N.Y. Private Housing Finance Law § 251: Policy and purposes of article

§ 251. Policy and purposes of article. It is the policy of the state

to promote the reconstruction and redevelopment of municipal urban

renewal areas in a manner that will serve the civic, cultural and

recreational needs of the community as a whole. There is need for local

non-profit corporations to construct, with mortgage loan participation

by the New York state housing finance agency and in furtherance of an

urban renewal plan, civic, cultural and recreational structures and

facilities and other capital development projects invested with a public

interest, for the accomplishment of the purposes of article eighteen of

the constitution and articles fifteen and fifteen-A of the general

municipal law.