N.Y. Private Housing Finance Law § 1220

§ 1220. Statement of legislative findings and purpose. The legislature\nhereby finds and declares that there exists in New York state a serious\nneed for financial and technical resources to help communities with\ntheir efforts to preserve and revitalize main street and downtown\nbusiness districts which include commercial and residential uses. The\nlegislature therefore finds that a program should be established to\nprovide financial assistance to stimulate reinvestment in properties\nlocated within main street, mixed-use commercial, and downtown business\ndistricts in urban, small town, and rural areas by preserving existing\nhousing units, fostering the development of new housing units, upgrading\ncommercial and retail areas, and by creating innovative approaches to\nneighborhood and community revitalization, including the improvement of\ncultural, civic and community facilities.\n