§ 89 — Consolidated projects; operation of more than one project

New York § 89

• Jurisdiction: New York
• Law PVH: Private Housing Finance
• Art. 4: Limited Dividend Housing Companies

Text

§ 89. Consolidated projects; operation of more than one project. The\ncommissioner may permit the consolidation of two or more approved\nprojects or the extension or amendment of any approved project or the\nconsolidation of any approved project with a proposed project. In any of\nthese events, the consolidated project shall be treated as an original\nproject and an application shall be submitted as in the case of an\noriginal project and rents and costs may be averaged throughout the\nconsolidated or extended project. The commissioner may likewise permit\nany housing company to organize and operate more than one project or to\ntake over any project heretofore approved by the commissioner and to\noperate it independently of other projects of the housing company. The\ncommissioner may in his discretion decline to permit more than one\nproject to be operated by the same housing company.\n