9 CRR-NY 1648-2.3NY-CRR

STATE 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 III. LOW RENT HOUSING
SUBCHAPTER D. ACCOUNTING MANUAL FOR PUBLIC HOUSING AGENCIES
PART 1648. SUBSIDIES
SUBPART 1648-2. LOCAL SUBSIDIES
9 CRR-NY 1648-2.3
9 CRR-NY 1648-2.3
1648-2.3 Local cash subsidy.
Where a loan and subsidy contract specifically so provides, a municipality will be required to pay a local cash subsidy, in the minimum amount specified in the contract, regardless of the value of the tax exemption subsidy. Local cash subsidies may also be required under other circumstances, as where the value of the tax exemption is not sufficient to match the State subsidy, or where the operating deficit is in excess of the maximum State subsidy.
9 CRR-NY 1648-2.3
Current through September 15, 2021
End of Document

IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.