S T A T E O F N E W Y O R K
________________________________________________________________________
4945
2009-2010 Regular Sessions
I N A S S E M B L Y
February 10, 2009
___________
Introduced by M. of A. V. LOPEZ, CYMBROWITZ -- read once and referred to
the Committee on Housing
AN ACT to amend the private housing finance law, in relation to
contracts with not-for-profit housing corporations for housing preser-
vation and community renewal activities
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision 4 of section 903 of the private housing finance
law, as amended by section 1 of part II of chapter 59 of the laws of
2008, is amended to read as follows:
4. Contracts entered into hereunder with neighborhood preservation
companies shall be limited in duration to periods of one year, but may
thereafter be renewed, extended or succeeded by new contracts from year
to year in the discretion of the commissioner; they shall be limited in
amount to the sum of one hundred thousand dollars in a single year [and
to the aggregate sum of two million one hundred four thousand five
hundred dollars for a single neighborhood preservation company, provided
that in any year in which the aggregate sum of three hundred thousand
dollars shall have been reached and all succeeding years, the annual
contract amount shall be subject to a limit of ninety-seven thousand
five hundred dollars per year]; they shall define with particularity the
neighborhood or portion thereof within which the neighborhood preserva-
tion activities shall be performed; they shall specify the nature of the
neighborhood preservation activities which shall be performed including
the approximate number of buildings, residential dwelling units and
local retail and service establishments which shall be affected; they
shall locate and describe, with as much particularity as is reasonably
possible, the buildings with respect to which such activities shall be
performed during the contract term; and they shall specify the number of
persons, salaries or rates of compensation and a description of duties
of those who shall be engaged by the neighborhood preservation company
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08718-01-9
A. 4945 2
to perform the activities embraced by the contract together with a sche-
dule of other anticipated expenses.
S 2. Subdivision 4 of section 1003 of the private housing finance law,
as amended by section 2 of part II of chapter 59 of the laws of 2008, is
amended to read as follows:
4. Contracts pursuant to this section shall be for a period of no more
than one year, but may be renewed or extended from year to year, and
shall provide for payment by the division of no more than one hundred
thousand dollars per year [and shall be limited to the aggregate sum of
two million one hundred four thousand five hundred dollars for a single
corporation, provided that in any year in which the aggregate sum of
three hundred thousand dollars shall have been reached and all succeed-
ing years, the annual contract amount shall be subject to a limit of
ninety-seven thousand five hundred dollars per year]; they shall define
with particularity the region or portion thereof within which the hous-
ing preservation and community renewal activities shall be performed;
they shall specify the nature of the housing preservation and community
renewal activities which shall be performed including the approximate
number of buildings, residential dwelling units and local retail and
service establishments which shall be affected; they shall locate and
describe, with as much particularity as is reasonably possible, the
buildings with respect to which such activities shall be performed
during the contract term; and they shall specify the number of persons,
salaries or rates of compensation and a description of duties of those
who shall be engaged by the corporation to perform the activities
embraced by the contract together with a schedule of other anticipated
expenses.
S 3. This act shall take effect immediately.