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This entry was published on 2014-09-22
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SECTION 89
Consolidated projects; operation of more than one project
Private Housing Finance (PVH) CHAPTER 44-B, ARTICLE 4
§ 89. Consolidated projects; operation of more than one project. The
commissioner may permit the consolidation of two or more approved
projects or the extension or amendment of any approved project or the
consolidation of any approved project with a proposed project. In any of
these events, the consolidated project shall be treated as an original
project and an application shall be submitted as in the case of an
original project and rents and costs may be averaged throughout the
consolidated or extended project. The commissioner may likewise permit
any housing company to organize and operate more than one project or to
take over any project heretofore approved by the commissioner and to
operate it independently of other projects of the housing company. The
commissioner may in his discretion decline to permit more than one
project to be operated by the same housing company.