N.Y. Private Housing Finance Law § 251

§ 251. Policy and purposes of article. It is the policy of the state\nto promote the reconstruction and redevelopment of municipal urban\nrenewal areas in a manner that will serve the civic, cultural and\nrecreational needs of the community as a whole. There is need for local\nnon-profit corporations to construct, with mortgage loan participation\nby the New York state housing finance agency and in furtherance of an\nurban renewal plan, civic, cultural and recreational structures and\nfacilities and other capital development projects invested with a public\ninterest, for the accomplishment of the purposes of article eighteen of\nthe constitution and articles fifteen and fifteen-A of the general\nmunicipal law.\n