9 CRR-NY 1760.1NY-CRR

OFFICIAL COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 9. EXECUTIVE DEPARTMENT
SUBTITLE S. DIVISION OF HOUSING AND COMMUNITY RENEWAL
CHAPTER IV. STATE-ASSISTED HOUSING CONSTRUCTED BY PRIVATE ENTERPRISE
SUBCHAPTER E. DISSOLUTION OF LIMITED-PROFIT AND LIMITED-DIVIDEND HOUSING COMPANIES
PART 1760. REDEVELOPMENT AND REFINANCE
9 CRR-NY 1760.1
9 CRR-NY 1760.1
1760.1 Introduction.
With the consent of the division, a housing company may satisfy its existing mortgage and enter into a new State-aided or private mortgage, and thereafter continue under the Mitchell-Lama program. Such refinance may be in connection with a redevelopment plan under which the housing company enters into multiple regulatory agreements with the division and other agencies under a variety of subsidy programs to raise capital for rehabilitation work and to help maintain the premises as safe, decent, and affordable housing. When a refinancing is part of a redevelopment plan that involves more than one governmental agency with supervisory authority, some of the requirements of this Part may be eliminated pursuant to section 1700.6 of this Chapter.
9 CRR-NY 1760.1
Current through September 15, 2021
End of Document