N.Y. PVH Law § 66

§ 66. Authorized courses of action. For each project, the agency will\nreview and approve or disapprove a final project description containing\nthe information specified in section sixty-five-a of this article. The\nfinal project description shall include the identity of the project\nowner. After consultation with the city and review of responses to\nrequests for proposals and within the limit of funds available in the\npermanent housing for homeless families fund, the agency shall award\nsuch contracts as it deems appropriate to developers in order to provide\none or more projects for which it has approved a final project\ndescription. In proceeding with a project, the agency is authorized to\ntake such courses of action, including, but not limited to, the\nfollowing, as may be necessary or useful in enabling the agency to\naccomplish its purposes:\n 1. The developer may hold title to the project during development,\nconstruction and rehabilitation;\n 2. In order to facilitate project development, the agency may enter\ninto a license agreement with the holder of the title to the project;\n 3. Upon completion of construction or rehabilitation of the project by\na developer who has taken title to the project, title shall be conveyed\nin accordance with the approved final project description, or, in the\nabsence of a not-for-profit corporation or housing development fund\ncompany designated by the city to receive title to the project, title\nshall be conveyed to the city.\n