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.