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This entry was published on 2014-09-22
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SECTION 1025
Administrative provisions
Private Housing Finance (PVH) CHAPTER 44-B, ARTICLE 17-A
§ 1025. Administrative provisions. 1. The commissioner shall provide,
by regulations, for the administration of the provisions of this
article. Such regulations shall include, but need not be limited to,
provisions for operation of the project by the sponsor in a manner
consistent with the intent of this article.

2. Every contract entered into pursuant to this article shall obligate
the sponsor not to charge or collect from any tenant of a unit covered
by such contract a rent higher than the tenant rent payment established
pursuant to section one thousand twenty-four of this article.

3. Rental assistance payments pursuant to this article may be pledged
by the sponsor in connection with the financing or refinancing of a
project, subject to any conditions prescribed in the housing assistance
contract, but no such pledge shall create any obligation or liability on
the part of the state or any agency or instrumentality thereof other
than that prescribed in the contract.

4. Nothing in this article shall prevent any sponsor from seeking or
accepting any other form of governmental subsidy or assistance, but any
contract pursuant to this article shall provide for appropriate
adjustments in the rental assistance payments to reflect such other
subsidy or assistance.