New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter XXXV - New York State Housing Finance Agency
Subchapter B - Affordable Home Ownership Development Program
Part 2162 - Grants
Section 2162.2 - Eligible costs
Universal Citation: 21 NY Comp Codes Rules and Regs ยง 2162.2
Current through Register Vol. 46, No. 39, September 25, 2024
Grant funds may be used only for the construction, rehabilitation or improvement of one- to four-family dwellings, including cooperatives and condominiums, which are or will be owner-occupied. Grant funds may be used for the acquisition of property only as part of projects and programs for the construction or rehabilitation of homes. Grant funds that do not exceed ten percent of the Total Development Cost may be used for administrative or operating expenses, including expenses related to the organization, operating support and administration of the project.
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