§ 1150. Statement of legislative findings and purposes. It is hereby found and declared that there exists in the city of New York a seriously inadequate supply of safe, sanitary and affordable dwelling accommodations for persons and families for whom the ordinary operations of private enterprise cannot provide such accommodations. The legislature further finds and […]
§ 1151. Definitions. 1. “Eligible site” shall mean any real property in the city of New York which the agency determines to be located in an area which is blighted or deteriorated or has a blighting influence on the surrounding area or is in danger of becoming a slum or blighted area because of neighborhood […]
§ 1152. Affordable housing development loans. 1. Notwithstanding the provisions of any general, special or local law, one or more private lenders and the city of New York, acting through the agency shall have the power to participate and invest in making loans to sponsors for the construction of eligible projects. Such loans may include […]
§ 1153. General provisions. 1. The agency shall issue and promulgate rules and regulations for the administration of this article. 2. If any clause, sentence, paragraph, section or part of this act shall be adjudged by any court of competent jurisdiction to be invalid, such judgement shall not affect, impair or invalidate the remainder thereof, […]
