N.Y. Private Housing Finance Law 1106-B – Low income turnkey/enhanced housing trust fund program established
§ 1106-b. Low income turnkey/enhanced housing trust fund program established. There is hereby established within the housing trust fund corporation a low income turnkey/enhanced housing trust fund program. Within the limit of funds available for this purpose in the turnkey/enhanced housing account, the corporation is hereby authorized to enter into contracts to provide grants or loans to eligible applicants for all or a portion of turnkey/enhanced rental project costs to construct or rehabilitate turnkey/enhanced rental projects subject to the terms and conditions of this article. Upon completion of construction or rehabilitation of a turnkey/enhanced rental project, an eligible applicant may, where appropriate, transfer such project to an eligible owner.
Terms Used In N.Y. Private Housing Finance Law 1106-B
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.