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2013 New York Consolidated Laws
PVH - Private Housing Finance
Article 10 - (550 - 560) SALE OR LEASE OF PROJECTS
553 - Conditions precedent to sale or lease.


NY Priv Hous Fin L § 553 (2012) What's This?
 
    §  553.  Conditions  precedent to sale or lease.  No such grant, sale,
  lease or conveyance under this article shall  be  made  unless  (1)  the
  authority  or municipality, after a public hearing on ten days published
  notice, and with the approval of the government providing the  financial
  assistance,  shall  find  that  such  transfer  is  in  the  best public
  interest, (2) adequate provision will be made for tenant relocation, and
  (3) adequate provision will be made for the payment or retirement of all
  bonds, notes  and  other  obligations  issued  by  the  municipality  or
  authority to finance the project cost.

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