N.Y. PBG Law § 121
This is the official text of N.Y. PBG Law § 121, part of New York’s PBG Law — part of the compiled statutory law of New York, published by the state as "PBG Law." Browse the sections below, each linked to its official government source.
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Acquisition after project approved
Official statutory text
§ 121. Acquisition after project approved. When a project has been\napproved, an authority may purchase, lease or condemn, or obligate\nitself to purchase, lease or condemn, real property for a project.\nNotwithstanding any other provisions of and in addition to any other\npowers granted under this chapter, where all the dwelling units in a\nbuilding have been leased by an authority for occupancy by persons or\nfamilies of low income in accordance with the provisions of section\ntwenty-three of the United States housing act of nineteen hundred\nthirty-seven, as amended, the prior approval by the local legislative\nbody of such leasing program shall constitute all necessary approvals\nunder this chapter for an authority to exercise an option to purchase\nsuch real property.\n
Status: in_force · Read it on the official government site
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