NY State Assembly Bill 2009-A9974

Assembly Bill A9974

2009-2010 Legislative Session

Relates to the right of tenant association to have the first option to purchase a housing unit

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Archive: Last Bill Status - In Assembly Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Feb 22, 2010	referred to housing

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2009-A9974 (ACTIVE) - Details

See Senate Version of this Bill:: S3852
Current Committee:: Assembly Housing
Law Section:: Private Housing Finance Law
Laws Affected:: Add Art 2-A §§38 - 38-l, Priv Hous Fin L
Versions Introduced in Other Legislative Sessions:: 2011-2012: A1841, S428
2013-2014: A6583, S3155
2015-2016: A1067, S2779
2017-2018: A5006, S5836
2019-2020: A740, S1922
2021-2022: A2221, S495
2023-2024: A1221, S133

2009-A9974 (ACTIVE) - Summary

Relates to the right of tenant association to have the first option to purchase a housing unit.

2009-A9974 (ACTIVE) - Sponsor Memo

                                BILL NUMBER:A9974

TITLE OF BILL:  An act to amend the private housing finance law, in
relation to right of first refusal

PURPOSE OR GENERAL IDEA OF BILL:  To protect the residents of all Mitc-
hell-Lama, Limited Dividend and federally subsidized developments in the
state that are being privatized by granting tenants the right to
purchase their buildings at a fair market value.

SUMMARY OF SPECIFIC PROVISIONS:  The Private Housing Finance Law is
amended by adding a new article a-A, Section 38. Terms are defined
including "right of first refusal" which means the right of a tenant
association or a qualified entity to purchase a Mitchell-Lama, Limited
Dividend or a federally subsidized property, such as a Project-based
section B building.

This measure would require all owners of Mitchell-Lama, Limited Dividend
and federally subsidized housing developments who plan to privatize
their buildings to provide advance notification to all tenants and the
State Division of Housing and Community Renewal (DRCR). Such notice
shall be-made no less than twelve months prior to, the owner taking any
action, and contain specific information.related to the-property and its
ownership.

The bill provides for the tenant or tenants' association to notify the

owner in writing of their intent to exercise their right of first
refusal within 60 days. In relation to value of the property, the DRCR
shall convene an advisory panel to determine the appraised value of the
housing, and promulgate rules for the timely determination of the
appraised value.

This bill also requires that any owner who receives a bona-fide offer
for a property to provide the terms and conditions of the offer to the
tenants' association, or each individual tenant, within 15 days.  In the
event the prospective purchaser agrees to maintain the housing as
affordable, the owner does not need to notify tenants.

If the tenants choose not to exercise their right of first refusal, they
shall have the right to remain in their prospective dwelling units for
six months from the date of the conversion or until their leases expire,
whichever is longer. With the agreement of the tenant or tenants, the
new owner may relocate tenant(s) to comparable units with comparable
rents in accordance with procedures established by the DHCR.

An owner in violation of this article is liable for a civil penalty of
five thousand dollars pea month per dwelling with total civil penalties
not to exceed $100,000 per dwelling unit. This legislation shall not
affect existing agreements or the purchase by a governmental entity
utilizing the powers of eminent domain, bankruptcy proceedings, or the
judicially supervised sale or transfer of the property. Judicial review
is available for persons aggrieved by an appraisal determination.

JUSTIFICATION:  New York State is facing an affordable housing crisis
that is widespread and diverse. Few problems facing our state are crit-
ical than New York's severe shortage of safe, decent, affordable homes.
During much of the last century, New York state has been a national
leader in the creation of affordable housing and protection of tenants
rights.

In the 1950s, the state enacted the extremely successful Mitchell-Lama
program which created more than 150,000 homes across New York that were
affordable to middle income families. The Mitchell-Lama housing program
was created in 1955, with new developments continuing to be built into
the mid-1970's under a mix of state, local and federal funding. Low
interest loans covering up to 95% of all development costs were made
available to developers. The developments came with 20-, 30- or 40-year
affordability requirements, after which those developments could be
privatized. New York State also has a large number of federally subsi-
dized developments which house hundreds of thousands of low-income,
elderly, and disabled residents across the state. Mitchell-Lama, Limited
Dividend and federally subsidized rental units are found throughout New
York State, including in New York City, Buffalo, Albany, Rochester,
Syracuse, Westchester and Nassau Counties.

In recent years, there has been a significant loss of Mitchell-Lama
rental units. 65,000 units across the state have already been lost and
dozens of additional developments have already initiated the buyout
process. New York City, in particular, is facing a particularly grave
loss of rental units more than 40 of its Mitchell-Lama rental units.
have been privatized since 1990, New York State has also already lost
over 10,000 units of federally subsidized project based Section 8 homes.

Currently, tenants of Mitchell-Lama, Limited Dividend and federally
subsidized rental buildings have few protections if an owner decides to
opt out of the subsidy program. While many tenants living in a federally
subsidized buildings that have privatized are eligible for enhanced
Section 8 vouchers, these vouchers require a lengthy application process
and are not guaranteed. Family size and housing quality standards can
often make a tenant ineligible to remain in his or her home and force
the use of a standard voucher that has a reduced value when not used in
the original building.

Faced with an increasing crisis of privatizations and opts-outs in most
of its communities, New York City passed Local Law 79 in 2003; which
granted Mitchell-Lama and Section 8 tenants a "right-of-first-refusal."
However, it was struck down in April 2007 by the New York State Supreme
Court in the court's decision, the judge issued a clear directive to the
State Legislature. The judge wrote that not only does the Legislature
have the authority to enact such a measure, it also has the duty to
provide this protection to tenants. Whether it be by creating a right of
first refusal or by extending rent stabilization, the State Legislature
may well have the ability to protect low and middle-income residents of
Mitchell-Lama buildings, as it has done in the past. In failing to do
so, or to permit the City of the New York to do so the State Legislature

has failed the residents of the City of New York. The recent sales and
proposed sales of major assisted rental housing complexes it this City
and the likely devastating impact of those sales on low and moderate-in-
come residents of New York may and should function as a wake-up call for
the need for immediate action by the State. By providing for a right of
first refusal, New York State will have the necessary statutory frame-
work needed to preserve affordable and subsidized housing. Several other
states, including Rhode Island, Maine, Texas and Illinois, have adopted
right of first refusal and right to purchase laws. New York State should
once again become a national leader, as it once was, in providing for
progressive housing laws and tenant protections.

PRIOR LEGISLATIVE HISTORY:  A8820/S.5948 of 2007 A861/S3852 of 2009

FISCAL IMPLICATIONS: None to State

EFFECTIVE DATE:  This bill shall become effective immediately.

2009-A9974 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  9974

                          I N  A S S E M B L Y

                            February 22, 2010
                               ___________

Introduced  by  M.  of  A. ROSENTHAL, BING, BENEDETTO, JEFFRIES, WRIGHT,
  J. RIVERA, V. LOPEZ, SPANO, TITONE, CAMARA -- Multi-Sponsored by -- M.
  of A. BRENNAN, CHRISTENSEN, FARRELL, GLICK, GOTTFRIED,  JAFFEE,  JOHN,
  KELLNER, PHEFFER, SCARBOROUGH, WEISENBERG -- read once and referred to
  the Committee on Housing

AN ACT to amend the private housing finance law, in relation to right of
  first refusal

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The private housing finance law is amended by adding a  new
article 2-A to read as follows:
                              ARTICLE II-A
                         RIGHT OF FIRST REFUSAL
SECTION 38.   DEFINITIONS.
        38-A. NOTIFICATION OF IMPENDING CONVERSION.
        38-B. NOTIFICATION OF BONA FIDE OFFER TO PURCHASE.
        38-C. APPRAISAL DETERMINATION.
        38-D. RIGHT OF FIRST REFUSAL.
        38-E. FIRST OPPORTUNITY TO PURCHASE.
        38-F. PRIOR NOTIFICATION.
        38-G. LONG TERM AFFORDABILITY.
        38-H. RIGHT OF TRANSFER.
        38-I. CONVERSION OF PROPERTY.
        38-J. PENALTY.
        38-K. EXCLUSIONS.
        38-L. JUDICIAL REVIEW.
  S  38.  DEFINITIONS.  FOR  THE PURPOSES OF THIS ARTICLE, THE FOLLOWING
DEFINITIONS SHALL APPLY:
  1. "AFFORDABLE" SHALL MEAN THAT RENTAL EXPENSES FOR DWELLING UNITS  DO
NOT  EXCEED  THIRTY  PERCENT OF THE ANNUAL GROSS HOUSEHOLD INCOME OF THE
EXISTING TENANTS, AND/OR WHERE RENTAL EXPENSES DO NOT  EXCEED  THE  RENT
LEVELS  ALLOWABLE  PURSUANT  TO THE RENT RESTRICTIONS APPLICABLE TO SUCH
DWELLING UNITS PRIOR TO CONVERSION, PROVIDED HOWEVER THAT DWELLING UNITS
WHICH BECOME VACANT IN ASSISTED RENTAL HOUSING SHOULD NOT BE  RENTED  TO

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

                                                           LBD03061-01-9

A. 9974                             2

HOUSEHOLDS WHOSE INCOME EXCEEDS EIGHTY PERCENT OF THE NEW YORK METROPOL-
ITAN AREA MEDIAN INCOME AS DETERMINED BY THE UNITED STATES DEPARTMENT OF
HOUSING AND URBAN DEVELOPMENT.
  2.  "APPRAISED VALUE" SHALL MEAN THE VALUE AS DETERMINED BY A MAJORITY
VOTE OF AN ADVISORY PANEL OF THREE APPRAISERS  WHO  SHALL  PERFORM  SUCH
APPRAISAL  IN  ACCORDANCE  WITH  THE  AMERICAN ARBITRATION ASSOCIATION'S
RULES FOR THE REAL ESTATE INDUSTRY.
  3. "ASSISTED RENTAL HOUSING" SHALL  MEAN  A  PRIVATELY-OWNED  MULTIPLE
DWELLING  OR GROUP OF MULTIPLE DWELLING UNITS MANAGED TOGETHER UNDER THE
SAME OWNERSHIP IN WHICH THE  MAJORITY  OF  DWELLING  UNITS  THEREIN  ARE
SUBJECT TO FEDERAL, STATE OR CITY INCOME ELIGIBILITY RESTRICTIONS AND IN
WHICH  RENTS  FOR  SUCH  DWELLING  UNITS  ARE  CONTROLLED,  REGULATED OR
ASSISTED BY A FEDERAL, STATE OR CITY AGENCY  PURSUANT  TO  A  REGULATORY
AGREEMENT  OR RENTAL ASSISTANCE AGREEMENT DESIGNED TO MAKE SUCH DWELLING
UNITS AFFORDABLE ON A PROJECT-BASED  BASIS.    ASSISTED  RENTAL  HOUSING
PROGRAMS SHALL INCLUDE:
  (A) ANY PROGRAM CREATED, ADMINISTERED, OR SUPERVISED BY A MUNICIPALITY
OR STATE UNDER ARTICLE TWO OR ARTICLE FOUR OF THIS CHAPTER.
  (B) ANY PROGRAM PROVIDING PROJECT-BASED ASSISTANCE UNDER SECTION EIGHT
OF THE UNITED STATES HOUSING ACT OF 1937, AS IT MAY BE AMENDED FROM TIME
TO TIME; AND
  (C)  HOUSING  PROGRAMS GOVERNED BY SECTION 202, 207, 221, 232, 236, OR
811 OF THE NATIONAL HOUSING ACT, (12 U.S.C. 1701 ET SEQ.), AS  THEY  MAY
BE AMENDED FROM TIME TO TIME.
  4.  "BONA  FIDE  PURCHASER"  SHALL  MEAN  A  PERSON OR ENTITY THAT HAS
TENDERED A BONA FIDE OFFER TO PURCHASE THE ASSISTED RENTAL HOUSING.
  5. "BONA FIDE OFFER TO PURCHASE" SHALL MEAN A GOOD FAITH  AND  WITHOUT
FRAUD  OFFER,  MADE  IN  WRITING  AND  APPROVED  BY THE DIVISION THAT IS
TENDERED BY A BONA FIDE PURCHASER NO LATER THAN ONE HUNDRED TWENTY  DAYS
AFTER  AN APPRAISAL PERFORMED PURSUANT TO SECTION THIRTY-EIGHT-C OF THIS
ARTICLE, AND THAT IS NON-BINDING ON THE OWNER WITH INTENT TO CONVERT.
  6. "CONVERSION" OR "CONVERT" SHALL MEAN THE TRANSFER OF  TITLE,  LEAS-
ING,  INTENTION  TO SELL OR LEASE, MORTGAGE PRE-PAYMENT, WITHDRAWAL FROM
AN ASSISTED HOUSING PROGRAM, DECISION NOT TO  EXTEND  OR  RENEW  PARTIC-
IPATION IN THE PROGRAM OR ANY OTHER ACTION TAKEN BY THE OWNER THAT WOULD
RESULT  IN THE TERMINATION OF PARTICIPATION BY THE OWNER IN THE ASSISTED
RENTAL HOUSING PROGRAM.
  7. "HOUSEHOLD" SHALL MEAN ALL LAWFUL OCCUPANTS OF ANY DWELLING UNIT.
  8. "HOUSEHOLD INCOME" SHALL MEAN, FOR ANY HOUSEHOLD, THE  SUM  OF  THE
AMOUNT  REPORTED  SEPARATELY  IN THE MOST RECENT INDIVIDUAL OR JOINT TAX
RETURN FOR WAGE OR SALARY INCOME, NET  SELF-EMPLOYED  INCOME,  INTEREST,
DIVIDENDS, RENT RECEIVED, ROYALTIES, SOCIAL SECURITY OR RAILROAD RETIRE-
MENT  BENEFITS  OR  DISABILITY  BENEFITS  AND  ALL OTHER INCOME FOR EACH
MEMBER OF THE HOUSEHOLD REPORTED ON A TAX RETURN.
  9. "DIVISION" SHALL MEAN THE DIVISION OF HOUSING AND COMMUNITY RENEWAL
OR SUCCESSOR AGENCY.
  10.   "FINANCIAL ASSISTANCE" SHALL MEAN ANY  BENEFITS  RECEIVED  AS  A
RESULT  OF  AN  ASSISTED  RENTAL  HOUSING  PROGRAM  THAT ACT TO MAINTAIN
AFFORDABLE RENTS IN THE ASSISTED RENTAL HOUSING.
  11. "FIRST OPPORTUNITY TO PURCHASE" SHALL MEAN THE  OPPORTUNITY  BY  A
TENANT ASSOCIATION, OR IF APPLICABLE, A QUALIFIED ENTITY, TO PURCHASE IN
GOOD FAITH AND WITHOUT FRAUD THE ASSISTED RENTAL HOUSING AT OR BELOW ITS
APPRAISED  VALUE  BEFORE SUCH ASSISTED RENTAL HOUSING BECOMES SUBJECT TO
CONVERSION.
  12. "NOTICE" SHALL MEAN A WRITTEN COMMUNICATION ADDRESSED TO A  TENANT
ASSOCIATION,  OR  IF NO TENANT ASSOCIATION EXISTS, TO EACH TENANT, OR IF

A. 9974                             3

APPLICABLE, TO A QUALIFIED ENTITY, BY MEANS OF FIRST  CLASS  AND  REGIS-
TERED  MAIL,  OR  PERSONAL  DELIVERY UPON A TENANT ASSOCIATION, OR IF NO
TENANT ASSOCIATION EXISTS, UPON EACH TENANT, OR IF APPLICABLE, A  QUALI-
FIED  ENTITY.  EACH  SUCH NOTICE SHALL BE DEEMED TO HAVE BEEN GIVEN UPON
THE DEPOSIT OF SUCH FIRST CLASS AND REGISTERED MAIL IN  THE  CUSTODY  OF
THE  UNITED  STATES POSTAL SERVICE OR UPON RECEIPT OF PERSONAL DELIVERY,
AND BY POSTING OF SUCH NOTICE IN THE COMMON AREAS OF THE ASSISTED RENTAL
HOUSING.
  13. "OWNER" SHALL MEAN ANY PERSON OR ENTITY, OR  COMBINATION  OF  SUCH
PERSONS  OR ENTITIES, OR ANY AGENT OF SUCH PERSONS OR ENTITIES, THAT HAS
A CONTROLLING INTEREST IN ASSISTED RENTAL HOUSING  THAT  IS  SUBJECT  TO
CONVERSION.
  14. "QUALIFIED ENTITY" SHALL MEAN ANY INDIVIDUAL, PARTNERSHIP, LIMITED
LIABILITY  PARTNERSHIP,  LIMITED  LIABILITY  CORPORATION, NOT-FOR-PROFIT
CORPORATION OR BUSINESS CORPORATION, OR OTHER ENTITY  AUTHORIZED  TO  DO
BUSINESS IN NEW YORK STATE AND EXPERIENCED IN THE MANAGEMENT OF AFFORDA-
BLE  HOUSING,  DESIGNATED  BY  THE  TENANTS  RESIDING  IN AT LEAST SIXTY
PERCENT OF THE OCCUPIED DWELLING UNITS WITHIN THE SAME  ASSISTED  RENTAL
HOUSING  TO ACT ON ITS BEHALF PURSUANT TO SECTION THIRTY-EIGHT-H OF THIS
ARTICLE AND APPROVED IN WRITING BY  THE  DIVISION  AND  WHICH  OBLIGATES
ITSELF AND ANY SUCCESSORS IN INTEREST TO ASSUME THE ONGOING RESPONSIBIL-
ITY OF CONTINUING MAINTENANCE AND OPERATION OF THE ASSISTED RENTAL HOUS-
ING  AS  AFFORDABLE FOR THE DURATION OF THE HOUSING'S USEFUL LIFE AND IN
ACCORDANCE WITH THE PURPOSES OF THIS ARTICLE.
  15. "RIGHT OF FIRST REFUSAL" SHALL MEAN THE RIGHT OF A TENANT  ASSOCI-
ATION,  OR IF APPLICABLE, A QUALIFIED ENTITY, TO SUBMIT A GOOD FAITH AND
WITHOUT FRAUD OFFER, IN WRITING TO THE OWNER TO PURCHASE THE  HIGHER  OF
THE  ASSISTED  RENTAL  HOUSING'S APPRAISED VALUE OR THE IDENTICAL PRICE,
TERMS AND CONDITIONS OFFERED BY A BONA FIDE PURCHASER AS APPROVED BY THE
DIVISION.
  16. "TENANT" SHALL MEAN A LAWFUL OCCUPANT WHO RESIDES WITHIN A  DWELL-
ING  UNIT WITHIN SUCH ASSISTED RENTAL HOUSING PURSUANT TO LAW OR A LEASE
RECOGNIZED BY EITHER THE OWNER OF  SUCH  ASSISTED  RENTAL  HOUSING,  THE
DIVISION OR A COURT OF COMPETENT JURISDICTION.
  17.  "TENANT  ASSOCIATION" SHALL MEAN AN ASSOCIATION, WHETHER INCORPO-
RATED OR NOT, FOR WHICH WRITTEN CONSENT TO FORMING A TENANT  ASSOCIATION
HAS  BEEN  GIVEN  BY  TENANTS REPRESENTING AT LEAST SIXTY PERCENT OF THE
OCCUPIED DWELLING UNITS WITHIN THE SAME  ASSISTED  RENTAL  HOUSING,  AND
WHICH  ASSOCIATION  NOTIFIES  OR  HAS NOTIFIED THE OWNER OF THE ASSISTED
RENTAL HOUSING AND THE DIVISION OF ITS EXISTENCE  OR  ESTABLISHMENT  AND
HAS  PROVIDED  TO SUCH OWNER AND THE DIVISION THE NAMES AND ADDRESSES OF
AT LEAST TWO OF THE OFFICERS OR  REPRESENTATIVES  OF  SUCH  ASSOCIATION.
WHERE MORE THAN ONE GROUP OF TENANTS IN THE SAME ASSISTED RENTAL HOUSING
CLAIMS  TO  BE  THE TENANT ASSOCIATION FOR SUCH ASSISTED RENTAL HOUSING,
THE DIVISION SHALL DETERMINE WHICH GROUP, IF ANY, IS THE TENANT  ASSOCI-
ATION  FOR  THE PURPOSES OF THIS ARTICLE IN THE SAME MANNER AS THE DIVI-
SION CERTIFIES A TENANT ASSOCIATION FOR THE PURPOSES OF ARTICLE  TWO  OF
THIS CHAPTER.
  S  38-A.  NOTIFICATION  OF  IMPENDING  CONVERSION.  1. NOTICE SHALL BE
PROVIDED BY THE OWNER TO THE TENANT ASSOCIATION, OR IF NO TENANT ASSOCI-
ATION EXISTS, TO EACH TENANT, AND TO THE DIVISION OF  THE  INTENTION  OF
THE  OWNER  TO TAKE ANY ACTION THAT WILL RESULT IN THE CONVERSION OF THE
ASSISTED RENTAL HOUSING.
  2. SUCH NOTICE SHALL BE PROVIDED NO LESS THAN TWELVE MONTHS  PRIOR  TO
THE  TAKING  OF  SUCH ACTION BY THE OWNER. SUCH NOTICE SHALL INCLUDE THE
FOLLOWING INFORMATION:

A. 9974                             4

  (A) THE NAME AND ADDRESS OF EACH OWNER OF THE ASSISTED RENTAL HOUSING.
FOR ANY OWNER THAT IS A CORPORATION, THE NOTICE SHALL CONTAIN THE  NAMES
AND  ADDRESSES  OF  THE OFFICERS AND DIRECTORS OF THE CORPORATION AND OF
ANY PERSON DIRECTLY OR INDIRECTLY HOLDING MORE THAN TEN PERCENT  OF  ANY
CLASS OF THE OUTSTANDING STOCK OF THE CORPORATION. FOR ANY OWNER THAT IS
A  PARTNERSHIP  OR  JOINT VENTURE, THE NOTICE SHALL CONTAIN THE NAME AND
ADDRESS OF EACH INDIVIDUAL WHO IS A PRINCIPAL OR  EXERCISES  CONTROL  OF
SUCH ENTITIES;
  (B)  THE  ADDRESS  AND/OR  ADDRESSES  AND THE NAME AND/OR NAMES OF THE
ASSISTED RENTAL HOUSING AND THE TYPE OF PROGRAM OR PROGRAMS TO WHICH THE
ASSISTED RENTAL HOUSING IS SUBJECT;
  (C) THE NATURE OF THE ACTION THAT THE OWNER INTENDS TO TAKE THAT  WILL
RESULT IN A CONVERSION;
  (D)  THE  DATE  ON  WHICH  SUCH  ACTION RESULTING IN THE CONVERSION IS
ANTICIPATED TO TAKE PLACE;
  (E) THE PROVISION OF LAW, RULE OR REGULATION PURSUANT  TO  WHICH  SUCH
ACTION IS AUTHORIZED;
  (F)  THE  TOTAL NUMBER AND TYPE OF DWELLING UNITS SUBJECT TO A CONVER-
SION;
  (G) THE CURRENT RENT SCHEDULE FOR THE DWELLING  UNITS  ALONG  WITH  AN
ESTIMATION OF THE RENT INCREASES ANTICIPATED UPON CONVERSION;
  (H) THE INCOME AND EXPENSE REPORT FOR THE TWELVE-MONTH PERIOD PRIOR TO
THE NOTICE INCLUDING CAPITAL IMPROVEMENTS, REAL PROPERTY TAXES AND OTHER
MUNICIPAL CHARGES;
  (I)  THE  AMOUNT  OF  THE  OUTSTANDING  MORTGAGE AS OF THE DATE OF THE
NOTICE;
  (J) THE TWO MOST  RECENT  INSPECTION  REPORTS  FROM  THE  REAL  ESTATE
ASSESSMENT  CENTER  OF THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN
DEVELOPMENT, FOR THE ASSISTED RENTAL HOUSING OR GROUP OF MULTIPLE DWELL-
ING UNITS OPERATED TOGETHER UNDER THE  SAME  OWNERSHIP  FOR  WHICH  SUCH
INSPECTION  REPORTS ARE REQUIRED, OR, THE REPORTS OF THE TWO MOST RECENT
COMPREHENSIVE  BUILDING-WIDE  INSPECTION  REPORTS  THAT  MAY  HAVE  BEEN
CONDUCTED BY THE DIVISION;
  (K)  A  STATEMENT OF NOTICE IN A MANNER APPROVED BY THE DIVISION WHICH
ADVISES A TENANT  ASSOCIATION,  OR  IF  NO  TENANT  ASSOCIATION  EXISTS,
ADVISES EACH TENANT, OF THE FIRST OPPORTUNITY TO PURCHASE AS REQUIRED BY
SECTION  THIRTY-EIGHT-E  OF  THIS  ARTICLE,  OR  OF  THE  RIGHT OF FIRST
REFUSAL, AS REQUIRED BY SECTION THIRTY-EIGHT-D OF THIS ARTICLE; AND
  (L) SUCH OTHER INFORMATION THE DIVISION MAY REQUIRE.
  3. DURING THE TWELVE-MONTH NOTIFICATION PERIOD PROVIDED FOR IN  SUBDI-
VISION  TWO  OF  THIS SECTION THE OWNER MAY NOT SELL OR CONTRACT TO SELL
THE ASSISTED RENTAL HOUSING, BUT MAY ENGAGE  IN  SUCH  DISCUSSIONS  WITH
OTHER INTERESTED PARTIES.
  4.  NOTICE  SHALL  NOT BE REQUIRED OF AN OWNER WHO INTENDS TO MAINTAIN
THE PROPERTY AS ASSISTED RENTAL HOUSING OR INTENDS TO TRANSFER, LEASE OR
REFINANCE A MORTGAGE IN ORDER  TO  MAINTAIN  THE  PROPERTY  AS  ASSISTED
RENTAL HOUSING.
  5.  WHERE  AN OWNER DECIDES NOT TO CONVERT THE ASSISTED RENTAL HOUSING
PROGRAM, SUCH OWNER MAY WITHDRAW THE NOTICE OF INTENTION TO CONVERT  THE
ASSISTED  RENTAL  HOUSING  PROGRAM, SUBJECT TO THE TERMS OF ANY ACCEPTED
OFFER TO PURCHASE OR EXECUTED PURCHASE AND SALE AGREEMENT, AND TO EXIST-
ING STATUTORY AND COMMON LAW REMEDIES. IN SUCH EVENT,  THE  OWNER  SHALL
GIVE  NOTICE  TO  THE  TENANT  ASSOCIATION,  OR IF NO TENANT ASSOCIATION
EXISTS, TO EACH TENANT, OR IF APPLICABLE, TO A QUALIFIED ENTITY, AND  TO
THE  DIVISION.  HOWEVER,  SHOULD THE OWNER AT ANY TIME DECIDE TO TAKE AN
ACTION THAT WILL RESULT IN CONVERSION, THE TWELVE-MONTH NOTICE PERIOD OF

A. 9974                             5

THIS SECTION AS WELL AS ALL OTHER APPLICABLE REQUIREMENTS OF THIS  ARTI-
CLE SHALL BE COMPLIED WITH.
  6. NOTWITHSTANDING ANY OTHER PROVISIONS OF THIS SECTION, IF ANY APPLI-
CABLE  SUPERVENING  STATUTE OR PROGRAM HAS A NOTICE REQUIREMENT SUBSTAN-
TIALLY SIMILAR TO ANY NOTICE  REQUIREMENT  OF  THIS  SECTION,  THEN  THE
NOTICE  REQUIREMENT  UNDER THIS SECTION SHALL BE THAT OF THE SUPERVENING
STATUTE OR PROGRAM.
  7. NOTWITHSTANDING ANY  OTHER  PROVISIONS  OF  THIS  SECTION,  IF  THE
NOTICES  REQUIRED  BY  THIS  SECTION  REQUIRE  MORE  INFORMATION THAN IS
REQUIRED BY ANY APPLICABLE SUPERVENING CITY, STATE OR FEDERAL STATUTE OR
PROGRAM, THEN SUCH ADDITIONAL INFORMATION SHALL BE PROVIDED  WITHIN  THE
TIME PERIOD ESTABLISHED BY THE SUPERVENING STATUTE OR PROGRAM.
  S  38-B.  NOTIFICATION OF BONA FIDE OFFER TO PURCHASE. 1. IF THE OWNER
RECEIVES A BONA FIDE OFFER TO  PURCHASE  AND  INTENDS  TO  CONSIDER,  OR
RESPOND  TO  SUCH  BONA  FIDE  OFFER  TO  PURCHASE, THEN NOTICE SHALL BE
PROVIDED BY THE OWNER TO A TENANT ASSOCIATION, OR IF NO  TENANT  ASSOCI-
ATION  EXISTS, TO EACH TENANT, OR IF APPLICABLE, A QUALIFIED ENTITY, AND
THE DIVISION, NO MORE THAN FIFTEEN DAYS FROM THE  DATE  THAT  SUCH  BONA
FIDE  OFFER  TO  PURCHASE  IS  DELIVERED TO THE OWNER. SUCH NOTICE SHALL
CONTAIN THE FOLLOWING INFORMATION:
  (A) THE NAME AND ADDRESS OF THE PROPOSED BONA FIDE PURCHASER; AND
  (B) THE PRICE AND TERMS AND CONDITIONS OF THE OFFER.
  2. THE OWNER SHALL NOT BE REQUIRED TO  PROVIDE  NOTICE  IN  ACCORDANCE
WITH  SUBDIVISION  ONE OF THIS SECTION IF THE BONA FIDE PURCHASER MAKING
THE OFFER AGREES TO MAINTAIN THE ASSISTED RENTAL HOUSING AS  AFFORDABLE.
THE  BONA  FIDE PURCHASER SHALL BE REQUIRED TO INFORM THE DIVISION AS TO
HOW SUCH BONA FIDE PURCHASER INTENDS TO KEEP THE ASSISTED RENTAL HOUSING
AS AFFORDABLE.
  S 38-C. APPRAISAL DETERMINATION. 1.  THE  DIVISION  SHALL  CONVENE  AN
ADVISORY PANEL, WHICH ADVISORY PANEL SHALL DETERMINE THE APPRAISED VALUE
OF  THE  ASSISTED  RENTAL HOUSING WITHIN THIRTY DAYS OF A TENANT ASSOCI-
ATION'S, OR IF APPLICABLE, A QUALIFIED ENTITY'S NOTICE TO THE OWNER  AND
THE  DIVISION  PURSUANT  TO SUBDIVISION ONE OF SECTION THIRTY-EIGHT-D OR
SUBDIVISION ONE OF SECTION THIRTY-EIGHT-E OF THIS ARTICLE.
  2. THE ADVISORY PANEL SHALL CONSIST OF ONE APPRAISER SELECTED  BY  THE
OWNER,  ONE APPRAISER SELECTED BY THE TENANT ASSOCIATION, OR IF APPLICA-
BLE, A QUALIFIED ENTITY, AND ONE APPRAISER  TO  BE  SELECTED  EITHER  BY
MUTUAL  AGREEMENT  BETWEEN  THE  OWNER  AND THE TENANT ASSOCIATION OR IF
APPLICABLE, A QUALIFIED ENTITY,  OR  BY  MUTUAL  AGREEMENT  BETWEEN  THE
APPRAISER  THAT  WAS SELECTED BY THE OWNER AND THE APPRAISER SELECTED BY
THE TENANT ASSOCIATION, OR IF APPLICABLE, A QUALIFIED  ENTITY,  IF  SUCH
CONDITION IS DEEMED ACCEPTABLE TO THE OWNER AND THE TENANTS ASSOCIATION,
OR  IF  APPLICABLE,  A  QUALIFIED ENTITY, AND IS AGREED UPON IN WRITING,
EXCEPT THAT IN THE CASE OF WHERE THERE IS NO AGREEMENT BETWEEN THE OWNER
AND THE TENANT ASSOCIATION, OR IF APPLICABLE,  A  QUALIFIED  ENTITY,  OR
BETWEEN  THE  APPRAISER THAT WAS SELECTED BY THE OWNER AND THE APPRAISER
SELECTED BY THE TENANT ASSOCIATION, OR IF APPLICABLE, A QUALIFIED  ENTI-
TY,  THEN  THE  APPRAISER WILL BE SELECTED BY THE DIVISION. THE COST FOR
THE APPRAISER SHALL BE BORNE BY  THE  PARTY  RESPONSIBLE  FOR  PROVIDING
SUCH  APPRAISER.  HOWEVER,  WHERE  THE  DIVISION  MUST  SELECT THE THIRD
APPRAISER, THE COST FOR SUCH APPRAISER SHALL BE  EQUALLY  BORNE  BY  THE
OWNER AND THE TENANT ASSOCIATION, OR IF APPLICABLE, A QUALIFIED ENTITY.
  3.  NOTICE  SHALL  BE  PROVIDED  BY  THE DIVISION TO THE OWNER AND THE
TENANT ASSOCIATION, OR IF APPLICABLE, A QUALIFIED ENTITY,  FIFTEEN  DAYS
BEFORE  THE  INTENDED  DATE  THAT SUCH ADVISORY PANEL IS TO INITIATE THE
PERFORMANCE OF THE APPRAISAL. IN THE  INSTANCE  WHEN  EITHER  THE  OWNER

A. 9974                             6

FAILS TO PROVIDE AN APPRAISER WITHIN FIFTEEN DAYS OF SUCH NOTICE OR WHEN
THE  TENANT  ASSOCIATION, OR IF APPLICABLE, A QUALIFIED ENTITY, FAILS TO
PROVIDE AN APPRAISER WITHIN FIFTEEN DAYS OF SUCH NOTICE THEN  THE  DIVI-
SION  SHALL  SELECT THE APPRAISER ON BEHALF OF THE PARTY OR PARTIES THAT
FAILED TO SELECT AN APPRAISER. IN SUCH CIRCUMSTANCE, THE  COST  FOR  THE
APPRAISER SELECTED BY THE DIVISION SHALL BE BORNE BY THE PARTY RESPONSI-
BLE FOR PROVIDING THAT APPRAISER.
  4. THE DIVISION SHALL PROMULGATE RULES FOR THE TIMELY DETERMINATION OF
THE  APPRAISED  VALUE  AND THAT SUCH RULES ARE TO BE CONSISTENT WITH THE
NOTICE REQUIREMENTS MANDATED UNDER THIS CHAPTER. THE DIVISION SHALL MAKE
SUCH APPRAISED VALUE PUBLICLY AVAILABLE WITHIN  FIFTEEN  DAYS  FROM  THE
DATE OF SUCH ADVISORY PANEL'S DETERMINATION.
  5.  IN  THE INSTANCE WHERE THE OWNER AND THE TENANT ASSOCIATION, OR IF
APPLICABLE, A QUALIFIED ENTITY, HAVE MUTUALLY AGREED UPON  AN  APPRAISED
VALUE  FOR  THE  ASSISTED  RENTAL  HOUSING PRIOR TO THE CONVENING OF THE
ADVISORY PANEL, THE OWNER AND THE TENANT ASSOCIATION, OR IF  APPLICABLE,
A  QUALIFIED  ENTITY,  MAY IN WRITING APPLY TO THE DIVISION FOR A WAIVER
FROM SUBDIVISIONS ONE THROUGH FOUR OF THIS SECTION. THE  DIVISION  SHALL
MAKE  A  DETERMINATION UPON SUCH APPLICATION FOR A WAIVER WITHIN FIFTEEN
DAYS FROM RECEIPT OF SUCH APPLICATION.
  S 38-D. RIGHT OF FIRST REFUSAL. 1. A TENANT ASSOCIATION, OR IF  APPLI-
CABLE,  A  QUALIFIED  ENTITY, SHALL NOTIFY THE OWNER AND THE DIVISION IN
WRITING OF ITS INTENT TO EXERCISE ITS  RIGHT  OF  FIRST  REFUSAL  WITHIN
SIXTY DAYS FROM RECEIPT OF NOTICE FROM THE OWNER PURSUANT TO SUBDIVISION
ONE OF SECTION THIRTY-EIGHT-A OF THIS ARTICLE.
  2.  THE  TENANT  ASSOCIATION,  OR  IF  APPLICABLE, A QUALIFIED ENTITY,
FOLLOWING NOTICE BY THE OWNER IN  COMPLIANCE  WITH  SUBDIVISION  ONE  OF
SECTION  THIRTY-EIGHT-A  OF  THIS ARTICLE, SHALL HAVE ONE HUNDRED TWENTY
DAYS FROM THE DATE OF THE NOTICE OF THE DETERMINATION OF  THE  APPRAISED
VALUE TO SUBMIT ITS OFFER TO PURCHASE.
  3.  THE  TENANT  ASSOCIATION,  OR  IF  APPLICABLE  A QUALIFIED ENTITY,
FOLLOWING NOTICE BY THE OWNER IN  COMPLIANCE  WITH  SUBDIVISION  ONE  OF
SECTION  THIRTY-EIGHT-B  OF  THIS ARTICLE, SHALL HAVE ONE HUNDRED TWENTY
DAYS FROM THE DATE OF A BONA FIDE OFFER TO PURCHASE TO SUBMIT ITS  OFFER
TO PURCHASE.
  4.  IF  THROUGH  NO FAULT OF A TENANT ASSOCIATION, OR IF APPLICABLE, A
QUALIFIED ENTITY, OR THE OWNER, THE TIME PERIODS PROVIDED FOR IN  SUBDI-
VISION  TWO OR THREE OF THIS SECTION NEED TO BE EXTENDED, THEN SUCH TIME
PERIODS MAY BE EXTENDED BY THE DIVISION. SHOULD  SUCH  TIME  PERIODS  BE
EXTENDED  PAST  THE  NOTICE  PERIOD  PROVIDED  FOR IN SUBDIVISION ONE OF
SECTION THIRTY-EIGHT-A OF THIS  ARTICLE,  THEN  THE  PROVISIONS  OF  THE
APPLICABLE  ASSISTED  RENTAL  HOUSING PROGRAM SHALL REMAIN IN FULL FORCE
AND EFFECT TO THE EXTENT PERMITTED BY LAW.
  5. UNLESS THE OWNER AND A TENANT  ASSOCIATION,  OR  IF  APPLICABLE,  A
QUALIFIED  ENTITY, OTHERWISE AGREE TO PURCHASE THE ASSISTED RENTAL HOUS-
ING BELOW ITS APPRAISED VALUE, THE OWNER SHALL SELL SUCH ASSISTED RENTAL
HOUSING AT THE APPRAISED VALUE OR AT THE PRICE CONTAINED IN A BONA  FIDE
OFFER TO PURCHASE PRICE AS APPROVED BY THE DIVISION.
  6.  THE  DIVISION  SHALL PROMULGATE RULES FOR THE TIMELY COMPLETION OF
ALL LENDING PROGRAM APPLICATIONS, CREDIT REVIEWS AND LOAN CLOSINGS.
  7. IF A TENANT ASSOCIATION, OR IF APPLICABLE, A QUALIFIED ENTITY, DOES
NOT SUBMIT ITS OFFER IN WRITING TO THE OWNER AND THE DIVISION WITHIN THE
TIME PERIODS STATED IN SUBDIVISION TWO OR THREE OF THIS SECTION  FOLLOW-
ING  NOTICE  BY  THE OWNER IN COMPLIANCE WITH SUBDIVISION ONE OF SECTION
THIRTY-EIGHT-A OF THIS ARTICLE, THEN SUCH RIGHT WILL  BE  DEEMED  WAIVED
AND  THE  OWNER  SHALL  HAVE  NO FURTHER OBLIGATIONS UNDER THIS SECTION.

A. 9974                             7

HOWEVER, WHERE A TENANT ASSOCIATION, OR IF APPLICABLE, A QUALIFIED ENTI-
TY, HAS PREVIOUSLY SUBMITTED A NOTICE IN ACCORDANCE WITH SUBDIVISION ONE
OF THIS SECTION DECIDES NOT TO EXERCISE SUCH RIGHT, IT MAY WITHDRAW SUCH
NOTICE  BY  GIVING WRITTEN NOTICE TO THAT EFFECT TO THE OWNER AND TO THE
DIVISION.
  S 38-E. FIRST OPPORTUNITY TO PURCHASE. 1. A TENANT ASSOCIATION, OR  IF
APPLICABLE,  A QUALIFIED ENTITY, SHALL NOTIFY THE OWNER AND THE DIVISION
IN WRITING OF ITS INTENT TO EXERCISE ITS RIGHT OF FIRST  OPPORTUNITY  TO
PURCHASE  WITHIN SIXTY DAYS FROM RECEIPT OF NOTICE FROM THE OWNER PURSU-
ANT TO SUBDIVISION ONE OF SECTION THIRTY-EIGHT-A OF THIS ARTICLE.
  2. THE TENANT ASSOCIATION,  OR  IF  APPLICABLE,  A  QUALIFIED  ENTITY,
FOLLOWING  NOTICE  BY  THE  OWNER  IN COMPLIANCE WITH SUBDIVISION ONE OF
SECTION THIRTY-EIGHT-A OF THIS ARTICLE, SHALL HAVE  ONE  HUNDRED  TWENTY
DAYS  FROM  THE DATE OF THE NOTICE OF THE DETERMINATION OF THE APPRAISED
VALUE TO SUBMIT ITS OFFER TO PURCHASE.
  3. IF THROUGH NO FAULT OF A TENANT ASSOCIATION, OR  IF  APPLICABLE,  A
QUALIFIED ENTITY, OR THE OWNER, THE TIME PERIOD PROVIDED FOR IN SUBDIVI-
SION TWO OF THIS SECTION NEEDS TO BE EXTENDED, THEN SUCH TIME PERIOD MAY
BE  EXTENDED  BY  THE DIVISION. SHOULD SUCH TIME PERIOD BE EXTENDED PAST
THE  NOTICE  PERIOD  PROVIDED  FOR  IN  SUBDIVISION   ONE   OF   SECTION
THIRTY-EIGHT-A  OF  THIS  ARTICLE, THEN THE PROVISIONS OF THE APPLICABLE
ASSISTED RENTAL HOUSING PROGRAM SHALL REMAIN IN FULL FORCE AND EFFECT TO
THE EXTENT PERMITTED BY LAW.
  4. EXCEPT WHERE THE OWNER AND A TENANT ASSOCIATION, OR IF  APPLICABLE,
A  QUALIFIED  ENTITY,  AGREE  TO A PURCHASE PRICE OF THE ASSISTED RENTAL
HOUSING AT AN AMOUNT BELOW THE APPRAISED VALUE, ANY OFFER MADE  PURSUANT
TO THIS SECTION SHALL BE ACCEPTED BY THE OWNER.
  5. IF A TENANT ASSOCIATION, OR IF APPLICABLE, A QUALIFIED ENTITY, DOES
NOT SUBMIT ITS OFFER IN WRITING TO THE OWNER AND THE DIVISION WITHIN THE
TIME  PERIODS STATED IN SUBDIVISION TWO OF THIS SECTION FOLLOWING NOTICE
BY  THE  OWNER  IN  COMPLIANCE   WITH   SUBDIVISION   ONE   OF   SECTION
THIRTY-EIGHT-A  OF  THIS  ARTICLE, THEN SUCH RIGHT WILL BE DEEMED WAIVED
AND THE OWNER SHALL HAVE NO  FURTHER  OBLIGATIONS  UNDER  THIS  SECTION.
HOWEVER, WHERE A TENANT ASSOCIATION, OR IF APPLICABLE, A QUALIFIED ENTI-
TY, HAS PREVIOUSLY SUBMITTED A NOTICE IN ACCORDANCE WITH SUBDIVISION ONE
OF THIS SECTION DECIDES NOT TO EXERCISE SUCH RIGHT, IT MAY WITHDRAW SUCH
NOTICE  BY  GIVING WRITTEN NOTICE TO THAT EFFECT TO THE OWNER AND TO THE
DIVISION.
  S 38-F. PRIOR NOTIFICATION. NOTWITHSTANDING  ANY  OTHER  PROVISION  OF
THIS  ARTICLE,  WHERE  AN  OWNER HAS GIVEN NOTICE PRIOR TO THE EFFECTIVE
DATE OF THIS ARTICLE AND THE INTENT OF SUCH  NOTICE  IS  TO  INITIATE  A
PROCEDURE  TO  WITHDRAW  THE  ASSISTED RENTAL HOUSING FROM A PROGRAM SET
FORTH IN SUBDIVISION THREE OF SECTION THIRTY-EIGHT OF THIS ARTICLE,  AND
SUCH  NOTICE  WAS PROPERLY GIVEN IN ACCORDANCE WITH ANY OTHER APPLICABLE
PROVISION OF LAW AND MORE THAN FORTY-FIVE DAYS REMAIN PRIOR TO THE EXPI-
RATION OF THE TIME PERIOD APPLICABLE TO SUCH NOTICE,  A  TENANT  ASSOCI-
ATION,  OR  IF  APPLICABLE,  A QUALIFIED ENTITY, MAY COMPLETE ANY ACTION
AUTHORIZED BY SECTIONS THIRTY-EIGHT-C, THIRTY-EIGHT-D AND THIRTY-EIGHT-E
OF THIS ARTICLE AT ANY TIME PRIOR TO THE EXPIRATION OF SUCH TIME PERIOD.
  S 38-G. LONG TERM AFFORDABILITY. A TENANT ASSOCIATION, OR IF  APPLICA-
BLE,  A  QUALIFIED  ENTITY,  INCLUDING ALL SUCCESSORS IN INTEREST, WHICH
CHOOSES TO EXERCISE THE RIGHTS PROVIDED FOR IN SECTION THIRTY-EIGHT-D OR
SECTION THIRTY-EIGHT-E OF THIS ARTICLE WILL BE OBLIGATED TO MAINTAIN THE
ASSISTED RENTAL HOUSING AS AFFORDABLE.
  S 38-H. RIGHT OF TRANSFER. 1. DURING THE NOTICE PERIOD PROVIDED FOR IN
SECTION THIRTY-EIGHT-A OF THIS ARTICLE, THE TENANTS, BY WRITTEN  CONSENT

A. 9974                             8

OF THE TENANTS RESIDING IN AT LEAST SIXTY PERCENT OF THE OCCUPIED DWELL-
ING  UNITS  WITHIN  THE  SAME  ASSISTED RENTAL HOUSING, MAY TRANSFER THE
RIGHTS ESTABLISHED BY SECTION THIRTY-EIGHT-D AND SECTION  THIRTY-EIGHT-E
OF THIS ARTICLE TO A QUALIFIED ENTITY.
  2.  NOTICE  OF  SUCH  TRANSFER  SHALL BE PROVIDED TO THE OWNER AND THE
DIVISION IN WRITING WITHIN SIXTY DAYS FROM RECEIPT OF  NOTICE  FROM  THE
OWNER PURSUANT TO SECTION THIRTY-EIGHT-A OF THIS ARTICLE.
  S  38-I.  CONVERSION  OF  PROPERTY.  NOTWITHSTANDING THE PROVISIONS OF
SECTION THIRTY-EIGHT-D AND SECTION THIRTY-EIGHT-E OF THIS ARTICLE,  WHEN
A  CONVERSION  OCCURS,  AN  OWNER OR BONA FIDE PURCHASER SHALL ALLOW THE
CURRENT TENANT OR TENANTS TO REMAIN IN THEIR RESPECTIVE  DWELLING  UNITS
FOR  THE  LONGER OF SIX MONTHS FROM THE EFFECTIVE DATE OF THE CONVERSION
OR UNTIL THE TENANT'S LEASE EXPIRES, AND AT THE SAME  TERMS  AND  CONDI-
TIONS  AS  BEFORE SUCH CONVERSION. SUCH OWNER OR PURCHASER MAY, WITH THE
AGREEMENT OF THE TENANT OR TENANTS, RELOCATE SUCH TENANT OR  TENANTS  TO
COMPARABLE  UNITS WITH COMPARABLE RENTS IN ACCORDANCE WITH PROCEDURES TO
BE ESTABLISHED BY THE RULES OF THE DIVISION.   NOTHING IN  THIS  SECTION
SHALL  BE  DEEMED  TO  LIMIT, RESTRICT OR MODIFY THE RIGHTS OF A CURRENT
TENANT OR TENANTS PURSUANT TO THE EMERGENCY  TENANT  PROTECTION  ACT  OF
NINETEEN  SEVENTY-FOUR, THE EMERGENCY HOUSING RENT CONTROL LAW, THE CITY
RENT AND REHABILITATION LAW OR THE RENT STABILIZATION  LAW  OF  NINETEEN
HUNDRED SIXTY-NINE.
  S 38-J. PENALTY. AN OWNER FOUND TO HAVE VIOLATED ANY PROVISION OF THIS
ARTICLE  SHALL,  IN  ADDITION  TO  ANY  OTHER  MONETARY AND/OR EQUITABLE
DAMAGES FOR WHICH THE OWNER MAY BE LIABLE, BE LIABLE FOR A CIVIL PENALTY
OF FIVE THOUSAND DOLLARS PER MONTH PER DWELLING  UNIT  IN  THE  ASSISTED
RENTAL  HOUSING,  AND  SHALL  ALSO PAY TO A TENANT ASSOCIATION, OR IF NO
TENANT ASSOCIATION EXISTS, EACH TENANT, OR IF  APPLICABLE,  A  QUALIFIED
ENTITY,  FEES  AND COSTS INCURRED IN BRINGING AN ENFORCEMENT PROCEEDING.
THE TOTAL CIVIL PENALTIES MAY NOT EXCEED ONE  HUNDRED  THOUSAND  DOLLARS
PER  DWELLING  UNIT.  NOTHING  IN  THIS  SECTION SHALL BE INTERPRETED AS
PROHIBITING THE TENANT ASSOCIATION, OR IF NO TENANT ASSOCIATION  EXISTS,
THE  TENANTS, OR IF APPLICABLE, A QUALIFIED ENTITY, FROM SEEKING INJUNC-
TIVE RELIEF AGAINST A NON-COMPLIANT  OWNER.  SUCH  PROCEEDING  SHALL  BE
BROUGHT IN A COURT OF COMPETENT JURISDICTION.
  S 38-K. EXCLUSIONS. 1. NOTHING IN THIS ARTICLE SHALL AFFECT ANY EXIST-
ING  AGREEMENT  BETWEEN  A TENANT ASSOCIATION AND AN OWNER REGARDING THE
MANAGEMENT AND OPERATION OF THE ASSISTED RENTAL HOUSING OR THE  TRANSFER
OF THE ASSISTED RENTAL HOUSING TO A TENANT ASSOCIATION OR SIMILAR ORGAN-
IZATION IN EFFECT ON THE EFFECTIVE DATE OF THIS ARTICLE, EXCEPT THAT ANY
RENEWAL,  MODIFICATION  OR  AMENDMENT  OF SUCH AGREEMENT OCCURRING ON OR
AFTER THE EFFECTIVE DATE  OF  THIS  ARTICLE  SHALL  BE  SUBJECT  TO  THE
PROVISIONS OF THIS ARTICLE.
  2. NOTHING IN THIS ARTICLE SHALL AFFECT ANY EXISTING AGREEMENT BETWEEN
AN  OWNER  AND ONE OR MORE GOVERNMENTAL ENTITIES RELATING TO THE MANAGE-
MENT AND OPERATION OF A MULTIPLE DWELLING THAT IS NOT OTHERWISE  SUBJECT
TO THIS CHAPTER OR TO FEDERAL LAW.
  3.  NOTHING  IN  THIS  ARTICLE  SHALL AFFECT AN OWNER OR PURCHASER WHO
WANTS TO REFINANCE IN ORDER TO MAINTAIN  PARTICIPATION  IN  AN  ASSISTED
RENTAL HOUSING PROGRAM.
  4.  THE  PROVISIONS OF THIS ARTICLE SHALL NOT APPLY TO A PURCHASE BY A
GOVERNMENTAL ENTITY IMPLEMENTING ITS POWERS OF EMINENT DOMAIN;  A  JUDI-
CIALLY   SUPERVISED   SALE  OR  TRANSFER  OF  PROPERTY;  ANY  BANKRUPTCY
PROCEEDINGS; OR OPERATION OF LAW.
  5. THE PROVISIONS OF THIS ARTICLE SHALL NOT APPLY WHERE  A  NOTICE  AS
DESCRIBED  IN  SECTION THIRTY-EIGHT-F OF THIS ARTICLE WAS PROPERLY GIVEN

A. 9974                             9

IN ACCORDANCE WITH ANY OTHER APPLICABLE PROVISION OF LAW AND  FORTY-FIVE
OR  FEWER  DAYS REMAIN PRIOR TO THE EXPIRATION OF SUCH APPLICABLE NOTICE
PERIOD.
  6.  THE  PROVISIONS OF THIS ARTICLE SHALL PREVAIL, NOTWITHSTANDING ANY
CONTRARY PROVISIONS OF THIS CHAPTER, THE EMINENT DOMAIN  PROCEDURE  LAW,
OR ANY OTHER LAW.
  S 38-L. JUDICIAL REVIEW. ANY PERSON AGGRIEVED BY AN APPRAISAL DETERMI-
NATION  MADE  PURSUANT  TO SECTION THIRTY-EIGHT-C OF THIS ARTICLE, OR BY
THE FAILURE OF THE DIVISION TO APPROVE A BONA FIDE  OFFER  TO  PURCHASE,
MAY,  WITHIN THIRTY DAYS OF THE APPRAISAL DETERMINATION OR ACTION BY THE
DIVISION, SEEK JUDICIAL REVIEW PURSUANT TO ARTICLE SEVENTY-EIGHT OF  THE
CIVIL  PRACTICE  LAW  AND  RULES  IN THE SUPREME COURT FOR THE COUNTY IN
WHICH THE ASSISTED RENTAL HOUSING IS LOCATED. IN THE EVENT THAT A  COURT
MAY  FIND  THAT  THE APPRAISAL OR ACTION BY THE DIVISION CONSTITUTES THE
EQUIVALENT OF A  TAKING  WITHOUT  JUST  COMPENSATION,  THE  COURT  SHALL
REQUIRE  THAT A NEW APPRAISAL OR DETERMINATION BE MADE. THE TIME PERIODS
SET FORTH IN THIS ARTICLE SHALL BE TOLLED DURING THE PENDENCY OF SUCH  A
PROCEEDING  AND  UNTIL  A  NEW APPRAISAL OR DETERMINATION, IF NEEDED, IS
MADE.
  S 2. This act shall take effect immediately.

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Assembly Bill A9974

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Sponsored By

ROSENTHAL

Archive: Last Bill Status - In Assembly Committee

co-Sponsors

Jonathan Bing

Michael Benedetto

Hakeem Jeffries

Keith L.T. Wright

multi-Sponsors

James F. Brennan

Joan Christensen

Herman D. Farrell

Deborah Glick

2009-A9974 (ACTIVE) - Details

2009-A9974 (ACTIVE) - Summary

2009-A9974 (ACTIVE) - Sponsor Memo

2009-A9974 (ACTIVE) - Bill Text download pdf

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