N.Y. PVH Law § 112-A
This is the official text of N.Y. PVH Law § 112-A, part of New York’s PVH Law — part of the compiled statutory law of New York, published by the state as "PVH Law." Browse the sections below, each linked to its official government source.
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Redevelopment loans
Official statutory text
§ 112-a. Redevelopment loans. Notwithstanding any provision of section\none hundred eleven or one hundred twelve of this article to the\ncontrary, where a redevelopment company undergoes a comprehensive\nredevelopment plan, the supervising agency may approve a loan and\nencumbrance of such project in an amount in excess of actual cost of the\nproject, provided that such amount represents cost of capital\nimprovements, redevelopment, or acquisition by a new owner, any\nconsequent rent increase is not unduly burdensome to the tenants, and\nthe redevelopment company enters into an agreement to remain subject to\nthe provisions of this article for a period of no less than fifteen\nyears from issuance of the loan and encumbrance.\n
Status: in_force · Read it on the official government site
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