New York Private Housing Finance Law
Legislative Findings and Statement of Policy
The legislature hereby finds and declares that there exists in many portions of the rural areas of the state substantial needs for revitalization and improvement of housing and of local commercial and service facilities, and for related community renewal activities. The findings set forth in article seventeen of this chapter, with respect to the special needs and problems of such areas and the significant potential role of locally based not-for-profit organizations in helping to meet such needs, are hereby reaffirmed. The legislature hereby determines that, in addition to the program of state support to help meet the administrative expenses of such organizations under article seventeen, a further public need exists for state funding of a portion of the costs of specific revitalization projects carried out by such groups and similar local organizations. It is the purpose of this article to encourage community preservation and improvement in the rural area of the state by establishing a program of such funding.