§ 68 — State/city allocations of permanent housing projects for homeless families

New York § 68

• Jurisdiction: New York
• Law PVH: Private Housing Finance
• Art. 3-A: Permanent Housing For Homeless Families

Text

§ 68. State/city allocations of permanent housing projects for\nhomeless families. 1. No contract shall be entered into by the agency or\nits designee in connection with the administration of projects,\nincluding the payment of project costs, unless the agency is assured to\nits satisfaction that the city has provided or will provide fifty\npercent of such costs to the agency or its designee. Moneys received\nfrom sources other than the city or the state may, at the agency's\ndiscretion, be expended without regard to such limitation.\nNotwithstanding any other provision of law, payments, grants and loans\nmay be deposited by the agency directly with a lending institution at or\nbefore the time of initial loan closing pursuant to an escrow agreement\nsatisfactory to the agency.\n 2. Moneys expended by the agency for the purposes of this article\nshall not substitute for locally funded operating or capital\nexpenditures which the city would have allocated through its normal\nbudgetary process to programs that provide permanent housing for\nhomeless families in the absence of the funds provided for this program.\nAll such moneys shall be used to increase locally funded operating or\ncapital expenditures for permanent housing for homeless families to a\nlevel which is greater than the level which would have existed if such\nmoneys had not been provided by the state. Nothing in this subdivision\nshall require the city to allocate funds for housing programs if in the\ncity's judgment such allocation would require an increase in taxation or\na reduction in other city services.\n