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9 CRR-NY 1750.4NY-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 E. DISSOLUTION OF LIMITED-PROFIT AND LIMITED-DIVIDEND HOUSING COMPANIES

PART 1750. VOLUNTARY DISSOLUTION

9 CRR-NY 1750.4

1750.4 Public information notice.

(a) Upon receipt of the commissioner's order as provided in section 1750.3(e) of this Part, but in no event earlier than 90 days prior to the anticipated date of dissolution, the housing company shall serve a notice of a public meeting by door delivery to each tenant, and by certified or registered mail to each of the following:

(1) the New York State Commissioner of Housing and Community Renewal and the Deputy Commissioner for Housing Operations, together with proof of service upon all parties listed herein;

(2) the State Senator and Member of the Assembly for the district in which the project is located;

(3) the mayor and local legislative member for the project, if any; and

(4) the president or chairperson of the tenants' association or council, if any.

(b) Such notice, which shall be subject to the prior approval of the division, shall specify the day, date, time and place of a public meeting to be conducted by the housing company.

(c) Such public meeting shall be held not less than 10 nor more than 20 days after service of the notice upon the parties set forth in subdivision (a) of this section. Furthermore, such public meeting shall be scheduled to commence at least 60 days prior to the anticipated date of dissolution.

(d) Such notice shall also contain a brief summary of the following:

(1) plan for transition and future management of the development;

(2) initial rents upon dissolution, including those persons receiving subsidies;

(3) items of capital improvements, including timetable for completion, analysis of the physical condition survey and the repairs and rehabilitation required as a result thereof, source of funds therefor and escrow arrangements for such funds;

(4) items of maintenance pending in the project; the timetable for completion of such work; the source of funds therefor; and escrow arrangements for such funds; and

(5) proposed level of reserves subsequent to dissolution.

9 CRR-NY 1750.4

Current through September 15, 2021

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