N.Y. Private Housing Finance Law Section 1106
Legislative findings and declarations

The legislature hereby finds and declares that there is a serious shortage of decent affordable housing in the state for persons of low income; that the cost of providing such housing without public participation and assistance is prohibitively high; that programs operated by municipal housing authorities and municipalities have for decades provided hundreds of thousands of low income New Yorkers with decent, safe and affordable housing; that due to the lack of funds available for leveraging state dollars for low income housing, and the delay that occurs when a variety of funding sources are used to produce such housing, a need exists for the state to fully finance debt free low income housing. The legislature therefore finds that a program should be established pursuant to which the housing trust fund corporation shall provide grants or loans to municipal housing authorities, municipalities and not-for-profit organizations or charitable organizations, housing development fund companies, or private developers which shall be used to pay for all or a portion of the project costs of constructing or rehabilitating turnkey/enhanced rental projects, and that such projects shall thereafter be owned by eligible owners for the benefit of persons of low income. The legislature intends that grants or loans provided to municipal housing authorities, or municipalities through the low income turnkey/enhanced housing trust fund program shall not substitute for funds which such authorities or municipalities would have spent in the absence of such program, and that authorities and municipalities shall use such grants or loans to increase the supply of low income housing to levels greater than would have been possible without such program.

Source: Section 1106 — Legislative findings and declarations, https://www.nysenate.gov/legislation/laws/PVH/1106 (updated Sep. 22, 2014; accessed Jul. 26, 2025).

1106
Legislative findings and declarations 1106–A
Definitions 1106–B
Low income turnkey/enhanced housing trust fund program established 1106–C
Request for proposals 1106–D
Selection of eligible applicants for grants or loans under this article 1106–E
Reserve fund 1106–F
Project operation and management 1106–G
Adjustment of rents 1106–H
Real property tax exemption 1106–I
General and administrative provisions of this article 1106–J
Liability on obligations

Up to date

Verified:
Jul. 26, 2025

Last modified:
Sep. 22, 2014

§ 1106. Legislative findings & declarations's source at nysenate.gov

Link Style

Stay Connected

Join thousands of people who receive monthly site updates.

Get Legal Help

The New York State Bar Association runs a service for finding an attorney in good standing. Initial consultations are usually free or discounted: Lawyer Referral Service

Committed to Public Service

We will always provide free access to the current law. In addition, we provide special support for non-profit, educational, and government users. Through social entrepreneurship, we’re lowering the cost of legal services and increasing citizen access.

Navigate

California:	Codes
Colorado:	C.R.S.
Nevada:	NRS
New York:	Laws
Oregon:	OAR, ORS
Texas:	Statutes
World:	Rome Statute, International Dictionary

Location: https://newyork.public.law/laws/n.y._private_housing_finance_law_section_1106

Original Source: Section 1106 — Legislative findings and declarations, https://www.nysenate.gov/legislation/laws/PVH/1106 (last accessed Jul. 26, 2025).

N.Y. Private Housing Finance Law Section 1106 Legislative findings and declarations

N.Y. Private Housing Finance Law Section 1106
Legislative findings and declarations