New York § 1025 Administrative provisions

New York Statutes

§ 1025 — Administrative provisions

New York § 1025

Law PVHPrivate Housing Finance

Art. 17-ARental Assistance Program For Rural Areas

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Bluebook

N.Y. Private Housing Finance § 1025 (2026).

Text

§ 1025. Administrative provisions.

1.The commissioner shall provide,\nby regulations, for the administration of the provisions of this\narticle. Such regulations shall include, but need not be limited to,\nprovisions for operation of the project by the sponsor in a manner\nconsistent with the intent of this article.\n 2. Every contract entered into pursuant to this article shall obligate\nthe sponsor not to charge or collect from any tenant of a unit covered\nby such contract a rent higher than the tenant rent payment established\npursuant to section one thousand twenty-four of this article.\n 3. Rental assistance payments pursuant to this article may be pledged\nby the sponsor in connection with the financing or refinancing of a\nproject, subject to any conditions prescribed in the h

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§ 1025. Administrative provisions. 1. The commissioner shall provide,\nby regulations, for the administration of the provisions of this\narticle. Such regulations shall include, but need not be limited to,\nprovisions for operation of the project by the sponsor in a manner\nconsistent with the intent of this article.\n 2. Every contract entered into pursuant to this article shall obligate\nthe sponsor not to charge or collect from any tenant of a unit covered\nby such contract a rent higher than the tenant rent payment established\npursuant to section one thousand twenty-four of this article.\n 3. Rental assistance payments pursuant to this article may be pledged\nby the sponsor in connection with the financing or refinancing of a\nproject, subject to any conditions prescribed in the housing assistance\ncontract, but no such pledge shall create any obligation or liability on\nthe part of the state or any agency or instrumentality thereof other\nthan that prescribed in the contract.\n 4. Nothing in this article shall prevent any sponsor from seeking or\naccepting any other form of governmental subsidy or assistance, but any\ncontract pursuant to this article shall provide for appropriate\nadjustments in the rental assistance payments to reflect such other\nsubsidy or assistance.\n