New York § 553 Conditions precedent to sale or lease

New York Statutes

§ 553 — Conditions precedent to sale or lease

New York § 553

Law PVHPrivate Housing Finance

Art. 10Sale or Lease of Projects

This text of New York § 553 (Conditions precedent to sale or lease) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Private Housing Finance § 553 (2026).

Text

  § 553. Conditions precedent to sale or lease.  No such grant, sale,\nlease or conveyance under this article shall be made unless (1) the\nauthority or municipality, after a public hearing on ten days published\nnotice, and with the approval of the government providing the financial\nassistance, shall find that such transfer is in the best public\ninterest, (2) adequate provision will be made for tenant relocation, and\n(3) adequate provision will be made for the payment or retirement of all\nbonds, notes and other obligations issued by the municipality or\nauthority to finance the project cost.\n

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§ 553. Conditions precedent to sale or lease. No such grant, sale,\nlease or conveyance under this article shall be made unless (1) the\nauthority or municipality, after a public hearing on ten days published\nnotice, and with the approval of the government providing the financial\nassistance, shall find that such transfer is in the best public\ninterest, (2) adequate provision will be made for tenant relocation, and\n(3) adequate provision will be made for the payment or retirement of all\nbonds, notes and other obligations issued by the municipality or\nauthority to finance the project cost.\n