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9 CRR-NY 1727-6.2NY-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 IV. STATE-ASSISTED HOUSING CONSTRUCTED BY PRIVATE ENTERPRISE

SUBCHAPTER C. HOUSING COMPANY MANAGEMENT

PART 1727. OCCUPANCY

SUBPART 1727-6. MISCELLANEOUS PROVISIONS OF TENANCY

9 CRR-NY 1727-6.2

1727-6.2 Lease on commercial space.

(a) Where stores or other commercial facilities are rented by a housing company, they may be leased without approval of the division where:

(1) the rent is not less than projected as part of the commercial income in the last approved budget;

(2) there is not an identity of interest or a contract or commitment in need of further supervision; and

(3) there is approval of the board of directors, housing company, and housing company counsel. The approval by the housing company counsel shall include review to assure that the division and any State mortgagee are additionally insured in amounts required by the division, and the division and such State mortgagee would be defended and indemnified.

(b) Commercial spaces may be rented to not-for-profit organizations for less than market rental if in the judgment of the board of directors such a rental will enhance the quality of life for its cooperators or tenants. A housing company must establish a uniform procedure for review of such rentals to assure their overall fairness. Any rental will require division approval where an officer or a member of such not-for-profit is a person who is identified in the identity of interest provisions of this Chapter, or a former principal, member or employee of the housing company or its managing agent.

(c) Any proposed lease involving the installation of roof top antennas, communication equipment, or other building appenditures are subject to prior division approval.

9 CRR-NY 1727-6.2

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.