N.Y. Private Housing Finance Law § 571: Statement of legislative findings and purposes

§ 571. Statement of legislative findings and purposes. The legislature

hereby finds and declares that there continues to exist in the state a

seriously inadequate supply of safe and sanitary dwelling accommodations

within the financial reach of families and persons of low income. This

condition is contrary to the public interest and threatens the health,

safety, welfare, comfort and security of the people of the state.

The legislature further finds and declares that the ordinary

operations of private enterprise cannot provide an adequate supply of

safe and sanitary dwelling accommodations at rentals which families and

persons of low income can afford.

The legislature further finds that eleemosynary institutions,

settlement houses, fraternal and labor organizations, foundations and

other non-profit associations are desirous of organizing companies to

build or rehabilitate housing for low income families; that in order for

such organizations to build or rehabilitate housing, such organizations

need and can effectively utilize development funds to procure government

aided or other permanent financing therefor.

The legislature further finds that such development funds and the

provision of technical assistance in the organization and management of

housing development fund companies will maximize federal funds and

credits which may be available for the provision of housing for low

income residents of the state.

It is the purpose of this act to provide temporary financial and

technical assistance to enable such companies to participate more

effectively in existing municipal, state and federal assistance programs

and to make more effective use of other sources of financing which may

be available for housing of persons and families of low income.

It is further the purpose of this article to coordinate activities

aided under existing municipal, state and federal programs with other

public and private actions in order to provide the most effective and

economical concentration of federal, state, local, and private efforts

to increase the supply of housing accommodations for persons of low

income, and thereby improve the quality of life for all the people of

the state.

It is further the purpose of this article to provide assistance for

existing not-for-profit housing companies by providing advances from the

housing development fund to facilitate the rehabilitation or

construction of housing for low income families.

It is further the purpose of this article to provide assistance for

the improvement of housing for farmworkers by providing advances to

local loan administrators to make loans to agricultural producers for

the purpose of constructing or improving non-conforming farmworker

housing in order to comply with state regulations relating to such

housing.