N.Y. Private Housing Finance Law § 403

§ 403. Occupancy. 1. The dwelling units in any existing multiple\ndwelling aided by a loan pursuant to this article shall be available\nsolely for persons or families of low income during the period in which\nany part of such loan remains unpaid, any exemption and abatement from\ntaxation on the property resulting from the installations, alterations\nor improvements made with such loan remains in effect or for a period of\nat least ten years from the occupancy date, whichever is the later.\n 2. In the event that after any person or family included within the\nprovisions of paragraph a of subdivision three of section four hundred\none of this article, but not included within the provisions of paragraph\nb of such subdivision three, begins occupancy of any dwelling unit in\nany multiple dwelling aided by a loan pursuant to this article, and\nduring the period while such dwelling unit is subject to a maximum rent\nprescribed pursuant to this article, the income of such person or family\nincreases so as to exceed the applicable maximum prescribed by such\nparagraph a by more than fifty per centum, such person shall be subject\nto removal from such dwelling with the approval of the agency.\n 3. a. In the event that on the date on which a contract for a loan is\nmade with respect to a multiple dwelling aided by a loan pursuant to\nthis article, any person or family occupying a dwelling unit in such\nmultiple dwelling and included within the provisions of paragraph b of\nsubdivision three of section four hundred one of this article, has a\nprobable aggregate annual income, as determined in accordance with the\nprovisions of paragraph a of such subdivision three, which exceeds the\nincome limits specified in such paragraph a by more than fifty per cent,\nsuch person or family shall be subject to removal from such dwelling\nunit with the approval of the agency upon the expiration of a period of\ntwo years after the date on which such contract is entered into.\n b. In the event that at any time within a period of two years after\nany such contract is entered into, the income of any such person or\nfamily increases so as to exceed the income limits specified in such\nparagraph a by more than fifty per cent, such person or family shall be\nsubject to removal from such dwelling unit with the approval of the\nagency upon the expiration of such period of two years.\n c. If, at any time subsequent to the expiration of a period of two\nyears after any such contract is entered into, and during the period\nwhile the dwelling unit occupied by any such person or family is subject\nto a maximum rent prescribed pursuant to this article, the income of\nsuch person or family increases so as to exceed the income limits\nspecified in such paragraph a by more than fifty per cent, such person\nor family shall be subject to removal from such dwelling unit with the\napproval of the agency.\n 4. Any person or family in occupancy, whether included within the\nprovisions of paragraph a or paragraph b of subdivision three of section\nfour hundred one of this article, whose income exceeds the maximum\nprescribed by the provisions of such paragraph a with respect to the\ntime of beginning of occupancy, shall pay a rental surcharge in\naccordance with a schedule of surcharges to be promulgated by the\nagency. Rental surcharges collected pursuant to this section shall be\npaid by the owner to the municipality which has granted such owner tax\nexemption or tax abatement pursuant to any law authorizing the granting\nof same, as reimbursement to such municipality therefor. In the event\nthat such tax exemption and tax abatement have not been granted, or in\nthe event that a sum equal to the total amount of tax exemption and tax\nabatement granted to the owner has been paid to the municipality, the\nexcess, if any, of surcharges shall be paid to the municipality in\nreduction of the loan.\n 5. Any person or family whose removal is required by any provision of\nthis article shall be subject to removal by summary proceedings.\n