N.Y. PVH Law § 65-C

§ 65-c. Approval of funding agreement; issuance of requests for\nproposals. The city's funds for such projects shall be provided as\npayments, grants or loans pursuant to a funding agreement or agreements\nwith the agency. Any such agreement shall include the amount of funding\nto be provided by the city, the manner in which the city will make the\nfunds available to the agency or the agency's designee, and a\ndescription of the projects and project sites, and shall be subject to\nthe approval of the mayor and the local legislative body of the city.\nNotwithstanding any inconsistent provisions of law, general, special or\nlocal, or charter, the mayor and the local legislative body shall take\naction to approve or disapprove such agreement within sixty days of its\nsubmission, provided, however, that if the mayor fails to approve or\ndisapprove the agreement during such period the mayor shall be deemed to\nhave approved the agreement and provided further that if the local\nlegislative body fails to approve or disapprove such agreement during\nsuch period the local legislative body shall be deemed to have approved\nthe agreement. In the case of a project for which a not-for-profit\ncorporation, housing development fund company or limited profit entity\nhas provided sites with the city's approval, approval by the mayor and\nthe local legislative body shall not be required under this section\nwhere such project has already received approval from the mayor and the\nlocal legislative body. Upon approval by the mayor and the local\nlegislative body of such agreement, and upon satisfaction of such other\nconditions as the agency may establish, including but not limited to,\nsatisfactory assurances from the city that projects on approved sites\nwill receive expedited reviews by city departments and agencies having\njurisdiction over the project, the agency is authorized to issue one or\nmore requests for proposals to developers who shall be not-for-profit\norganizations or persons, partnerships, corporations or other entities\nthat will agree to limit their profits or rate of return of investors in\naccordance with a formula established or approved by the agency with\nrespect to the project, for the development, design, construction, or\nrehabilitation of permanent housing projects for eligible homeless\nfamilies. Approval of an agreement by the mayor and the local\nlegislative body pursuant to this section shall not itself require\ncompliance with any local land use review procedure, nor shall it\nconstitute an action for purposes of article eight of the environmental\nconservation law, provided, however, that this section shall not grant\nany exemption from such procedures or laws if otherwise applicable.\nNotwithstanding the provisions of article one-A of the public\nauthorities law, contracts entered into by the agency pursuant to this\narticle shall not be subject to the provisions of article one-A of the\npublic authorities law.\n