file with him, within\nsix months of the effective date of regulations implementing this\nsection and in such format as the commissioner shall prescribe an ener…

§ 85. Control of rentals. 1. The commissioner shall fix the maximum\nrental per room to be charged the tenants of the dwellings furnished by\na housing company, the average of such rentals for the dwellings in any\nproject not to exceed the maximum average rental prescribed by l…

§ 85-a. Selection of tenants and occupants. 1. The dwellings in a\nhousing company project, other than a mutual project, shall be available\n (a) If such project was completed or acquired on or after July first,\nnineteen hundred fifty-five, for persons or families whose probabl…

§ 85-b. 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 commissioner:\n (a) The resale price of shares in a mutual company shall be fixed by\nthe mutual…

§ 86. Reduction of rentals in housing company projects. If in any\ncalendar or fiscal year the gross receipts of any housing company should\nexceed the payments or charges specified in section eighty-five, the\nsums necessary to pay distributions or interest accrued or unpaid on…

§ 87. Increase of rentals in housing company projects. Whenever it\nshall appear that the interests of lienholders, creditors, debenture\nholders, shareholders, partners or beneficiaries cannot otherwise be\nsafeguarded, the commissioner shall, notwithstanding the limitation\npr…

§ 88. Surplus. The amount of net earnings transferable to surplus in\nany year after making or providing for the payments specified in items\n(a), (b) and (c) of subdivision one of section eighty-five of this\narticle shall be subject to the approval of the commissioner. The amo…

§ 89. Consolidated projects; operation of more than one project. The\ncommissioner may permit the consolidation of two or more approved\nprojects or the extension or amendment of any approved project or the\nconsolidation of any approved project with a proposed project. In any o…

§ 90. Purchase by housing companies. Before any housing company shall\npurchase the property of any other housing company, it shall file an\napplication with the commissioner in the manner hereinbefore provided as\nfor a new project and shall obtain the consent of the commission…

§ 901. Declaration of legislative findings. The legislature hereby\nfinds and declares that there has developed in recent years, in various\nmunicipalities of the state, a growth of community-based not-for-profit\norganizations, originating for the most part within and organized…

§ 902. Definitions. As used in this article, the following words and\nphrases shall have the following meanings:\n 1. "Commissioner" shall mean the commissioner of the state division of\nhousing and community renewal.\n 2. "Division" shall mean the state division of housing and …

§ 903. Contracts with neighborhood preservation companies. 1. The\ncommissioner may enter into contracts with neighborhood preservation\ncompanies for the performance of neighborhood preservation activities.\nSuch contracts shall be entered into, however, only after appropriate\…

§ 904. Payments to neighborhood preservation companies for\nneighborhood preservation activities. 1. Each contract entered into with\na neighborhood preservation company shall provide for payment to the\nneighborhood preservation company for neighborhood preservation\nactivities…

§ 905. Periodic review of contract performance; renegotiation and\ntermination of contract. 1. The division shall, by regulation as\nhereinafter provided, provide for formal evaluation of the performance\nof a company to determine its progress in achieving the objectives\noutlin…

§ 906. Technical services and assistance to neighborhood preservation\ncompanies. 1. The division is hereby authorized to render to\nneighborhood preservation companies such technical services and\nassistance as it may possess or as may be available to it to enable such\ncompani…

§ 907. Rules and regulations to be promulgated by the commissioner.\nThe commissioner shall issue and promulgate rules and regulations for\nthe administration of this article, which rules and regulations shall\ninclude provisions concerning requirements as to eligibility for\nco…

§ 908. Applicability of other laws to neighborhood preservation\ncompanies. Nothing contained in this article shall be deemed or\nconstrued to prevent or deny to any neighborhood preservation company\nthe opportunity to qualify as a developer, sponsor, owner or other\nparticipan…

§ 909. Annual report. The commissioner shall, on or before December\nthirty-first in each year submit a report to the legislature on the\nimplementation of this article. Such report shall include, but not be\nlimited to, for each company receiving payments under this article: a\…

§ 91. Proceedings against housing companies. 1. Whenever the\ncommissioner shall be of the opinion that a housing company is failing\nor omitting, or is about to fail or omit to do anything required of it\nby law or by order of the commissioner or is doing or is about to do\nany…

§ 910. Merged company savings fund. The division shall create a fund\nto hold and shall transfer all funds determined to be merged company\nsavings pursuant to paragraph (d) of subdivision five of section nine\nhundred four of this article into such fund. The division shall use …

§ 92. Reorganization. 1. Reorganization of housing companies shall be\nsubject to the supervision and control of the commissioner and no such\nreorganization shall be had without the authorization of the\ncommissioner.\n 2. Upon all such reorganizations the capital structure of …

§ 920. Statement of legislative findings and purpose. The legislature\nhereby finds and declares that there exists in New York state a serious\nneed for the restoration and improvement of housing, local commercial\nareas and public facilities in distressed urban neighborhoods an…

§ 921. Definitions. As used in this article:\n 1. "Commissioner" shall mean the commissioner of the state division of\nhousing and community renewal.\n 2. "Division" shall mean the division of housing and community\nrenewal.\n 3. "Eligible applicant" shall mean a not-for-profit …

§ 922. Urban initiative contracts. 1. Within the limit of funds\navailable in the urban initiative program, the corporation is hereby\nauthorized to enter into contracts with eligible applicants to provide\nstate financial assistance for the project costs attributable to urban\n…

§ 923. General and administrative provisions. 1. The corporation shall\nissue and promulgate rules and regulations for the administration of\nthis article. The rules and regulations shall include provisions\nconcerning the eligibility of applicants for payments, grants and loans…

§ 924. Transfer of authority, administration and appropriations. 1. On\nand after the effective date of this article, all obligations of the\ndivision with respect to the division urban initiatives program shall\nbecome the obligations of the corporation and the corporation shal…

§ 93. Tax exemptions. 1. Any housing company shall be exempt from the\npayment of any and all franchise, organization, income, mortgage\nrecording and other taxes to the state and all fees to the state or its\nofficers.\n 2. Bonds and mortgages and the income debenture certifica…

§ 94. Foreclosure. 1. In any foreclosure action the commissioner, and\nthe municipality if it has made a loan to the housing company, in\naddition to other necessary parties, shall be made parties defendant;\nand the commissioner and the municipality shall take all steps in such…

§ 95. Judgments against housing companies not relating to mortgage\nindebtedness. In the event of a judgment against a housing company in\nany action not pertaining to the collection of a mortgage indebtedness,\nthere shall be no sale of any of the real property of such housing\…

§ 96. Voluntary dissolution. 1. Notwithstanding any provisions in\nthis article to the contrary, a housing company organized pursuant to\nthis article after April first, nineteen hundred sixty-two, may\nvoluntarily be dissolved, or in the case of a housing company which is a\ntr…

§ 97. Corporations in existence prior to enactment of article.\nNothing in this article contained shall be deemed to require the\nreincorporation of any public limited dividend housing company or any\nprivate limited dividend housing company heretofore organized under the\nprovi…