Requires the commissioner of housing and community renewal, or the appropriate supervising agency, to review contracts for $50,000 or more entered into by a limited-profit housing company.
Expands documentation requirements for limited-profit housing companies when providing information to the commissioner of housing of the state of New York and any relevant supervising agency.
Expands the powers of the New York state division of housing and community renewal and supervising agencies and modifies the obligations of certain New York state funded housing providers.
Relates to elections involving board members, by-law amendments, or dissolution, reconstitution or conversion of mutual housing companies; provides that ballots shall be cast electronically to a neutral third party; provides that by-laws approved by shareholders and the commissioner of housing or supervising agency may limit eligibility for being a candidate for board of directors of a mutual housing company; relates to quorum for purposes of an election of board members in certain mutual housing companies.
Relates to elections involving board members, by-law amendments, or dissolution, reconstitution or conversion of mutual housing companies; provides that ballots shall be cast electronically to a neutral third party; provides that by-laws approved by shareholders and the commissioner of housing or supervising agency may limit eligibility for being a candidate for board of directors of a mutual housing company; relates to quorum for purposes of an election of board members in certain mutual housing companies.
Relates to provisions governing contracting between state agencies and not-for-profit organizations including new, renewal, and extension contracts and advance payments and interest for such contracts; repeals provisions relating to interest payments.
Requires that all public housing contracts entered into by the division of housing and community renewal and municipal housing authorities be disclosed on the division of housing and community renewal's website so that such public housing contracts are available to the public.
Prohibits any increase in the average monthly rental of a property by a limited-profit housing company unless the appropriate local housing agency certifies that there exists no recorded violations against such property or that all recorded violations have been cleared, corrected or abated, and that such company is maintaining all essential services required to be furnished.
Requires a procedure for notification of a family member of a tenant or cooperator in the case that their application to succeed a lease or occupancy agreement is denied by a limited-profit housing company.