2013 New York Consolidated Laws
PVH - Private Housing Finance
Article 8 - (400 - 408) LOANS TO OWNERS OF EXISTING MULTIPLE DWELLINGS
403 - Occupancy.

 
    §  403.  Occupancy.  1.  The  dwelling  units in any existing multiple
  dwelling aided by a loan pursuant to this  article  shall  be  available
  solely  for persons or families of low income during the period in which
  any part of such loan remains unpaid, any exemption and  abatement  from
  taxation  on  the property resulting from the installations, alterations
  or improvements made with such loan remains in effect or for a period of
  at least ten years from the occupancy date, whichever is the later.
    2. In the event that after any person or family  included  within  the
  provisions  of  paragraph a of subdivision three of section four hundred
  one of this article, but not included within the provisions of paragraph
  b of such subdivision three, begins occupancy of any  dwelling  unit  in
  any  multiple  dwelling  aided  by  a loan pursuant to this article, and
  during the period while such dwelling unit is subject to a maximum  rent
  prescribed pursuant to this article, the income of such person or family
  increases  so  as  to  exceed  the applicable maximum prescribed by such
  paragraph a by more than fifty per centum, such person shall be  subject
  to removal from such dwelling with the approval of the agency.
    3.  a. In the event that on the date on which a contract for a loan is
  made with respect to a multiple dwelling aided by  a  loan  pursuant  to
  this  article,  any  person  or family occupying a dwelling unit in such
  multiple dwelling and included within the provisions of paragraph  b  of
  subdivision  three  of  section  four hundred one of this article, has a
  probable aggregate annual income, as determined in accordance  with  the
  provisions  of  paragraph a of such subdivision three, which exceeds the
  income limits specified in such paragraph a by more than fifty per cent,
  such person or family shall be subject to  removal  from  such  dwelling
  unit  with the approval of the agency upon the expiration of a period of
  two years after the date on which such contract is entered into.
    b. In the event that at any time within a period of  two  years  after
  any  such  contract  is  entered  into, the income of any such person or
  family increases so as to exceed the income  limits  specified  in  such
  paragraph  a by more than fifty per cent, such person or family shall be
  subject to removal from such dwelling unit  with  the  approval  of  the
  agency upon the expiration of such period of two years.
    c.  If,  at  any  time subsequent to the expiration of a period of two
  years after any such contract is entered into,  and  during  the  period
  while the dwelling unit occupied by any such person or family is subject
  to  a  maximum  rent  prescribed pursuant to this article, the income of
  such person or family increases  so  as  to  exceed  the  income  limits
  specified  in  such paragraph a by more than fifty per cent, such person
  or family shall be subject to removal from such dwelling unit  with  the
  approval of the agency.
    4.  Any  person  or  family  in occupancy, whether included within the
  provisions of paragraph a or paragraph b of subdivision three of section
  four hundred one of this  article,  whose  income  exceeds  the  maximum
  prescribed  by  the  provisions  of such paragraph a with respect to the
  time of  beginning  of  occupancy,  shall  pay  a  rental  surcharge  in
  accordance  with  a  schedule  of  surcharges  to  be promulgated by the
  agency.  Rental surcharges collected pursuant to this section  shall  be
  paid  by  the owner to the municipality which has granted such owner tax
  exemption or tax abatement pursuant to any law authorizing the  granting
  of  same,  as  reimbursement to such municipality therefor. In the event
  that such tax exemption and tax abatement have not been granted,  or  in
  the  event that a sum equal to the total amount of tax exemption and tax
  abatement granted to the owner has been paid to  the  municipality,  the
  excess,  if  any,  of  surcharges  shall  be paid to the municipality in
  reduction of the loan.

    5. Any person or family whose removal is required by any provision  of
  this article shall be subject to removal by summary proceedings.