(2) With regard to any loan made pursuant to this subdivision and notwithstanding the provisions of, or any regulation promulgated pursuant to, the emergency housing rent control law, the local emergency housing rent control act, or local law enacted pursuant thereto, the rent stablization law of nineteen hundred sixty-nine, or the emergency tenant protection act of nineteen seventy-four, the owner of a project otherwise subject to any such law or act, with the approval of the agency, shall establish the initial rent for each dwelling unit within the project. The corporation shall notify occupants of the project, if any, of any such proposed rental establishment and offer to meet at least once with the occupants prior to its approval.

(3) The powers granted by this subdivision may be exercised only if (a) obligations of the corporation have been issued to fund the loan made or purchased by the corporation and such obligations have received an investment grade rating from a recognized rating agency; (b) the loan made or purchased by the corporation is fully secured as to principal and interest by insurance or a commitment to insure by the state of New York mortgage agency or New York city residential mortgage insurance corporation or by the general credit of a bank, national bank, trust company, savings bank, savings and loan association, insurance company, governmental agency of the United States, or any combination thereof; or (c) obligations of the corporation are purchased by a bank, national bank, trust company, savings bank, savings and loan association, insurance company, governmental agency of the United States, or any wholly-owned subsidiary or combination thereof. * NB Repealed July 23, 2021 23-d. To and shall develop, promote and ensure that, where possible, minority groups which traditionally have been disadvantaged, and women are afforded equal opportunity for contracts in connection with development and construction contracts for developments, facilities and projects financed by the issuance of bonds, notes and other obligations of the corporation. 23-e. Subject to the provisions of any contract with noteholders and bondholders, to refinance or acquire mortgage loans made for multiple dwellings by private lenders pursuant to article eight-A or fifteen of this chapter; provided that the corporation shall not be permitted pursuant to this subdivision to acquire a mortgage loan, unless such acquisition is in connection with a refinancing of the property for which such mortgage loan was made. 23-f. To service mortgage loans made by private or governmental lenders for multiple dwellings, provided that each such mortgage loan shall have been made either (i) pursuant to this chapter, or (ii) in conjunction with another mortgage loan made by the city of New York. 23-g. Subject to the provisions of any contract with noteholders and bondholders, to acquire mortgage loans made by the city of New York pursuant to article eight-A of this chapter or section ninety-nine-h or article sixteen of the general municipal law or to acquire a participation interest in such mortgage loans. 23-h. Subject to the provisions of any contract with noteholders and bondholders and relating to the purpose of providing housing accommodations for occupancy by persons and families for whom the ordinary operations of private enterprise cannot provide an adequate supply of safe, sanitary and affordable housing accommodations or for units located in an area designated as blighted pursuant to article fifteen or sixteen of the general municipal law, or as certified by the New York city department of housing preservation and development as being located in an area that is blighted, the corporation is hereby authorized to carry out, by loans or guaranties, the following purposes:

(i) to preserve, repair, renovate, upgrade, improve, modernize, rehabilitate or otherwise prolong the useful life of dwelling accommodations;

(ii) to construct dwelling accommodations and undertake site preparation related thereto;

(iii) to restore abandoned, vacant or occupied city or privately-owned dwelling accommodations to habitable condition;

(iv) to assist in the acquisition of buildings that contain or are expected to contain dwelling accommodations; and

(v) to facilitate the disposition of city-owned buildings that contain or are expected to contain dwelling accommodations. 24. To contract with any of its subsidiary corporations to render such services as such subsidiary corporation may request, including, but not limited to, the use of the premises, personnel and personal property of the corporation, and to provide for reimbursement to the corporation from such subsidiary corporation for any expenses necessarily incurred by the corporation in carrying out the terms of any such contract. 25. To do any and all things necessary or convenient to carry out its purposes and exercise the powers expressly given and granted in this article.