N.Y. Public Housing Law § 154

§ 154. Control of rentals on authority projects. Subject to the terms\nof any loan or subsidy contract with a government, the power to fix\nrents on a project shall rest exclusively with the authority. But\nnothing in this chapter shall prevent an authority or municipality from\nestablishing, in addition to all other operation and depreciation\nreserve funds, a reserve fund, or funds which may be applied in aid of\nthe construction, operation or maintenance of other projects of such\nauthority or municipality.\n