New York § 803 Conditions precedent to making such loans

New York Statutes

§ 803 — Conditions precedent to making such loans

New York § 803

Law PVHPrivate Housing Finance

Art. 15Participation Loans to Owners of Multiple Dwellings By Private Investors and Municipalities Utilizing Federal Grant Funds

This text of New York § 803 (Conditions precedent to making such loans) 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 § 803 (2026).

Text

  § 803. Conditions precedent to making such loans. A municipality shall\nnot participate in a loan pursuant to this article unless the agency\nfinds that the area in which the existing multiple dwelling,\nnon-residential property or vacant land is situated is a blighted,\ndeteriorated or deteriorating area, or has a blighting influence on the\nsurrounding area, or is in danger of becoming a slum or a blighted area\nbecause of the existence of substandard, insanitary, deteriorating or\ndeteriorated conditions, an aged housing stock, or under-utilized\nnon-residential property, or other factors indicating an inability of\nthe private sector unaided to cause such rehabilitation, conversion or\nconstruction to be made and unless the agency has notified occupants of\nthe existing multiple dwel

Free access — add to your briefcase to read the full text and ask questions with AI

§ 803. Conditions precedent to making such loans. A municipality shall\nnot participate in a loan pursuant to this article unless the agency\nfinds that the area in which the existing multiple dwelling,\nnon-residential property or vacant land is situated is a blighted,\ndeteriorated or deteriorating area, or has a blighting influence on the\nsurrounding area, or is in danger of becoming a slum or a blighted area\nbecause of the existence of substandard, insanitary, deteriorating or\ndeteriorated conditions, an aged housing stock, or under-utilized\nnon-residential property, or other factors indicating an inability of\nthe private sector unaided to cause such rehabilitation, conversion or\nconstruction to be made and unless the agency has notified occupants of\nthe existing multiple dwelling of the contemplated rehabilitation and\nhas advised them of the expected rental increase to result therefrom and\na representative of the agency has met or has offered to meet at least\nonce with the occupants.\n