N.Y. Private Housing Finance Law Section 475
Interest reduction subsidies

Notwithstanding the provisions of any general, special or local law, a municipality, acting through an agency, is authorized to provide, or contract to provide, interest reduction subsidies for loans made by private investors to owners of one to four unit existing private or multiple dwellings within its territorial limits, if such owners would have been eligible under the provisions of this article for a loan made by the municipality pursuant to this article.

Source: Section 475 — Interest reduction subsidies, https://www.­nysenate.­gov/legislation/laws/PVH/475 (updated Oct. 27, 2023; accessed Jul. 26, 2025).

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Verified:
Jul. 26, 2025

Last modified:
Oct. 27, 2023

§ 475. Interest reduction subsidies's source at nysenate​.gov

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