Housing Committee

A limited-profit housing company duly incorporated pursuant to the provisions of this article, or a company incorporated pursuant to the not-for-profit corporation law and this article for the purpose of providing housing and auxiliary facilities for staff members, employees or students of a college, university, hospital or child care institution and their immediate families or for aged or handicapped persons of low income, pursuant to this article, or a municipally-aided non-profit company as hereinafter defined, or a low income non-profit housing company as hereinafter defined.

A non-profit housing company duly incorporated pursuant to the not-for-profit corporation law and this article, which is aided by a municipal mortgage loan, a loan by the New York city housing development corporation or tax exemption or both and is not aided by any state mortgage loan or any mortgage loan by the New York state housing finance agency or a mortgage loan insured by the federal government made for the purpose of refinancing a mortgage loan other than a municipal mortgage loan or a mortgage loan made by the New York city housing development corporation.

A non-profit housing company duly incorporated pursuant to the not-for-profit corporation law and this article, whose principal purpose is to provide housing for persons of low income and families of low income and which is aided by a state mortgage loan or mortgage loan by the New York state housing finance agency or a municipal mortgage loan or municipal tax exemption, or both, or a mortgage loan insured by the federal government.

"A company whose dwelling facilities, to the extent of at least eighty per centum, are occupied by persons or families who are entitled to such occupancy by reason of ownershipof shares in such company."

Articles II and IV of the PHFL

Limited Income Housing Companies

Limited Dividend Housing Companies

Regulations governing state-supervised M-L housing are found at 9 NYCRR part 1700 et seq.

Regulations governing city-supervised M-L housing are found at Rules of the City of New York ("RCNY"), vol 10, title 28, chapter 3.

§ 45-b. Affordable housing corporation. 1. There is hereby established a public benefit corporation known as the “affordable housing corporation” as a subsidiary corporation of the agency.2. The agency may transfer to such subsidiary corporation any real, personal or mixed property in order to carry out the purposes of article nineteen of this chapter. Such subsidiary corporation shall have all the privileges, immunities, tax exemption and other exemptions of the agency to the extent the same are not inconsistent with this section.3. The membership of such subsidiary corporation shall consist of the members of the agency, as may be constituted from time to time. The chairperson of the agency shall serve as chairperson of the corporation. The powers of the corporation shall be vested in and excercised by no less than four of the members thereof then in office. The corporation may delegate to one or more of its members, or its officers, agents and employees, such duties and powers as it may deem proper.3-a. The commissioner of housing and community renewal, the director of the budget and the commissioner of taxation and finance each may appoint a person from their respective division or department to represent such member, respectively, at all meetings of the corporation from which such member may be absent. Any such representative so designated shall have the power to attend and to vote at any meeting of the corporation from which the member so designating him as a representative is absent with the same force and effect as if the member designating him were present and voting. Such designation shall be by written notice filed with the chairman of the corporation by each of the said members. The designation of such persons shall continue until revoked at any time by written notice to the chairman by the respective member making the designation. Such designation shall not be deemed to limit the power of the appointing member to attend and vote at any meeting of the corporation.4. No officer or member of the corporation shall receive any additional compensation, either direct or indirect, other than reimbursement for actual and necessary expenses incurred in theperformance of his duties, by reason of his serving as a member, director, or trustee of such subsidiary corporation.5. Notwithstanding any inconsistent provisions of law, general, special or local, no officer or employee of the state, or of any civil division thereof, or any public benefit corporation, shall be deemed to have forfeited or shall forfeit his office or employment by reason of his acceptance of membership on the corporation created by this section.6. The fiscal year of such subsidiary corporation shall begin with the first day of April of each year and end with the next following thirty-first day of March.7. The corporation shall have the power to:(a) Sue and be sued;(b) Have a seal and alter the same at pleasure;(c) Make and alter by-laws for its organization and internal management and make rules and regulations governing the use of its property and facilities;(d) Make and execute contracts and all other instruments necessary or convenient for the exercise of its powers and functions under this chapter;(e) Acquire, hold and dispose of real or personal property for its corporate purposes;(f) Engage the services of private consultants on a contract basis for rendering professional and technical assistance advice;(g) Procure insurance against any loss in connection with its activities, properties and other assets, in such amount and from such insurers as it deems desirable; and(h) Invest any funds of the corporation, or any other monies under its custody and control not required for immediate use or disbursement, at the discretion of the corporation, in obligations of the state or the United States government or obligations the principal and interest of which are guaranteed by the state or the United States government, or in any other obligations in which the comptroller of the state is authorized to invest pursuant to section ninety-eight of the state finance law.8. The corporation may do any and all things necessary or convenient to carry out and exercise the powers given and granted by this section and article nineteen of this chapter including, but not limited to contracting with the commissioner of the division of housing and community renewal to administer any of the provisions of article nineteen of this chapter.9. The agency and all other state officers, departments, boards, divisions, commissions, public authorities and public benefit corporations may render such services to the corporation within their respective functions as may be requested by the corporation.10. Notwithstanding the provisions of article one-A of the public authorities law, contracts entered into by the corporation pursuant to article nineteen of this chapter shall not be subject to the provisions of article one-A of the public authorities law.

S. 45(b) PHFL

Article 19 of the PHFL

The Program has two primary goals:# To promote home ownership among families of low and moderate income for whom there are few affordable home ownership alternatives in the private marketTo stimulate the development, stabilization and preservation of New York communities.

Grants are not made directly to individual homebuyers or homeowners, but to government and non-government sponsors (Grantees) that develop affordable housing or assist homeowners in funding necessary repairs. These Grantees are responsible, in turn, for ensuring that the homebuyers or homeowners are income qualified and otherwise eligible recipients of funds under the Program.Eligible applicants include the following:Municipalities, including municipal housing authorities and housing development fund companies, andNot-for-profit corporations and charitable organizations that have affordable housing or home improvement as one of their primary purposes.If you are a single-family home builder and wish to get involved with AHC projects, you may merge your efforts with an eligible applicant or current Grantee.

Grants are available for up to $35,000 per unit or $40,000 per unit in designated high cost areas or projects receiving United States Department of Agriculture Rural Development Service loans. To determine whether or not a county has been designated as a “high cost area”, please see the High Cost Area Table, at

Grants are given to projects servicing individuals or families who generally earn between 100% and 166% of the HUD Low Income Limits. To see the applicable HUD Low Income Limits at 100%, 112%, 137%, and 166% please click here. For full details on grant amounts and tiered income limits, look at AHC’s Requests for Proposals.

The AHC is a subsidiary of the State Housing Finance Agency formed to implement the Affordable Home Program of PHFL Article 19. PHFL Article 18 also gives the AHCorp. purview over the Low Income Housing Trust Fund. From NYHomes.org: "AHC creates homeownership opportunities for low- and moderate-income families by providing grants to governmental, not-for-profit and charitable organizations to help subsidize the cost of newly constructed houses and the renovation of existing housing."

PHFL Section 45-b

The corporation may do any and all things necessary or convenient to carry out and exercise the powers given and granted by this section and title one of article two-A of the social services law including, but not limited to contracting with the commissioner of social services to administer any of the provisions of title one of article two-A of the social services law.

PHFL Section 45-a

PHFL Article 18

PHFL Article 18-A

The corporation may do any and all things necessary or convenient to carry out and exercise the powers given and granted by this sectionand article eighteen of this chapter including, but not limited to contracting with the commissioner of the division of housing andcommunity renewal to administer any of the provisions of the special needs housing act of 1988 and articles eighteen and eighteen-A of this chapter.

§ 902(4). "Neighborhood preservation company" shall mean a corporation organized under the provisions of the not-for-profit corporation law which has been engaged primarily in one or more of the neighborhoodpreservation activities specified in subdivision five of this section.

“Neighborhood preservation activities” shall mean activities engaged in by a neighborhood preservation company within a geographically defined neighborhood of a municipality designed (a) to construct, maintain, preserve, repair, renovate, upgrade, improve, modernize, rehabilitate or otherwise prolong the useful life and to manage and coordinate the rehabilitation of residential dwellingaccommodations within such neighborhood, to restore abandoned and vacant as well as occupied housing accommodations to habitable condition; to demolish structurally unsound or unsafe or otherwise unsightly or unhealthy structures which no longer serve or can economically be made to serve a useful purpose consistent with stabilizing or improving a neighborhood; to seal and maintain vacant but structurally soundstructures which are capable of being rehabilitated at a future time and used for housing purposes; to acquire, where appropriate, buildings which contain housing accommodations; to facilitate the disposition of buildings containing housing accommodations to individual occupantsthereof or to cooperative groups whose members shall be occupants thereof; to assist owners, occupants and tenants of housing accommodations to obtain improvements in the physical conditions thereof and in the maintenance and management thereof; and to manage housing accommodations as agents for the owners thereof or administrators orreceivers appointed or designated pursuant to any law of the state; and(b) to accomplish similar purposes and meet similar needs with respect to retail and service establishments within such neighborhoods when carried out in connection with and incidental to a program of housingrelated activities.

§ 902(6). "Persons of low income" shall mean individuals and families whose annual incomes do not exceed ninety per cent of the median annual income for all residents of the municipality within which they reside.

§ 903. Contracts with neighborhood preservation companies. 1. The commissioner may enter into contracts with neighborhood preservation companies for the performance of neighborhood preservation activities. Such contracts shall be entered into, however, only after appropriate findings by the commissioner and shall be subject to the limitations hereinafter set forth.

Public Housing Law Section 10

PHL Section 11

Public Housing Law Article 11

Severlely phsically handicapped, legally blind, or mute can have pet.

Article 7-C of the MDL, "Legalization of Interim Multiple Dwellings".

Article 7-C of the MDL, "Legalization of Interim Multiple Dwellings".

New York City & "Certain Other Municipalities"

Apartments completed before January 1, 1974.