§ 41 — Statement of legislative findings and purposes

New York § 41

• Jurisdiction: New York
• Law PVH: Private Housing Finance
• Art. 3: New York State Housing Finance Agency

Text

§ 41. Statement of legislative findings and purposes. 1. There\ncontinues to exist in the state a seriously inadequate supply of safe\nand sanitary dwelling accommodations, non-housekeeping accommodations,\naged care accommodations or accommodations for handicapped persons\nwithin the financial reach of families and persons (including aged and\nhandicapped persons) of low income. This condition is contrary to the\npublic interest and threatens the health, safety, welfare, comfort and\nsecurity of the people of the state.\n 2. The ordinary operations of private enterprise cannot provide an\nadequate supply of safe and sanitary dwelling accommodations,\nnon-housekeeping accommodations, aged care accommodations and\naccommodations for handicapped persons at rentals which families and\npersons of low income can afford. In order to encourage the investment\nof private capital and provide such dwelling accommodations,\nnon-housekeeping accommodations, aged care accommodations and\naccommodations for handicapped persons provision should be made for\nmortgage loans, at low interest rates, to housing companies which,\nsubject to state regulation as to rents, profits, dividends and\ndisposition of their property, supply multiple dwelling accommodations,\nnon-housekeeping accommodations, aged care accommodations and\naccommodations for handicapped persons, and other facilities incidental\nor appurtenant thereto, to such families and persons. For that purpose\nthere should be created a corporate governmental agency of the state, to\nbe known as the "New York state housing finance agency," which, through\nthe issuance of its bonds, notes or other obligations to the private\ninvesting public, may attract a broad base of investment by the greatest\nnumber of the general public and obtain the funds necessary to make or\nfinance the making of such mortgage loans. Thus, private capital will be\nencouraged to enter this field of investment and will help meet the\nhousing needs of families and persons of low income. Provision should\nalso be made for the New York state housing finance agency to lease such\ndwelling accommodations and to receive appropriations from the state, in\naid of providing housing in limited profit housing company projects for\npersons and families of low income who would otherwise be eligible for\noccupancy in low rent public housing.\n * 2-a. Programs to attract capital to provide dwelling accommodations\nwhich families and persons of low and moderate income can afford may not\nbe economically feasible without adequate subsidy where all of the units\nin the multiple dwelling accommodations to be financed are regulated as\nto rents, profits, dividends and disposition of the owner's property. In\nsuch cases the New York state housing finance agency should provide\nresidential units for such families and persons by making loans, or\nfinancing the making of such loans, to the owners of housing\ndevelopments which will be required to supply, for a reasonable period\nof time, a portion of residential units to such families and persons at\nrentals they can afford. Further it is the policy of the state through\nthe New York state housing finance agency to maximize as fully as\npossible consistent with the economic feasibility of each housing\ndevelopment the affordability, period of occupancy, and number of units\nin those portions of each housing development which are designed to be\naffordable to persons of low and moderate income.\n * NB Repealed July 23, 2027\n 3. There is also threatened in the state an inadequate supply of\nacademic buildings and other facilities at the state-operated\ninstitutions and statutory and contract colleges under the jurisdiction\nof the state university of New York when needed and when scheduled under\nthe approved master plan of the state university. In order to encourage\nthe investment of private capital in such academic buildings and other\nfacilities and to assure their timely construction, acquisition,\nreconstruction, rehabilitation and improvement, the New York state\nhousing finance agency should also be empowered, through the issuance of\nits bonds, notes or other obligations to the private investing public,\nto obtain a portion of the funds necessary to finance such academic\nbuildings and other facilities at the state-operated institutions and\nstatutory and contract colleges under the jurisdiction of the state\nuniversity of New York.\n 4. Further, it is the policy of the state to promote the redevelopment\nand reconstruction of municipal urban renewal areas in a manner that\nwill serve the civic, cultural and recreational needs of the community\nas a whole. The ordinary operations of private enterprise cannot provide\nadequate financing for the construction of civic, cultural and\nrecreational structures and facilities and other non-profit capital\ndevelopment projects invested with a public interest, which are needed\nin connection with urban renewal programs. In order to encourage the\ninvestment of private capital in such projects, and to assure the\nexpeditious undertaking, financing and completion of the redevelopment\nand reconstruction of urban renewal areas in the municipalities of the\nstate, the New York state housing finance agency should also be\nempowered, through the issuance of its bonds, notes or other obligations\nto the private investing public, to obtain the funds necessary to make\nmortgage loans, at low interest rates, to non-profit community\ndevelopment corporations for the acquisition and construction of such\nprojects, structures and facilities.\n 5. Prompt provision of well-equipped, modern hospitals, schools and\nother facilities related to the care, maintenance and treatment of\nmentally ill persons, mental defectives and epileptics is also needed in\nthe state. In order to encourage the investment of private capital in\nsuch hospitals, schools and other mental hygiene facilities and to\nassure their timely construction, acquisition, reconstruction,\nrehabilitation and improvement, the New York state housing finance\nagency should be empowered, through the issuance of its bonds, notes or\nother obligations to the private investing public, to obtain a portion\nof the funds necessary to finance the same and to meet the needs of\npatients and staff at such facilities.\n 6. A serious shortage of safe and sanitary nursing home accommodations\nproviding therein nursing care, lodging and board by or under the\nsupervision of a duly licensed physician to sick, invalid, infirm,\ndisabled or convalescent persons of low income or providing\nhealth-related service as defined in article twenty-eight of the public\nhealth law to persons of low income or any combination of the foregoing,\nand in addition thereto, providing nursing care and health-related\nservice, or either of them, to persons of low income who are not\noccupants of the project, whose need for such facilities and services\ncannot readily be provided by the ordinary unaided operation of private\nenterprise, exists in many communities throughout the state that it is\nthe policy of the state to promote the provision of such nursing home\naccommodations, including such other facilities as may be incidental and\nappurtenant thereto; that there is need for non-profit corporations and\nlimited-profit corporations to construct, acquire, reconstruct,\nrehabilitate and improve such low cost nursing home accommodations. In\norder to encourage the investment of private capital in such nursing\nhomes, the New York state housing finance agency should also be\nempowered, through the issuance of its bonds, notes or other obligations\nto the private investing public, to obtain funds necessary to finance\nnursing homes.\n 7. There is a serious shortage throughout the state of facilities\nsuitable for use for the care of children especially those of pre-school\nage and primary school age whose parents are unable to provide such care\nfor all or a substantial portion of the day or post-school day. A\nsimilar shortage of residential child care facilities also exists.\nExisting day care and residential child care facilities are overcrowded\nwith long waiting lists. Many such facilities are so located that they\nare not accessible to families in need of such services. The absence of\nadequate day care and residential child care facilities is contrary to\nthe interest of the people of the state, is detrimental to the health\nand welfare of the child and his parents and often prevents the gainful\nemployment of persons, who are otherwise qualified, because of the need\nto provide such care in their home. In order to encourage the investment\nof private capital in such facilities and to assure their timely\nconstruction, acquisition, reconstruction, rehabilitation and\nimprovement, the New York state housing finance agency should be\nempowered, through the issuance of its bonds, notes or other obligations\nto the private investing public, to obtain a portion of the funds\nnecessary to finance such facilities and to meet the needs of the\ncommunity.\n 8. Prompt provision of new and improved community mental health and\ndevelopmental disabilities facilities is required for the care and\ntreatment of the increasing number of persons afflicted with mental\nillness, mental deficiencies, epilepsy and behavior or emotional\ndisorders; that such facilities should be located close to the people\nthey serve in order to speed rehabilitation and restoration and to\nprovide for out-patient and in-patient care, including after care,\ndiagnostic and rehabilitative services and residential accommodations\nfor operation as hostels; that it is the policy of the state to promote\nthe provision of such community mental health and developmental\ndisabilities facilities; that there is a need for non-profit\ncorporations to construct low cost community mental health and\ndevelopmental disabilities facilities. In order to encourage the\ninvestment of private capital in such community mental health and\ndevelopmental disabilities facilities, and to assure the expeditious\ncompletion of such community mental health and developmental\ndisabilities facilities, the New York state housing finance agency\nshould be empowered, through the issuance of its bonds, notes or other\nobligations to the private investing public, to obtain funds necessary\nto make mortgage loans, at low interest rates, to non-profit\ncorporations for the construction, acquisition, reconstruction,\nrehabilitation or improvement of such mental health and developmental\ndisabilities facilities.\n 9. Many hospitals and other health facilities throughout the state are\nbecoming obsolete and are no longer adequate to meet the needs of modern\nmedicine. As a result of rapid technological changes, such facilities\nrequire substantial structural or functional changes. Others are\nunsuited for continued use by virtue of their location and the physical\ncharacteristics of their existing plants and should be replaced. Such\ninadequate and outmoded facilities deny to the people of the state the\nbenefits of health care of the highest quality efficiently and promptly\nprovided and at a reasonable cost. Their replacement and modernization\nis essential to protect and prolong the lives of the state's population\nand cannot be readily accomplished by the ordinary unaided operation of\nprivate enterprise. It is the policy of the state to encourage the\nprovision of modern, well-equipped health facilities, including such\nother facilities as may be incidental and appurtenant thereto. In\nfurtherance of this end and in order to obtain the investment of private\ncapital in such hospitals and other health facilities, the New York\nstate housing finance agency should also be empowered through the\nissuance of its bonds, notes or other obligations to the private\ninvesting public, to obtain the funds necessary to finance such hospital\nand health facilities.\n 10. Prompt provision of new and improved community senior citizens\nfacilities is required for the increasing number of persons who are in\nneed of programs and services for the aging. Such facilities should be\nlocated close to the people they serve and should supplement the\nprograms and services provided for such persons by the office for the\naging pursuant to title one of article two of the elder law; that it is\nthe policy of the state to promote the provision of such facilities;\nthat there is need for non-profit corporations to construct low cost\ncommunity senior citizens facilities. In order to encourage the\ninvestment of private capital in such community senior citizens\nfacilities, and to assure the expeditious completion of such facilities,\nthe New York state housing finance agency should be empowered, through\nthe issuance of its bonds, notes or other obligations to the private\ninvesting public, to obtain funds necessary to make mortgage loans, at\nlow interest rates, to non-profit corporations for the construction,\nacquisition, reconstruction, rehabilitation or improvement of such\nfacilities.\n 11. It is frequently appropriate to combine and coordinate the\ndevelopment, rehabilitation and provision of housing with the\ndevelopment, rehabilitation and provision of health and health related\nfacilities such as intermediate care, skilled nursing, aged treatment,\nand hospice facilities for which there is also a need. In order to\nencourage the investment of private capital in non-profit housing and\nhealth facilities, and to assure the expeditious completion of such\nfacilities, the New York state housing finance agency should be\nempowered, through the issuance of its bonds, notes or other obligations\nto the private investing public, to obtain funds necessary to finance\nloans, for the construction, acquisition, reconstruction, rehabilitation\nor improvement of such facilities.\n