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

§ 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.