Title 9 Part 1700

These rules and regulations relate to the initiation, development and operation of limited profit and limited dividend housing companies organized under articles 2 and 4 of the Private Housing Finance Law and which are subject to the supervision of the Commissioner of Housing and Community Renewal of the State of New York. These rules and regulations also relate to the limited supervision given to the Commissioner of Housing and Community Renewal over limited profit housing companies which are supervised by municipalities.

If any clause, sentence, paragraph, section or Part of these rules and regulations shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its operation to the clause, sentence, paragraph, section or Part thereof directly involved in the controversy in which such judgment shall have been rendered.

Unless the division directs otherwise, proceedings commenced prior to any revisions to this Chapter be continued under the regulations under which they were commenced.

The requirements of this Chapter may be waived if, in the opinion of the commissioner, their application may be shown to effect undue hardship or the waiver of such requirements of the use of alternative procedures are appropriate to the interests of the housing company, the public, the lien holders, the cooperators, or the tenants.

The division may modify supervision of a company upon finding that duplicative supervisory functions may impose an undue regulatory burden or unnecessary expenditure of agency resources, by taking such actions as are deemed appropriate, including consolidating supervisory functions associated with different programs, and entering into memoranda of understanding with other agencies for the allocation of supervisory functions.

In issuing orders under these regulations, the division may take into consideration all factors bearing upon the equities involved, with due regard for preservation of the subject housing, the rights of the tenants and the public interest.

The division, on application of either party, or on its own initiative, and upon notice to all parties affected, my issue a superseding determination modifying or revoking any determination issued by it under these regulations where the division finds that such determination was the result of illegality, irregularity in vital matters or fraud.

Pursuant to section 602 of the Private Housing Finance Law, in addition to any and all applicable Federal, State and local fair housing and non-discrimination laws and regulations, no person shall, because of race, creed, color or national origin, or any protected classification under such law or regulations, be subjected to any discrimination by any limited profit or limited dividend housing company or the private sponsor of such company. The term discrimination shall be deemed to include segregation or separation.