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This entry was published on 2014-09-22
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SECTION 66
Authorized courses of action
Private Housing Finance (PVH) CHAPTER 44-B, ARTICLE 3-A
§ 66. Authorized courses of action. For each project, the agency will
review and approve or disapprove a final project description containing
the information specified in section sixty-five-a of this article. The
final project description shall include the identity of the project
owner. After consultation with the city and review of responses to
requests for proposals and within the limit of funds available in the
permanent housing for homeless families fund, the agency shall award
such contracts as it deems appropriate to developers in order to provide
one or more projects for which it has approved a final project
description. In proceeding with a project, the agency is authorized to
take such courses of action, including, but not limited to, the
following, as may be necessary or useful in enabling the agency to
accomplish its purposes:

1. The developer may hold title to the project during development,
construction and rehabilitation;

2. In order to facilitate project development, the agency may enter
into a license agreement with the holder of the title to the project;

3. Upon completion of construction or rehabilitation of the project by
a developer who has taken title to the project, title shall be conveyed
in accordance with the approved final project description, or, in the
absence of a not-for-profit corporation or housing development fund
company designated by the city to receive title to the project, title
shall be conveyed to the city.