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2016 New York Laws
PVH - Private Housing Finance
Article 2 - (Private Housing Finance) LIMITED-PROFIT HOUSING COMPANIES
25 - Working capital.

NY Priv Hous Fin L § 25 (2016) What's This?
  25. Working capital. The supervising agency or the commissioner, as
  the case may be, may permit stock or income debentures to be issued  for
  working  capital to be used in connection with such project to an amount
  not exceeding three per centum of the  estimated  project  cost  or  the
  actual project cost, whichever is larger.

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