2013 New York Consolidated Laws
PVH - Private Housing Finance
Article 11 - (570 - 582) HOUSING DEVELOPMENT FUND COMPANIES
571 - Statement of legislative findings and purposes.

 
    § 571. Statement of legislative findings and purposes. The legislature
  hereby  finds  and declares that there continues to exist in the state a
  seriously inadequate supply of safe and sanitary dwelling accommodations
  within the financial reach of families and persons of low  income.  This
  condition  is  contrary to the public interest and threatens the health,
  safety, welfare, comfort and security of the people of the state.
    The  legislature  further  finds  and  declares  that   the   ordinary
  operations  of  private  enterprise cannot provide an adequate supply of
  safe and sanitary dwelling accommodations at rentals which families  and
  persons of low income can afford.
    The   legislature   further   finds  that  eleemosynary  institutions,
  settlement houses, fraternal and labor  organizations,  foundations  and
  other  non-profit  associations  are desirous of organizing companies to
  build or rehabilitate housing for low income families; that in order for
  such organizations to build or rehabilitate housing, such  organizations
  need and can effectively utilize development funds to procure government
  aided or other permanent financing therefor.
    The  legislature  further  finds  that  such development funds and the
  provision of technical assistance in the organization and management  of
  housing  development  fund  companies  will  maximize  federal funds and
  credits which may be available for the  provision  of  housing  for  low
  income residents of the state.
    It  is  the  purpose  of  this  act to provide temporary financial and
  technical assistance  to  enable  such  companies  to  participate  more
  effectively in existing municipal, state and federal assistance programs
  and  to  make more effective use of other sources of financing which may
  be available for housing of persons and families of low income.
    It is further the purpose of this  article  to  coordinate  activities
  aided  under  existing  municipal, state and federal programs with other
  public and private actions in order to provide the  most  effective  and
  economical  concentration  of federal, state, local, and private efforts
  to increase the supply of housing  accommodations  for  persons  of  low
  income,  and  thereby  improve the quality of life for all the people of
  the state.
    It is further the purpose of this article to  provide  assistance  for
  existing not-for-profit housing companies by providing advances from the
  housing   development   fund   to   facilitate   the  rehabilitation  or
  construction of housing for low income families.
    It is further the purpose of this article to  provide  assistance  for
  the  improvement  of  housing  for  farmworkers by providing advances to
  local loan administrators to make loans to  agricultural  producers  for
  the  purpose  of  constructing  or  improving  non-conforming farmworker
  housing in order to comply  with  state  regulations  relating  to  such
  housing.