N.Y. Private Housing Finance Law § 475
Interest reduction subsidies
Redline — January 1, 2015 → current.View current text →
Current — January 1, 2024
As of January 1, 2015
§ 475. Interest reduction subsidies. Notwithstanding the provisions of\nany general, special or local law, a municipality, acting through an\nagency, is authorized to provide, or contract to provide, interest\nreduction subsidies for loans made by private investors to low and\nmoderate income owner-occupants of one to four unit existing private or\nmultiple dwellings within its territorial limits, if such\nowner-occupants would have been eligible under the provisions of this\narticle for a loan made by the municipality pursuant to this article.\n
§ 475. Interest reduction subsidies. Notwithstanding the provisions of\nany general, special or local law, a municipality, acting through an\nagency, is authorized to provide, or contract to provide, interest\nreduction subsidies for loans made by private investors to owners of one\nto four unit existing private or multiple dwellings within its\nterritorial limits, if such owners would have been eligible under the\nprovisions of this article for a loan made by the municipality pursuant\nto this article.\n
Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.