N.Y. Private Housing Finance Law § 359: Rates and fees

§ 359. Rates and fees. A company shall, with the approval of the

commissioner, fix maximum rates and fees to be charged persons served by

each project for the facilities and services provided by the company to

such persons, the average of such rates and fees for any one project not

to exceed the maximum average rates and fees determined by the

commissioner before any commitments are made by the company for the

construction, acquisition, reconstruction, rehabilitation or improvement

of the project. The commissioner upon his own motion, or upon

application by the company or lienholder may vary the amount of such

rates and fees from time to time so as to secure together with all other

income of the company, sufficient income to meet, within reasonable

limits, all necessary payments by the said company of all expenses,

including fixed charges, sinking funds and reserves.