N.Y. Private Housing Finance Law § 1220: Statement of legislative findings and purpose

§ 1220. Statement of legislative findings and purpose. The legislature

hereby finds and declares that there exists in New York state a serious

need for financial and technical resources to help communities with

their efforts to preserve and revitalize main street and downtown

business districts which include commercial and residential uses. The

legislature therefore finds that a program should be established to

provide financial assistance to stimulate reinvestment in properties

located within main street, mixed-use commercial, and downtown business

districts in urban, small town, and rural areas by preserving existing

housing units, fostering the development of new housing units, upgrading

commercial and retail areas, and by creating innovative approaches to

neighborhood and community revitalization, including the improvement of

cultural, civic and community facilities.