44-A - Low Rent Dwelling Accommodations.

NY Priv Hous Fin L § 44-A (2019) (N/A)
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(b) A housing assistance payment pursuant to this subdivision may be made only with respect to occupants of a dwelling in a project who would be eligible for a sublease under the provisions of this section.

(c) Tenants receiving housing assistance payments shall pay a rent to the company equal to the rent they would pay under a sublease pursuant to this section. Housing assistance payments equal to the difference between such rent and the rental fixed for the dwelling pursuant to section thirty-one of this chapter shall be made by or on behalf of the agency to the company.

(d) The agency and the division of housing and community renewal may make such regulations, not inconsistent with the provisions of this section, and enter into such agreements with the owners of projects as may be necessary or proper to carry out the provisions of this subdivision. Such agreements may, in the case of a project the mortgage on which is held by the agency, provide for the making of housing assistance payments in the form of a credit against the company's payments thereon.