N.Y. Private Housing Finance Law Section 1120
Statement of legislative intent

The legislature hereby finds and declares that the shortage of decent affordable housing for persons of low and moderate income remains significant and must be addressed in new and innovative ways; that a particular housing problem exists for homeowners residing in manufactured home parks, wherein there is the potential for serious dislocation of families and loss of equity through the sale of manufactured home parks to interests not conducive to continuation of park settings for these manufactured homes; that manufactured home park residents frequently lack the resources to purchase new homes or move existing homes; that an innovative and cost effective solution to the problem of dislocation of manufactured home park families is the formation of park cooperatives in which the manufactured home park is owned cooperatively by the manufactured home owners who reside therein; that a significant public purpose may be served by assisting these homeowners in the formation of manufactured home park cooperatives, such purpose being a reduction in the cost of safe and sanitary housing for persons of low and moderate income; that manufactured home park cooperatives should be assisted through public support for infrastructure improvements; that it is the policy of the state to create such housing cooperative opportunities and to provide for the aid, care, and support of the needy in a manner that encourages self-sufficiency and self-determination. The legislature therefore finds that a program should be established to provide monies for land acquisition by manufactured home park cooperatives and for improvements to the infrastructures of such manufactured home parks.

Source: Section 1120 — Statement of legislative intent, https://www.­nysenate.­gov/legislation/laws/PVH/1120 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

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Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 1120’s source at nysenate​.gov

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