Increases the amount of funds that may be used per dwelling unit to modernize certain authorities used by the housing trust fund corporation.
New York A08589 amends the private housing finance law to increase the amount of funds that may be used per dwelling unit to modernize certain authorities used by the housing trust fund corporation. The bill allows the corporation to enter into contracts with eligible applicants for the furnishing of housing for persons of low income. It specifies that payments, grants, and loans shall be used for the actual and necessary cost of acquisition, construction, rehabilitation, or conversion, with certain restrictions on their use.
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