S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    221
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 4, 2023
                                ___________
 
 Introduced  by  Sens.  MYRIE,  BAILEY,  BRISPORT, BROUK, CLEARE, COONEY,
   HINCHEY, HOYLMAN, JACKSON, MAY, RAMOS, RIVERA, SALAZAR --  read  twice
   and ordered printed, and when printed to be committed to the Committee
   on Housing, Construction and Community Development

 AN  ACT  to  amend  the  real  property  actions and proceedings law, in
   relation to establishing the tenant opportunity to purchase act
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Short  title. This act shall be known and may be cited as
 the "tenant opportunity to purchase act".
   § 2. Legislative findings. The  legislature  finds  that  there  is  a
 significant  unmet need for affordable housing for low-income people and
 families. Almost half of all New York State tenants -- in both urban and
 suburban areas -- are rent-burdened. In the Hudson Valley and the South-
 ern Tier, and in non-municipal Green and Suffolk counties, more than 60%
 of New Yorkers are paying over 30% of their income  toward  rent.  More-
 over,  between  2012  and  2017,  New  York State lost more than 160,000
 affordable rental homes, almost 55,000 of them outside of New York City,
 Westchester and Long Island. This has led to an increase in  an  already
 escalating  homelessness  crisis.  According to HUD's 2019 Point in Time
 Estimate, approximately 79,000 people were homeless in New York State.
   The legislature recognizes that New York's rental housing  market  has
 become  even  more  threatened  by  the  outbreak  of novel coronavirus,
 COVID-19, which, as of the date of this  legislation,  created  destabi-
 lized  housing,  loss  of employment and income, closure of business and
 schools and financial insecurity in the state of New York. The  legisla-
 ture finds that the loss of employment, illness and deaths caused by the
 COVID-19  outbreak have rendered many individuals and families unable to
 pay for the costs of housing and other life necessities. U.S.    Census'
 Household  Pulse  survey shows that in the last week of May 2020, 29% of
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD01986-01-3
 S. 221                              2
 
 all NYS tenants showed little to no confidence in  being  able  to  make
 their June rent payment. The share was higher among Black tenants (41%),
 Latinx tenants (41%) and tenants earning less than $50K (34%).
   The  legislature  finds  that the sudden decline in rent payments as a
 result of COVID-19--particularly on properties overloaded with  debt  --
 coupled  with  the ensuing economic recession will lead to evictions and
 speculation, resulting in the loss of vital and irreplaceable affordable
 housing as well as the decline  in  affordable  community-ownership  and
 home-ownership  opportunities  for  New Yorkers. This was evident in the
 Great Recession of 2008. Before and in the immediate aftermath  of  that
 crisis,  multinational  private  equity  firms had access to capital and
 low-interest rates at a time when many New Yorkers were  losing  employ-
 ment  and  income.    With that uneven access, they were able to enter a
 modest and localized  multi-family  rental  market,  purchasing  100,000
 units in New York City alone, which represented 10% of all rent-regulat-
 ed  housing.  Only  a few years after the crisis, between 2014 and 2017,
 rents for vacant units increased 29.9% above inflation, exacerbating  an
 existing housing and homelessness crisis and displacing tenants in crit-
 ical need of affordable housing.
   The  legislature  further  finds  that  in  order to prevent increased
 displacement of lower-income tenants and preserve New York's  affordable
 housing  market, it is necessary and appropriate to require that, in the
 cases defined herein, owners of rental properties  in  the  State  offer
 tenants  the  first opportunity to purchase and qualified purchasers the
 second opportunity to purchase the property before it may be sold on the
 market to a third-party purchaser.
   The legislature further finds that such action is necessary  in  order
 to  prevent  exactions  of  unjust,  unreasonable  and oppressive rental
 agreements and evictions, and to forestall profiteering, speculation and
 other disruptive practices tending to produce further threats to  public
 health;  that  the normal market of free bargaining between landlord and
 tenant, while still the objective of state policy, must be  administered
 with  due regard for the uncertainty, hardship and dislocation caused by
 the current health, housing and unemployment crises.
   The legislature therefore declares that the provisions of this act are
 necessary and designed to protect the public health, safety and  general
 welfare  of New Yorkers, as well as the economic stability and viability
 of neighborhoods.
   § 3. The real property actions  and  proceedings  law  is  amended  by
 adding a new article 7-D to read as follows:
                                ARTICLE 7-D
                    TENANT OPPORTUNITY TO PURCHASE ACT
 SECTION 799.   DEFINITIONS.
         799-A. AUTHORITY.
         799-B. APPLICABILITY.
         799-C. EXEMPTIONS.
         799-D. FIRST RIGHT TO PURCHASE.
         799-E. TENANT DECISION-MAKING; TENANT ORGANIZATIONS.
         799-F. QUALIFIED PURCHASERS.
         799-G. SUPPORTIVE PARTNERS.
         799-H. ASSIGNMENT OF RIGHTS.
         799-I. WAIVER OF RIGHTS.
         799-J. NOTICE REQUIREMENTS.
         799-K. RIGHT OF FIRST OFFER.
         799-L. RIGHT OF FIRST REFUSAL.
         799-M. THIRD-PARTY RIGHTS.
 S. 221                              3
 
         799-N. RIGHT TO APPRAISAL.
         799-O. PURCHASE CONTRACT NEGOTIATION.
         799-P. NO SELLING OF RIGHTS.
         799-Q. TENANT PROTECTIONS.
         799-R. PRICE STABILIZATION.
         799-S. INCENTIVES.
         799-T. ENFORCEMENT.
         799-U. STATUTORY CONSTRUCTION.
         799-V. ADMINISTRATION AND REPORTS.
         799-W. SEVERABILITY.
 
   §  799.  DEFINITIONS.  FOR THE PURPOSES OF THIS ARTICLE, THE FOLLOWING
 TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   1. "AMI" OR "AREA MEDIAN INCOME" MEANS AREA MEDIAN INCOME  ESTABLISHED
 BY  THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD), PURSUANT
 TO 42 U.S.C. § 1427 ET SEQ., TO ESTABLISH  LOCAL  INCOME  CLASSIFICATION
 LEVELS.
   2.  "APPRAISED  VALUE"  MEANS THE VALUE OF THE RENTAL HOUSING ACCOMMO-
 DATION AS OF THE DATE OF THE APPRAISAL, BASED ON AN OBJECTIVE, INDEPEND-
 ENT PROPERTY VALUATION, PERFORMED ACCORDING  TO  PROFESSIONAL  APPRAISAL
 INDUSTRY STANDARDS.
   3. "BONA FIDE OFFER OF SALE" MEANS AN OFFER OF SALE FOR A RENTAL HOUS-
 ING ACCOMMODATION THAT IS EITHER:
   (A)  FOR  A  PRICE AND OTHER MATERIAL TERMS AT LEAST AS FAVORABLE TO A
 TENANT, TENANT ORGANIZATION, AND QUALIFIED PURCHASER AS THOSE  THAT  THE
 OWNER  HAS  OFFERED,  ACCEPTED, OR IS CONSIDERING OFFERING OR ACCEPTING,
 FROM A PURCHASER IN AN ARM'S LENGTH THIRD-PARTY PURCHASE CONTRACT; OR
   (B) IN THE ABSENCE OF AN ARM'S LENGTH THIRD-PARTY  PURCHASE  CONTRACT,
 AN  OFFER OF SALE CONTAINING A SALES PRICE LESS THAN OR EQUAL TO A PRICE
 AND OTHER MATERIAL TERMS COMPARABLE TO THAT AT WHICH  A  WILLING  SELLER
 AND  A WILLING BUYER WOULD SELL AND PURCHASE THE RENTAL HOUSING ACCOMMO-
 DATION, OR AN APPRAISED VALUE.
   4. "CPI" OR "CONSUMER PRICE INDEX"  MEANS  THE  CONSUMER  PRICE  INDEX
 PUBLISHED  BY  THE  UNITED  STATES  DEPARTMENT OF LABOR, BUREAU OF LABOR
 STATISTICS FOR THE  NORTHEAST  CENSUS  REGION.  IF  PUBLICATION  OF  THE
 CONSUMER  PRICE  INDEX  CEASES,  OR IF IT IS OTHERWISE UNAVAILABLE OR IS
 ALTERED IN A WAY AS TO BE UNUSABLE, HCR SHALL DETERMINE THE  USE  OF  AN
 APPROPRIATE  SUBSTITUTE  INDEX PUBLISHED BY THE UNITED STATES DEPARTMENT
 OF LABOR, BUREAU OF LABOR STATISTICS OR ANY SUCCESSOR AGENCY.
   5. "COMMUNITY LAND TRUST"  MEANS  A  NONPROFIT  CORPORATION  ORGANIZED
 PURSUANT  TO  SECTION 501 (C) (3) OF THE U.S. INTERNAL REVENUE CODE THAT
 SATISFIES ALL OF THE FOLLOWING CRITERIA:
   (A) SUCH NONPROFIT CORPORATION'S PRIMARY PURPOSE IS THE  CREATION  AND
 MAINTENANCE OF PERMANENTLY AFFORDABLE SINGLE-FAMILY OR MULTIFAMILY RESI-
 DENCES;
   (B)  ALL DWELLINGS AND UNITS ON THE LAND OWNED BY THE NONPROFIT CORPO-
 RATION ARE SOLD TO A QUALIFIED OWNER TO BE  OCCUPIED  AS  THE  QUALIFIED
 OWNER'S  PRIMARY  RESIDENCE  OR  RENTED  TO  PERSONS AND FAMILIES OF LOW
 INCOME AS DEFINED IN SUBDIVISION TEN OF SECTION TWELVE  OF  THE  PRIVATE
 HOUSING FINANCE LAW; AND
   (C)  THE  LAND OWNED BY THE NONPROFIT CORPORATION, ON WHICH A DWELLING
 OR UNIT SOLD TO A QUALIFIED OWNER IS SITUATED, IS LEASED BY SUCH  CORPO-
 RATION  TO  THE QUALIFIED OWNER FOR THE CONVENIENT OCCUPATION AND USE OF
 SUCH DWELLING OR UNIT FOR A RENEWABLE TERM OF NINETY-NINE YEARS.
   5-A. "DAYS" SHALL MEAN BUSINESS DAYS UNLESS OTHERWISE INDICATED.
 S. 221                              4
 
   6. "GOVERNING DOCUMENT" MEANS A CONSTITUTION, ARTICLES, BYLAWS,  OPER-
 ATING AGREEMENT, OR OTHER WRITINGS THAT GOVERN THE PURPOSE AND OPERATION
 OF  A TENANT ORGANIZATION AND THE RIGHTS AND OBLIGATIONS OF ITS MEMBERS,
 WHICH SHALL INCLUDE PROVISIONS ON THE  TENANT  ORGANIZATION'S  DECISION-
 MAKING  PROCESSES AND APPOINTING OFFICERS AND OTHER AUTHORIZED AGENTS TO
 ACT ON ITS BEHALF.
   7. "GOVERNING PRINCIPLES" MEANS THE GOVERNANCE AND MANAGEMENT  PRINCI-
 PLES STATED IN A TENANT ORGANIZATION'S GOVERNING DOCUMENTS.
   8.  "HCR"  MEANS  NEW  YORK  STATE HOMES AND COMMUNITY RENEWAL, OR ITS
 SUCCESSOR AGENCY.
   9. "HIGHEST AND BEST USE" MEANS THE REASONABLY PROBABLE LEGAL USE OF A
 PROPERTY THAT  IS  PHYSICALLY  POSSIBLE,  APPROPRIATELY  SUPPORTED,  AND
 FINANCIALLY  FEASIBLE AND THAT RESULTS IN THE HIGHEST VALUE OF THE PROP-
 ERTY.
   10. "LIMITED EQUITY HOUSING COOPERATIVE" MEANS A LIMITED EQUITY  COOP-
 ERATIVE ORGANIZED AS A NONPROFIT HOUSING DEVELOPMENT FUND COMPANY PURSU-
 ANT TO ARTICLE ELEVEN OF THE PRIVATE HOUSING FINANCE LAW.
   11.  "MAJORITY"  MEANS  AN AFFIRMATIVE VOTE OF MORE THAN FIFTY PERCENT
 REQUIRED FOR DECISION-MAKING UNDER THIS ARTICLE.
   12. "MATTER-OF-RIGHT" MEANS A LAND USE, DEVELOPMENT DENSITY, OR STRUC-
 TURAL DIMENSION TO WHICH A PROPERTY OWNER IS ENTITLED BY CURRENT  ZONING
 REGULATIONS OR LAW.
   13.  "OWNER"  MEANS  ONE  OR  MORE  PERSONS, CORPORATION, PARTNERSHIP,
 LIMITED LIABILITY COMPANY, TRUSTEE, OR ANY  OTHER  ENTITY,  WHO  IS  THE
 OWNER  OF RECORD OF A RENTAL HOUSING ACCOMMODATION AT THE TIME OF GIVING
 NOTICE OF INTENTION TO SELL, AND EACH PERSON, CORPORATION,  PARTNERSHIP,
 LIMITED  LIABILITY  COMPANY, TRUSTEE, OR ANY OTHER ENTITY, WHO, DIRECTLY
 OR INDIRECTLY, OWNS FIFTY PERCENT OR MORE OF  THE  EQUITY  INTERESTS  IN
 SUCH RENTAL HOUSING ACCOMMODATION AT THE TIME OF GIVING NOTICE OF INTEN-
 TION  TO  SELL.  FOR  PURPOSES OF COMPLYING WITH THE NOTICE REQUIREMENTS
 DESCRIBED IN THIS ARTICLE, "OWNER" MAY REFER TO ANY PERSON ACTING AS  AN
 AUTHORIZED AGENT OF THE OWNER.
   14. "PERMANENT AFFORDABILITY" MEANS THAT FUTURE RENTS AND FUTURE SALES
 PRICES  OF  A RENTAL HOUSING ACCOMMODATION, OR SEPARATE OWNERSHIP INTER-
 ESTS IN SUCH RENTAL HOUSING ACCOMMODATION, SHALL BE MADE  AFFORDABLE  TO
 HOUSEHOLDS WITH TARGETED INCOME LEVELS.
   15.  "PURCHASE CONTRACT", A BINDING WRITTEN AGREEMENT WHEREBY AN OWNER
 AGREES TO SELL PROPERTY INCLUDING, WITHOUT LIMITATION,  A  PURCHASE  AND
 SALE  AGREEMENT,  CONTRACT  OF  SALE,  PURCHASE  OPTION OR OTHER SIMILAR
 INSTRUMENT.
   16. "QUALIFIED PURCHASER" MEANS  A  QUALIFIED  PURCHASER  MEETING  THE
 CRITERIA  DESCRIBED IN SECTION SEVEN HUNDRED NINETY-NINE-F OF THIS ARTI-
 CLE.
   17. "RENT" SHALL HAVE THE SAME MEANING AS IN SECTION SEVEN HUNDRED TWO
 OF THIS CHAPTER.
   18. "RENTAL AGREEMENT" MEANS AN AGREEMENT, ORAL, WRITTEN  OR  IMPLIED,
 BETWEEN  AN  OWNER  AND  A TENANT FOR USE OR OCCUPANCY OF A UNIT AND FOR
 HOUSING SERVICES.
   19. "RENTAL HOUSING ACCOMMODATION" MEANS ANY REAL PROPERTY,  INCLUDING
 THE  LAND  APPURTENANT  THERETO, CONTAINING ONE OR MORE RENTAL UNITS AND
 LOCATED IN NEW YORK STATE.
   20. "RENTAL UNIT" OR "UNIT" MEANS  ANY  UNIT  IN  ANY  REAL  PROPERTY,
 INCLUDING  THE  LAND APPURTENANT THERETO, THAT IS AVAILABLE FOR RENT FOR
 RESIDENTIAL USE OR OCCUPANCY, LOCATED IN NEW YORK STATE,  TOGETHER  WITH
 ALL HOUSING SERVICES CONNECTED WITH THE USE OR OCCUPANCY OF SUCH PROPER-
 S. 221                              5
 
 TY  SUCH AS COMMON AREAS AND RECREATIONAL FACILITIES HELD OUT FOR USE BY
 THE TENANT.
   21.  "SALE" OR "SELL" MEANS THE TRANSFER, IN EXCHANGE FOR MONEY OR ANY
 OTHER THING OF ECONOMIC VALUE, OF A PRESENT INTEREST IN THE RENTAL HOUS-
 ING ACCOMMODATION, INCLUDING BENEFICIAL USE,  WHERE  THE  VALUE  OF  THE
 PRESENT  INTEREST  IS  THE  FEE  INTEREST IN THE RENTAL HOUSING ACCOMMO-
 DATION, OR SUBSTANTIALLY EQUAL TO THE VALUE OF THAT  FEE  INTEREST.  FOR
 PURPOSES OF THIS DEFINITION, A "TRANSFER" MAY INCLUDE THOSE COMPLETED IN
 ONE TRANSACTION OR A SERIES OF TRANSACTIONS OVER A PERIOD OF TIME.
   22.  "SINGLE  FAMILY  HOME"  MEANS  ANY  RENTAL  HOUSING ACCOMMODATION
 COMPRISED OF NO MORE THAN ONE RENTAL UNIT, WHETHER  OR  NOT  THE  RENTAL
 UNIT  HAS  ONE  OR  MORE  TENANT  HOUSEHOLDS. A SINGLE FAMILY HOME SHALL
 INCLUDE A CONDOMINIUM DWELLING.
   23. "SUPPORTIVE PARTNER" MEANS  A  "SUPPORTIVE  PARTNER"  MEETING  THE
 CRITERIA  SET FORTH IN SECTION SEVEN HUNDRED NINETY-NINE-G OF THIS ARTI-
 CLE.
   24. "TENANT" MEANS ONE OR MORE RENTER, TENANT, SUBTENANT, LESSEE,  SUB
 LESSEE,  OR OTHER PERSON ENTITLED TO THE POSSESSION, OCCUPANCY, OR BENE-
 FITS OF A RENTAL UNIT WITHIN A RENTAL  HOUSING  ACCOMMODATION.  "TENANT"
 SHALL  NOT  INCLUDE  TRANSIENT  GUESTS WHO USE OR OCCUPY A UNIT FOR LESS
 THAN FOURTEEN CONSECUTIVE DAYS.
   25. "TENANT HOUSEHOLD" MEANS ONE  OR  MORE  TENANTS,  WHETHER  OR  NOT
 RELATED  BY  BLOOD,  MARRIAGE  OR ADOPTION, SHARING A DWELLING UNIT IN A
 LIVING ARRANGEMENT USUALLY CHARACTERIZED  BY  SHARING  LIVING  EXPENSES,
 SUCH  AS RENT OR MORTGAGE PAYMENTS, FOOD COSTS AND UTILITIES, AS WELL AS
 MAINTAINING A SINGLE LEASE OR RENTAL AGREEMENT FOR ALL  MEMBERS  OF  THE
 HOUSEHOLD  AND  OTHER  SIMILAR  CHARACTERISTICS  INDICATIVE  OF A SINGLE
 HOUSEHOLD.
   26. "TENANT-OCCUPIED UNIT" MEANS ANY RENTAL UNIT CURRENTLY OCCUPIED BY
 ONE OR MORE TENANTS.
   27. "TENANT ORGANIZATION" MEANS TENANTS WHO HAVE ORGANIZED  THEMSELVES
 AS A LEGAL ENTITY THAT:
   (A) CAN ACQUIRE AN INTEREST IN REAL PROPERTY;
   (B) REPRESENTS AT LEAST A MAJORITY OF THE TENANT-OCCUPIED RENTAL UNITS
 IN  A  RENTAL HOUSING ACCOMMODATION AS OF THE DATE OF THE OWNER'S NOTICE
 OF INTENT TO SELL PURSUANT TO SECTION  SEVEN  HUNDRED  NINETY-NINE-K  OF
 THIS ARTICLE;
   (C) HAS ADOPTED A GOVERNING DOCUMENT AND GOVERNING PRINCIPLES; AND
   (D)  HAS  APPOINTED  OFFICERS  AND ANY OTHER AUTHORIZED AGENTS SPECIF-
 ICALLY DESIGNATED TO EXECUTE CONTRACTS OR ACT ON ITS BEHALF.
   28. "THIRD-PARTY PURCHASER" MEANS ANY PERSON OR ENTITY  OTHER  THAN  A
 TENANT,  TENANT ORGANIZATION, OR QUALIFIED PURCHASER, ENGAGED OR SEEKING
 TO ENGAGE, IN PURCHASING A RENTAL HOUSING ACCOMMODATION  FROM  AN  OWNER
 UNDER THIS ARTICLE.
   29.  "TOPA  BUYER"  MEANS  A TENANT, TENANT ORGANIZATION, OR QUALIFIED
 PURCHASER THAT IS PURCHASING OR HAS PURCHASED A RENTAL HOUSING  ACCOMMO-
 DATION FROM AN OWNER UNDER THIS ARTICLE.
   30. "UNDER THREAT OF EMINENT DOMAIN" REFERS TO THE COMMENCEMENT OF THE
 PROCESS  OF  EMINENT DOMAIN, INCLUDING BUT NOT LIMITED TO, ANY FORMAL OR
 INFORMAL CONTACT WITH THE OWNER BY THE GOVERNMENT OR  GOVERNMENT  AGENTS
 REGARDING  THE POTENTIAL OR ONGOING ASSERTION OF EMINENT DOMAIN, AND ANY
 HEARINGS OR COURT PROCEEDINGS REGARDING THE SAME.
   § 799-A. AUTHORITY. HCR AND THEIR DESIGNEES  SHALL  BE  AUTHORIZED  TO
 ENFORCE  THE  PROVISIONS  OF  THIS ARTICLE, AND FOR SUCH PURPOSES, SHALL
 HAVE THE POWERS OF A LAW ENFORCEMENT OFFICER. HCR SHALL BE AUTHORIZED TO
 ESTABLISH STANDARDS, POLICIES, AND PROCEDURES FOR THE IMPLEMENTATION  OF
 S. 221                              6
 
 THE  PROVISIONS OF THIS ARTICLE TO FURTHER THE PURPOSE SET FORTH IN THIS
 ARTICLE.
   §  799-B. APPLICABILITY. TOPA SHALL APPLY TO ALL RENTAL HOUSING ACCOM-
 MODATIONS UNLESS OTHERWISE EXEMPTED BY THIS ARTICLE.
   § 799-C. EXEMPTIONS. 1. RESIDENTIAL  PROPERTY  TYPES  EXEMPTED.    THE
 FOLLOWING RESIDENTIAL PROPERTIES SHALL NOT BE CONSIDERED COVERED PROPER-
 TIES FOR PURPOSES OF THIS ARTICLE:
   (A) PROPERTIES OWNED BY THE MUNICIPAL, STATE, OR FEDERAL GOVERNMENTS.
   (B)  PROPERTIES  OWNED  BY AND OPERATED AS A HOSPITAL, CONVENT, MONAS-
 TERY, EXTENDED CARE FACILITY, CONVALESCENT HOME, OR DORMITORIES OWNED BY
 EDUCATIONAL INSTITUTIONS.
   (C) SINGLE-UNIT PROPERTIES THAT ARE NOT OWNED BY A  CORPORATION  OR  A
 LIMITED LIABILITY COMPANY IN WHICH AT LEAST ONE MEMBER IS A CORPORATION.
   (D) PROPERTIES PROPERLY LICENSED AS A HOTEL OR MOTEL.
   (E)  RESIDENTIAL  PROPERTIES  THAT AN OWNER IS REFINANCING IN ORDER TO
 MAINTAIN OWNERSHIP OF SUCH PROPERTIES.
   (F) MULTIPLE DWELLING UNITS  OR  GROUPS  OF  MULTIPLE  DWELLING  UNITS
 MANAGED  TOGETHER UNDER THE SAME PRIVATE OWNERSHIP IN WHICH THE MAJORITY
 OF DWELLING UNITS THEREIN THAT WILL CONTINUE TO BE 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:
   (I) ANY PROGRAM CREATED, ADMINISTERED, OR SUPERVISED BY  THE  CITY  OR
 STATE  UNDER ARTICLE TWO, FOUR, OR ELEVEN OF THE PRIVATE HOUSING FINANCE
 LAW, BUT SHALL NOT INCLUDE ANY MULTIPLE DWELLING OWNED OR OPERATED BY  A
 COMPANY  ORGANIZED  UNDER  ARTICLE  TWO  OR  FOUR OF THE PRIVATE HOUSING
 FINANCE LAW THAT WAS OCCUPIED PRIOR TO JANUARY FIRST,  NINETEEN  HUNDRED
 SEVENTY-FOUR;
   (II)  ANY  PROGRAM  PROVIDING  PROJECT-BASED  ASSISTANCE UNDER SECTION
 EIGHT OF THE UNITED STATES HOUSING ACT OF 1937, AS AMENDED; AND
   (III) HOUSING PROGRAMS GOVERNED BY SECTIONS 202, 207, 221,  232,  236,
 OR  811  OF THE FEDERAL NATIONAL HOUSING ACT, 12 U.S.C. 1701 ET SEQ., AS
 AMENDED.
   2. TRANSFERS EXEMPTED. THE FOLLOWING TRANSFERS SHALL BE  EXEMPTED  FOR
 THE PURPOSES OF THIS ARTICLE:
   (A)  AN  INTER-VIVOS  TRANSFER,  EVEN WHEN TRANSFERRED IN EXCHANGE FOR
 CONSIDERATION, BETWEEN SPOUSES, DOMESTIC  PARTNERS,  PARENT  AND  CHILD,
 SIBLINGS, GRANDPARENT AND GRANDCHILD.
   (B) A TRANSFER FOR CONSIDERATION, BY A DECEDENT'S ESTATE TO MEMBERS OF
 THE  DECEDENT'S  FAMILY  IF  THE CONSIDERATION ARISING FROM THE TRANSFER
 WILL PASS FROM THE DECEDENT'S ESTATE TO, OR SOLELY FOR THE  BENEFIT  OF,
 CHARITY.  FOR  THE  PURPOSES OF THIS PARAGRAPH, THE TERM "MEMBERS OF THE
 DECEDENT'S FAMILY" SHALL INCLUDE:
   (I) A SPOUSE, DOMESTIC PARTNER,  PARENT,  CHILD,  GRANDPARENT,  GRAND-
 CHILD; AND
   (II)  A  TRUST  FOR THE PRIMARY BENEFIT OF A SPOUSE, DOMESTIC PARTNER,
 PARENT, CHILD, GRANDPARENT, OR GRANDCHILD.
   (C) A TRANSFER OF BARE LEGAL TITLE INTO  A  REVOCABLE  TRUST,  WITHOUT
 ACTUAL  CONSIDERATION  FOR  THE  TRANSFER,  WHERE  THE TRANSFEROR IS THE
 CURRENT BENEFICIARY OF THE TRUST.
   (D) A TRANSFER TO A NAMED BENEFICIARY OF A REVOCABLE TRUST  BY  REASON
 OF THE DEATH OF THE GRANTOR OF THE REVOCABLE TRUST.
   (E) A TRANSFER PURSUANT TO COURT ORDER OR COURT-APPROVED SETTLEMENT.
   (F) A TRANSFER BY EMINENT DOMAIN OR UNDER THREAT OF EMINENT DOMAIN.
 S. 221                              7

   (G)  A  TRANSFER OF A RESIDENTIAL BUILDING TO A TENANT ORGANIZATION OR
 QUALIFIED PURCHASER PURSUANT TO A TRANSFER AGREEMENT 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.
   3.  EXEMPTION PROCEDURES AND BURDEN OF PROOF.  (A) THE BURDEN OF PROOF
 TO ESTABLISH THAT A PROPERTY TYPE OR PLANNED TRANSACTION IS EXEMPT UNDER
 THIS ARTICLE SHALL BE ON THE OWNER OF THE RENTAL HOUSING ACCOMMODATION.
   (B) THE OWNER OF A RENTAL HOUSING ACCOMMODATION WHO BELIEVES THAT THEY
 SHOULD BE GRANTED AN EXEMPTION UNDER  THIS  ARTICLE  SHALL  COMPLY  WITH
 PROCEDURES THAT HCR SHALL CREATE FOR CLAIMING SUCH AN EXEMPTION.
   4.  VOLUNTARY  ELECTION  TO  PARTICIPATE.  AN  OWNER WHOSE PROPERTY OR
 PLANNED TRANSACTION IS EXEMPT FROM THIS  ARTICLE  PURSUANT  TO  SECTIONS
 SEVEN HUNDRED NINETY-NINE-B OR SEVEN HUNDRED NINETY-NINE-C OF THIS ARTI-
 CLE  MAY ELECT TO SUBJECT HIS OR HER PROPERTY TO THIS ARTICLE BY COMPLY-
 ING WITH PROCEDURES  THAT  HCR  SHALL  PROMULGATE  THROUGH  REGULATIONS,
 PROVIDED  THAT THE OWNER WHO VOLUNTARILY SUBJECTS HIS OR HER PROPERTY TO
 THIS ARTICLE SHALL COMPLY WITH THIS ARTICLE IN ITS ENTIRETY. EACH TENANT
 LIVING IN SUCH PROPERTY SHALL BE GRANTED ALL OF THE RIGHTS DESCRIBED  IN
 THIS  ARTICLE,  INCLUDING  THE OPPORTUNITY TO DECIDE WHETHER TO EXERCISE
 THEIR FIRST RIGHT OF PURCHASE UNDER SECTION SEVEN HUNDRED  NINETY-NINE-D
 OF  THIS ARTICLE. NO OWNER SHALL BE ELIGIBLE FOR INCENTIVES DESCRIBED IN
 SECTION SEVEN HUNDRED NINETY-NINE-T OF THIS  ARTICLE  WITHOUT  COMPLYING
 WITH THIS ARTICLE IN ITS ENTIRETY.
   §  799-D.  FIRST RIGHT TO PURCHASE. THIS SECTION SHALL BE CONSTRUED TO
 CONFER UPON EACH TENANT A FIRST  RIGHT  TO  PURCHASE  A  RENTAL  HOUSING
 ACCOMMODATION,  SUBJECT TO THE EXEMPTIONS IN SECTION SEVEN HUNDRED NINE-
 TY-NINE-C OF THIS ARTICLE, IN A MANNER CONSISTENT WITH THIS SECTION. THE
 FIRST RIGHT TO PURCHASE SHALL CONSIST OF BOTH A RIGHT OF FIRST OFFER, AS
 SET FORTH IN SECTION SEVEN HUNDRED NINETY-NINE-K OF THIS ARTICLE, AND  A
 RIGHT  OF  FIRST  REFUSAL, AS SET FORTH IN SECTION SEVEN HUNDRED NINETY-
 NINE-L OF THIS ARTICLE. THE FIRST RIGHT TO PURCHASE SHALL  BE  CONFERRED
 TO  EACH  TENANT BUT SHALL BE EXERCISED COLLECTIVELY PURSUANT TO SECTION
 SEVEN HUNDRED NINETY-NINE-E OF THIS ARTICLE. THE FIRST RIGHT TO PURCHASE
 SHALL INCLUDE THE RIGHT TO ASSIGN SUCH RIGHTS TO A  QUALIFIED  PURCHASER
 AS SET FORTH IN SECTION SEVEN HUNDRED NINETY-NINE-H OF THIS ARTICLE. THE
 FIRST  RIGHT  TO  PURCHASE SHALL BE CONFERRED WHERE THE OWNER INTENDS TO
 SELL THE RENTAL HOUSING  ACCOMMODATION.    THIS  SECTION  SHALL  NOT  BE
 CONSTRUED  TO  LIMIT  ANY RIGHT OF FIRST OFFER OR FIRST REFUSAL PROVIDED
 UNDER ANY LAW.
   § 799-E. TENANT DECISION-MAKING;  TENANT  ORGANIZATIONS.  1.    TENANT
 DECISION-MAKING.    EXCEPT IN THE CASE OF A DULY FORMED TENANT ORGANIZA-
 TION WITH ITS OWN ADOPTED GOVERNING DOCUMENT,  ANY  ACTION  REQUIRED  OF
 TENANTS  UNDER  THIS  ARTICLE  SHALL BE APPROVED BY ONE OF THE FOLLOWING
 DECISION-MAKING STANDARDS:
   (A) IN THE CASE OF A RENTAL HOUSING ACCOMMODATION WITH MORE  THAN  ONE
 TENANT-OCCUPIED UNIT, AT LEAST A MAJORITY OF TENANT-OCCUPIED UNITS.
   (B)  IN  THE  CASE  OF  A  RENTAL  HOUSING ACCOMMODATION WITH ONLY ONE
 TENANT-OCCUPIED UNIT BUT MULTIPLE TENANT HOUSEHOLDS, AT LEAST A MAJORITY
 OF TENANT HOUSEHOLDS.
   (C) IN THE CASE OF A RENTAL HOUSING ACCOMMODATION WITH ONLY ONE TENANT
 HOUSEHOLD, THE TENANT HOUSEHOLD.
   2. TENANT ORGANIZATIONS. (A) IN ORDER TO SUBMIT AN OFFER  OF  PURCHASE
 PURSUANT  TO  SECTION  SEVEN  HUNDRED  NINETY-NINE-K OF THIS ARTICLE AND
 RESPOND TO THE OWNER'S OFFER OF SALE PURSUANT TO SECTION  SEVEN  HUNDRED
 NINETY-NINE-L OF THIS ARTICLE, TENANTS SHALL:
 S. 221                              8
 
   (I) FORM A TENANT ORGANIZATION, APPROVED BY THE REQUIREMENTS DESCRIBED
 IN  SUBDIVISION  ONE  OF THIS SECTION, UNLESS SUCH A TENANT ORGANIZATION
 ALREADY EXISTS IN A FORM APPROVED BY THE TENANTS. IF THERE IS  ONLY  ONE
 TENANT HOUSEHOLD IN A RENTAL HOUSING ACCOMMODATION, THE TENANT HOUSEHOLD
 MAY EXERCISE THE RIGHT OF FIRST OFFER AND RIGHT OF FIRST REFUSAL WITHOUT
 FORMING  A  TENANT  ORGANIZATION;  HOWEVER,  SUCH TENANT HOUSEHOLD SHALL
 STILL COMPLY WITH SECTION SEVEN HUNDRED NINETY-NINE-G OF THIS ARTICLE.
   (II) SELECT A SUPPORTIVE PARTNER, MEETING THE  CRITERIA  DESCRIBED  IN
 SECTION SEVEN HUNDRED NINETY-NINE-G OF THIS ARTICLE.
   (III)  DELIVER AN APPLICATION FOR REGISTRATION OF THE TENANT ORGANIZA-
 TION, OR THE TENANT HOUSEHOLD, IF APPLICABLE, TO HCR, AND DELIVER A COPY
 OF SUCH APPLICATION TO THE OWNER, BY HAND OR BY  CERTIFIED  MAIL  ON  OR
 BEFORE  THE  DEADLINE  OF  SUBMITTING  AN  OFFER OF PURCHASE PURSUANT TO
 SECTION SEVEN HUNDRED NINETY-NINE-K OF THIS  ARTICLE.  SUCH  APPLICATION
 SHALL INCLUDE:
   (A)  THE  NAME,  ADDRESS,  AND PHONE NUMBER OF TENANT OFFICERS AND THE
 SUPPORTIVE PARTNER;
   (B) A COPY OF THE FORMATION DOCUMENT, AS FILED;
   (C) A COPY OF THE GOVERNING DOCUMENT;
   (D) DOCUMENTED APPROVAL THAT  THE  TENANT  ORGANIZATION  REPRESENTS  A
 MAJORITY  UNDER  PARAGRAPH (A) OR (B) OF SUBDIVISION ONE OF THIS SECTION
 AS OF THE TIME OF REGISTRATION; AND
   (E) SUCH OTHER INFORMATION AS HCR MAY REASONABLY REQUIRE.
   (B) TENANTS MAY FORM AND REGISTER THE  TENANT  ORGANIZATION  WITH  HCR
 PURSUANT  TO  THIS  SUBDIVISION  AT ANY TIME, PROVIDED THAT THIS SECTION
 SHALL NOT BE CONSTRUED TO ALTER THE TIME PERIODS WITHIN WHICH  A  TENANT
 ORGANIZATION MAY EXERCISE THE RIGHTS AFFORDED BY THIS ARTICLE.
   (C)  UPON REGISTRATION WITH HCR, THE TENANT ORGANIZATION SHALL CONSTI-
 TUTE THE SOLE REPRESENTATIVE OF THE TENANTS FOR PURPOSES OF  THIS  ARTI-
 CLE.
   §  799-F.  QUALIFIED  PURCHASERS. 1. QUALIFIED PURCHASER CRITERIA. (A)
 HCR SHALL ESTABLISH AN ADMINISTRATIVE PROCESS FOR CERTIFYING  PURCHASERS
 THAT  SHALL INCLUDE, BUT NOT BE LIMITED TO, THE FOLLOWING MINIMUM CRITE-
 RIA:
   (I) THE PURCHASER IS A BONA FIDE NONPROFIT, AS EVIDENCED BY  THE  FACT
 THAT IT IS EXEMPT FROM FEDERAL INCOME TAX UNDER 26 U.S.C. § 501(C)(3);
   (II) THE PURCHASER HAS DEMONSTRATED A COMMITMENT TO EITHER:
   (III)  DEMOCRATIC  RESIDENTIAL  CONTROL, AS EVIDENCED BY ITS OWNERSHIP
 AND GOVERNANCE STRUCTURE AND RELATIONSHIP WITH RESIDENTS; OR
   (IV) A COMMITMENT TO COMMUNITY ENGAGEMENT, AS EVIDENCED  BY  RELATION-
 SHIPS  WITH NEIGHBORHOOD-BASED ORGANIZATIONS OR TENANT COUNSELING ORGAN-
 IZATIONS;
   (V) THE PURCHASER HAS AGREED TO TRANSFER OWNERSHIP OF THE RENTAL HOUS-
 ING ACCOMMODATION TO THE TENANTS WHEN FEASIBLE IF  ITS  TENANTS  REQUEST
 SUCH TRANSFER OF OWNERSHIP;
   (VI)  THE  PURCHASER HAS DEMONSTRATED A COMMITMENT TO THE PROVISION OF
 AFFORDABLE HOUSING FOR LOW, VERY LOW, AND EXTREMELY LOW INCOME NEW  YORK
 STATE RESIDENTS, AND TO PREVENT THE DISPLACEMENT OF SUCH RESIDENTS;
   (VII)  THE  PURCHASER HAS AGREED TO OBLIGATE ITSELF AND ANY SUCCESSORS
 IN INTEREST TO MAINTAIN THE PERMANENT AFFORDABILITY OF THE RENTAL  HOUS-
 ING   ACCOMMODATION,   IN   ACCORDANCE   WITH   SECTION   SEVEN  HUNDRED
 NINETY-NINE-R OF THIS ARTICLE;
   (VIII) THE PURCHASER HAS DEMONSTRATED THE CAPACITY, INCLUDING, BUT NOT
 LIMITED TO, THE LEGAL AND FINANCIAL CAPACITY, TO EFFECTIVELY ACQUIRE AND
 MANAGE RESIDENTIAL REAL PROPERTY IN NEW YORK STATE;
 S. 221                              9
 
   (IX) THE PURCHASER HAS ACQUIRED  OR  PARTNERED  WITH  ANOTHER  HOUSING
 DEVELOPMENT  ORGANIZATION  OR NONPROFIT ORGANIZATION TO ACQUIRE AT LEAST
 ONE RESIDENTIAL BUILDING USING ANY PUBLIC OR COMMUNITY FUNDING,  OR  HAS
 ENTERED  INTO A WRITTEN MEMORANDUM OF UNDERSTANDING WITH ANOTHER HOUSING
 DEVELOPMENT  ORGANIZATION  OR  NONPROFIT ORGANIZATION FOR THE PURPOSE OF
 PARTNERING WITH A HOUSING DEVELOPMENT ORGANIZATION OR  NONPROFIT  ORGAN-
 IZATION TO ACQUIRE RESIDENTIAL BUILDINGS USING PUBLIC OR COMMUNITY FUND-
 ING; AND
   (X) THE PURCHASER HAS AGREED TO ATTEND MANDATORY TRAINING TO BE DETER-
 MINED, FROM TIME TO TIME, BY HCR.
   (B)  NOTWITHSTANDING  ANY OTHER REQUIREMENT OF THIS ARTICLE, MUNICIPAL
 HOUSING  AUTHORITIES  ESTABLISHED  PURSUANT  TO  THE  MUNICIPAL  HOUSING
 AUTHORITY  LAW  BY ANY COUNTY, CITY, OR FIRST CLASS VILLAGE OF THE STATE
 SHALL BE DEEMED QUALIFIED PURCHASER FOR PURPOSES OF THIS ARTICLE.
   2. CERTIFICATION, TERM, AND RENEWAL. PURCHASERS THAT HCR CERTIFIES  AS
 HAVING  MET  THE  CRITERIA  IN  SUBDIVISION ONE OF THIS SECTION SHALL BE
 KNOWN AS "QUALIFIED PURCHASERS".  A PURCHASER'S CERTIFICATION AS A QUAL-
 IFIED PURCHASER SHALL BE VALID FOR FOUR YEARS.   HCR SHALL  SOLICIT  NEW
 APPLICATIONS  FOR QUALIFIED PURCHASER STATUS AT LEAST ONCE EACH CALENDAR
 YEAR, AT WHICH TIME EXISTING QUALIFIED PURCHASERS SHALL BE  ELIGIBLE  TO
 APPLY FOR RENEWED CERTIFICATION AS QUALIFIED PURCHASERS.
   3.  EXISTENCE AND PUBLICATION OF QUALIFIED PURCHASERS LIST.  HCR SHALL
 PUBLISH ON ITS WEBSITE, AND MAKE AVAILABLE UPON REQUEST, A LIST OF QUAL-
 IFIED PURCHASERS. IN ADDITION TO  SUCH  OTHER  INFORMATION  AS  HCR  MAY
 INCLUDE,  SUCH LIST SHALL INCLUDE CONTACT INFORMATION FOR EACH QUALIFIED
 PURCHASER. SUCH CONTACT INFORMATION  SHALL  INCLUDE,  BUT  NEED  NOT  BE
 LIMITED  TO,  A  MAILING  ADDRESS,  AN E-MAIL ADDRESS THAT THE QUALIFIED
 PURCHASER MONITORS REGULARLY, AND A TELEPHONE NUMBER.
   4. DISQUALIFICATION OF QUALIFIED PURCHASER AND CONFLICTS OF  INTEREST.
 HCR  SHALL  PROMPTLY INVESTIGATE ANY COMPLAINT ALLEGING THAT A QUALIFIED
 PURCHASER HAS FAILED TO COMPLY WITH THIS SECTION. SUBJECT TO REGULATIONS
 PROMULGATED BY HCR, IF, AFTER PROVIDING  THE  QUALIFIED  PURCHASER  WITH
 NOTICE  AND  OPPORTUNITY  TO  BE  HEARD, HCR DETERMINES THAT A PURCHASER
 LISTED AS A QUALIFIED PURCHASER HAS FAILED TO COMPLY WITH THIS  SECTION,
 HCR  MAY SUSPEND OR REVOKE THAT PURCHASER'S CERTIFICATION AS A QUALIFIED
 PURCHASER.  HCR SHALL ESTABLISH A PROCESS FOR ADDRESSING  POTENTIAL  AND
 ACTUAL  CONFLICTS OF INTERESTS THAT MAY ARISE AMONG SUPPORTIVE PARTNERS,
 QUALIFIED PURCHASERS, AND TENANTS THROUGH PROMULGATION OF REGULATIONS.
   § 799-G. SUPPORTIVE PARTNERS. 1. SUPPORTIVE  PARTNER  CRITERIA.    HCR
 SHALL  ESTABLISH AN ADMINISTRATIVE PROCESS FOR CERTIFYING INDIVIDUALS OR
 ORGANIZATIONS THAT MEET THE FOLLOWING MINIMUM CRITERIA:
   (A) THE INDIVIDUAL OR ORGANIZATION HAS DEMONSTRATED ABILITY AND CAPAC-
 ITY TO GUIDE AND SUPPORT TENANTS IN FORMING A TENANT ORGANIZATION;
   (B) THE INDIVIDUAL OR ORGANIZATION HAS DEMONSTRATED ABILITY AND CAPAC-
 ITY TO ASSIST TENANTS IN UNDERSTANDING AND EXERCISING THEIR RIGHTS UNDER
 THIS ARTICLE;
   (C) THE INDIVIDUAL OR  ORGANIZATION  HAS  DEMONSTRATED  EXPERTISE,  OR
 EXISTING  PARTNERSHIPS WITH OTHER ORGANIZATIONS WITH DEMONSTRATED EXPER-
 TISE, TO COUNSEL TENANTS  ON  FIRST-TIME  HOMEOWNERSHIP  AND  COLLECTIVE
 OWNERSHIP STRUCTURES;
   (D)  THE  INDIVIDUAL  OR ORGANIZATION HAS A DEMONSTRATED COMMITMENT TO
 CREATING DEMOCRATIC RESIDENT-CONTROLLED HOUSING; AND
   (E) THE INDIVIDUAL OR ORGANIZATION  HAS  AGREED  TO  ATTEND  MANDATORY
 TRAININGS, TO BE DETERMINED, FROM TIME TO TIME, BY HCR.
   2.  CERTIFICATION,  TERM,  AND  RENEWAL. INDIVIDUALS AND ORGANIZATIONS
 THAT HCR CERTIFIES AS HAVING MET THE CRITERIA IN SUBDIVISION ONE OF THIS
 S. 221                             10
 
 SECTION SHALL BE KNOWN AS "SUPPORTIVE PARTNERS". AN INDIVIDUAL OR ORGAN-
 IZATION'S CERTIFICATION AS A SUPPORTIVE PARTNER SHALL BE VALID FOR  FOUR
 YEARS.  HCR SHALL SOLICIT NEW APPLICATIONS FOR SUPPORTIVE PARTNER STATUS
 AT  LEAST  ONCE  EACH  CALENDAR  YEAR, AT WHICH TIME EXISTING SUPPORTIVE
 PARTNERS SHALL  BE  ELIGIBLE  TO  APPLY  FOR  RENEWED  CERTIFICATION  AS
 SUPPORTIVE PARTNERS.
   3.  PURPOSE OF SUPPORTIVE PARTNER. A SUPPORTIVE PARTNER SHALL FUNCTION
 IN A SUPPORTIVE ROLE TO ASSIST TENANTS IN EXERCISING THEIR RIGHTS  UNDER
 THIS  ARTICLE.  THIS ARTICLE SHALL NOT CONFER ANY RIGHTS TO A SUPPORTIVE
 PARTNER. A  SUPPORTIVE  PARTNER  SHALL  BE  DISTINCT  FROM  A  QUALIFIED
 PURCHASER  THAT  IS  CONFERRED SUBORDINATED RIGHTS UNDER THIS ARTICLE AS
 DESCRIBED IN SECTION SEVEN HUNDRED NINETY-NINE-D OF  THIS  ARTICLE.  HCR
 MAY  DETERMINE  THAT  A  QUALIFIED  PURCHASER DESCRIBED IN SECTION SEVEN
 HUNDRED NINETY-NINE-F OF THIS ARTICLE THAT MEETS THE CRITERIA IN  SUBDI-
 VISION ONE OF THIS SECTION SHALL ALSO BE ELIGIBLE TO SERVE AS A SUPPORT-
 IVE PARTNER. HCR MAY ALSO SERVE AS A SUPPORTIVE PARTNER.
   4.  EXISTENCE  AND  PUBLICATION OF SUPPORTIVE PARTNERS LIST. HCR SHALL
 PUBLISH ON ITS WEBSITE, AND MAKE  AVAILABLE  UPON  REQUEST,  A  LIST  OF
 SUPPORTIVE  PARTNERS.  IN  ADDITION TO SUCH OTHER INFORMATION AS HCR MAY
 INCLUDE, THIS LIST SHALL INCLUDE CONTACT INFORMATION FOR EACH SUPPORTIVE
 PARTNER. SUCH CONTACT INFORMATION SHALL INCLUDE, BUT NEED NOT BE LIMITED
 TO, A MAILING ADDRESS, AN E-MAIL ADDRESS  THAT  THE  SUPPORTIVE  PARTNER
 MONITORS REGULARLY, AND A TELEPHONE NUMBER.
   5.  DISQUALIFICATION  OF SUPPORTIVE PARTNER AND CONFLICTS OF INTEREST.
 HCR SHALL PROMPTLY INVESTIGATE ANY COMPLAINT ALLEGING THAT A  SUPPORTIVE
 PARTNER  HAS  FAILED TO COMPLY WITH THIS SECTION. SUBJECT TO REGULATIONS
 PROMULGATED BY HCR, IF, AFTER  PROVIDING  THE  SUPPORTIVE  PARTNER  WITH
 NOTICE AND OPPORTUNITY TO BE HEARD, HCR DETERMINES THAT AN INDIVIDUAL OR
 ORGANIZATION  LISTED  AS  A SUPPORTIVE PARTNER HAS FAILED TO COMPLY WITH
 THIS SECTION, HCR MAY SUSPEND OR REVOKE  SUCH  INDIVIDUAL  OR  ORGANIZA-
 TION'S  CERTIFICATION  AS  A  SUPPORTIVE  PARTNER. HCR SHALL ESTABLISH A
 PROCESS FOR ADDRESSING POTENTIAL AND ACTUAL CONFLICTS OF INTERESTS  THAT
 MAY  ARISE  AMONG SUPPORTIVE PARTNERS, QUALIFIED PURCHASERS, AND TENANTS
 THROUGH PROMULGATION OF REGULATIONS.
   § 799-H. ASSIGNMENT OF RIGHTS. 1. A TENANT OR TENANT ORGANIZATION  MAY
 ASSIGN  RIGHTS  UNDER THIS SECTION IN COMPLIANCE WITH SUBDIVISION ONE OF
 SECTION SEVEN HUNDRED NINETY-NINE-E TO A QUALIFIED  PURCHASER  OF  THEIR
 CHOICE.
   2. SUBJECT TO REGULATIONS PROMULGATED BY HCR, THE ASSIGNMENT OF RIGHTS
 DESCRIBED  IN  THIS  SECTION  SHALL  OCCUR PRIOR TO THE TENANT OR TENANT
 ORGANIZATION WAIVING THEIR RIGHTS  PURSUANT  TO  SECTION  SEVEN  HUNDRED
 NINETY-NINE-I  OF  THIS ARTICLE, AND ONLY DURING THE PROCESS PROVIDED IN
 SECTION SEVEN HUNDRED NINETY-NINE-K OF THIS ARTICLE.  EXCEPT AS PROVIDED
 IN SECTION SEVEN HUNDRED NINETY-NINE-I OF THIS ARTICLE, THE  WAIVER  AND
 ASSIGNMENT  OF  RIGHTS  SHALL BE MADE IN A WRITTEN AGREEMENT EXECUTED BY
 THE TENANT OR TENANT ORGANIZATION AND THE QUALIFIED PURCHASER.
   3. QUALIFIED PURCHASERS SHALL NOT ACCEPT ANY  PAYMENT,  CONSIDERATION,
 OR REWARD IN EXCHANGE FOR THE ASSIGNMENT OF RIGHTS UNDER THIS SECTION.
   §  799-I.  WAIVER  OF RIGHTS. 1. TENANTS MAY AFFIRMATIVELY WAIVE THEIR
 RIGHTS BEFORE THE TIME PERIODS SPECIFIED IN SECTIONS SEVEN HUNDRED NINE-
 TY-NINE-K AND SEVEN HUNDRED NINETY-NINE-L OF  THIS  ARTICLE  ELAPSE,  BY
 NOTIFYING  THE OWNER IN WRITING, SIGNED BY THE TENANTS AND IN COMPLIANCE
 WITH SECTION SEVEN HUNDRED NINETY-NINE-E OF THIS ARTICLE.
   2. TENANTS' FAILURE TO COMPLETE ACTIONS REQUIRED UNDER SECTIONS  SEVEN
 HUNDRED  NINETY-NINE-K  AND  SEVEN HUNDRED NINETY-NINE-L OF THIS ARTICLE
 S. 221                             11
 
 WITHIN THE ALLOTTED TIME PERIODS, AND ANY EXTENSIONS THEREOF,  SHALL  BE
 DEEMED AN IMPLIED WAIVER OF SUCH TENANTS' RIGHTS.
   §  799-J.  NOTICE  REQUIREMENTS.  ANY NOTICES REQUIRED OR PERMITTED BY
 THIS ARTICLE SHALL ALSO COMPLY WITH REGULATIONS PROMULGATED BY HCR.
   § 799-K. RIGHT OF FIRST OFFER.  1.  GENERAL  CONSTRUCTION.  BEFORE  AN
 OWNER  OF  A  RENTAL HOUSING ACCOMMODATION MAY OFFER SUCH RENTAL HOUSING
 ACCOMMODATION FOR SALE TO, SOLICIT ANY OFFER TO PURCHASE FROM, OR ACCEPT
 ANY UNSOLICITED OFFER TO PURCHASE FROM, ANY THIRD-PARTY PURCHASER,  SUCH
 OWNER  SHALL  GIVE  THE  TENANT OF SUCH RENTAL HOUSING ACCOMMODATION THE
 FIRST OPPORTUNITY TO MAKE AN OFFER AS SET FORTH BY THIS SECTION.
   2. JOINT NOTIFICATION. (A) IN ACCORDANCE WITH  SECTION  SEVEN  HUNDRED
 NINETY-NINE-J OF THIS ARTICLE, THE OWNER SHALL:
   (I)  NOTIFY  EACH TENANT EIGHTEEN YEARS OF AGE AND OVER OF THE OWNER'S
 INTENT TO SELL THE RENTAL HOUSING ACCOMMODATION BY CERTIFIED MAIL AND BY
 POSTING A COPY OF THE NOTICE IN A CONSPICUOUS PLACE IN COMMON  AREAS  OF
 THE RENTAL HOUSING ACCOMMODATION.
   (A)  SUCH  NOTICE  SHALL  BE IN THE TOP THREE LANGUAGES SPOKEN AT HOME
 WITHIN THE PROPERTY'S CENSUS TRACT BASED ON  THE  LATEST  UNITED  STATES
 CENSUS BUREAU'S AMERICAN COMMUNITY SURVEY.
   (B) SUCH NOTICE SHALL INCLUDE, AT A MINIMUM:
   (1)  A  STATEMENT  THAT  THE  OWNER INTENDS TO SELL THE RENTAL HOUSING
 ACCOMMODATION;
   (2) A STATEMENT OF THE RIGHTS OF TENANTS AND QUALIFIED PURCHASERS  AND
 THE ACCOMPANYING TIMELINES DESCRIBED IN THIS SECTION;
   (3)  A  STATEMENT  THAT  THE  OWNER SHALL MAKE THE RELATED DISCLOSURES
 DESCRIBED IN THIS SECTION AVAILABLE TO THE TENANT; AND
   (4) A STATEMENT STATING THAT IF THE TENANT REQUIRES THE  NOTICE  IN  A
 LANGUAGE  NOT  PROVIDED,  THEY CAN CONTACT HCR AND REQUEST THE NOTICE IN
 THEIR REQUESTED LANGUAGE AND/OR THE ASSISTANCE OF AN INTERPRETER.
   (II) NOTIFY HCR OF THE OWNER'S  INTENT  TO  SELL  THE  RENTAL  HOUSING
 ACCOMMODATION  BY SENDING A COPY OF THE NOTICE PROVIDED TO TENANTS TO AN
 E-MAIL ADDRESS DESIGNATED BY HCR AND POSTING THE NOTICE ON A WEBSITE  TO
 BE DESIGNATED BY HCR.
   (B)  HCR  SHALL  UPDATE  THE  WEBSITE AT LEAST DAILY AND SHALL INCLUDE
 DISCLAIMERS TO THE EFFECT THAT (I) WHERE A NOTICE  IS  PROVIDED  ON  THE
 WEBSITE, SUCH NOTICE USUALLY WILL NOT BE PROVIDED IN ANY OTHER MANNER TO
 INDIVIDUALS  OR  ENTITIES  OTHER  THAN TENANTS EIGHTEEN YEARS OF AGE AND
 OVER IN THE RENTAL HOUSING ACCOMMODATION; AND (II) IT IS  THE  RESPONSI-
 BILITY  OF  ANY  PERSON OR ENTITY INTERESTED IN RECEIVING SUCH NOTICE TO
 MONITOR THE WEBSITE FOR SUCH NOTICES.
   3. RELATED DISCLOSURES. WHEN THE  OWNER,  PURSUANT  TO  THIS  SECTION,
 NOTIFIES  EACH  TENANT  AND  QUALIFIED PURCHASER OF ITS INTENT TO SELL A
 RENTAL HOUSING ACCOMMODATION, THE OWNER SHALL ALSO PROVIDE  EACH  TENANT
 AND QUALIFIED PURCHASER WITH THE FOLLOWING INFORMATION, AT MINIMUM:
   (A) A FLOOR PLAN OF THE PROPERTY;
   (B)  AN  ITEMIZED LIST OF MONTHLY OPERATING EXPENSES, UTILITY CONSUMP-
 TION RATES, REAL PROPERTY TAXES AND CAPITAL EXPENDITURES FOR EACH OF THE
 TWO PRECEDING CALENDAR YEARS;
   (C) A LIST OF ANY KNOWN DEFECTS AND HAZARDS, AND ANY RELATED COSTS FOR
 REPAIR;
   (D) THE MOST RECENT RENT ROLL, A LIST OF OCCUPIED UNITS  AND  LIST  OF
 VACANT  UNITS,  INCLUDING  THE RATE OF RENT FOR EACH UNIT, AND ANY ESCA-
 LATIONS AND LEASE EXPIRATIONS;
   (E) COVENANTS, CONDITIONS, AND RESTRICTIONS AND RESERVES, IN THE  CASE
 OF A CONDOMINIUM DWELLING;
   (F) HCR RENT REGISTRATIONS;
 S. 221                             12
 
   (G) REGULATORY AGREEMENTS;
   (H)  ANY MORTGAGES AND NOTES AND ANY DOCUMENTATION OF ANY OTHER FINAN-
 CIAL COMMITMENTS THAT AFFECT THE FINANCIAL OPERATIONS OF  THE  BUILDING,
 INCLUDING BUT NOT LIMITED TO OBLIGATIONS TO EQUITY INVESTORS; AND
   (I)  ANY OTHER DISCLOSURES REQUIRED BY NEW YORK STATE LAW OR HCR REGU-
 LATION.
   4. TIME TO SUBMIT A STATEMENT OF INTEREST. (A)  UPON  RECEIPT  OF  THE
 NOTICE  AND  DISCLOSURES DESCRIBED IN SUBDIVISIONS TWO AND THREE OF THIS
 SECTION, TENANTS SHALL DELIVER ONE STATEMENT OF INTEREST TO THE OWNER ON
 BEHALF OF THE RENTAL HOUSING ACCOMMODATION.
   (B) TENANTS SHALL HAVE TWENTY DAYS IN A RENTAL  HOUSING  ACCOMMODATION
 COMPRISED  OF  ONE  OR  TWO  UNITS,  AND THIRTY DAYS IN A RENTAL HOUSING
 ACCOMMODATION WITH THREE OR MORE UNITS,  TO  DELIVER  THE  STATEMENT  OF
 INTEREST.  TENANTS IN A RENTAL HOUSING ACCOMMODATION WITH THIRTY OR MORE
 UNITS SHALL BE GRANTED ONE EXTENSION OF UP TO FIFTEEN DAYS UPON REQUEST,
 FOR A TOTAL OF FORTY-FIVE DAYS. IF THE TENANTS  WAIVE  THEIR  RIGHTS  IN
 ACCORDANCE  WITH  SECTION  SEVEN  HUNDRED NINETY-NINE-I OF THIS ARTICLE,
 QUALIFIED PURCHASERS SHALL HAVE THE REMAINING TIME OR A MINIMUM OF  FIVE
 DAYS,  WHICHEVER  IS  GREATER, TO DELIVER A STATEMENT OF INTEREST TO THE
 OWNER.
   (C) THE STATEMENT OF INTEREST SHALL BE A  CLEAR  EXPRESSION  FROM  THE
 TENANTS THAT THEY INTEND TO FURTHER CONSIDER MAKING AN OFFER TO PURCHASE
 THE  RENTAL  HOUSING  ACCOMMODATION  OR FURTHER CONSIDER ASSIGNING THEIR
 RIGHTS TO A QUALIFIED PURCHASER.
   (D) THE STATEMENT OF INTEREST SHALL INCLUDE DOCUMENTATION  DEMONSTRAT-
 ING  THAT  THE TENANTS' DECISION WAS SUPPORTED BY THE STANDARD DESCRIBED
 IN SECTION SEVEN HUNDRED NINETY-NINE-E OF THIS ARTICLE.
   (E) IF THE TENANTS WAIVE THEIR RIGHTS IN ACCORDANCE WITH SECTION SEVEN
 HUNDRED NINETY-NINE-I OF THIS ARTICLE, THE OWNER SHALL NOTIFY ALL QUALI-
 FIED PURCHASERS, VIA E-MAIL, ON THE SAME DAY THAT  TENANTS  WAIVE  THEIR
 RIGHTS,  OF  THE RIGHT OF EACH QUALIFIED PURCHASER TO SUBMIT A STATEMENT
 OF INTEREST TO THE OWNER.
   (F) UPON RECEIPT OF THE NOTICE, A QUALIFIED PURCHASER THAT INTENDS  TO
 FURTHER CONSIDER MAKING AN OFFER TO PURCHASE THE RENTAL HOUSING ACCOMMO-
 DATION  SHALL  DELIVER  A  STATEMENT  OF INTEREST TO THE OWNER AND EVERY
 OTHER QUALIFIED PURCHASER VIA E-MAIL WITHIN THE TIME PERIODS PROVIDED BY
 THIS SUBDIVISION.
   (G) THE STATEMENT OF INTEREST SHALL BE A  CLEAR  EXPRESSION  THAT  THE
 QUALIFIED  PURCHASER  INTENDS  TO  FURTHER  CONSIDER  MAKING AN OFFER TO
 PURCHASE THE RENTAL HOUSING ACCOMMODATION.
   (H) IF A QUALIFIED PURCHASER HAS DELIVERED  A  STATEMENT  OF  INTEREST
 CONSISTENT  WITH  THIS  SUBDIVISION, THE OWNER SHALL, SUBJECT TO SEEKING
 TENANT APPROVAL FOR DISCLOSURE OF ANY CONFIDENTIAL OR PERSONAL  INFORMA-
 TION,  DISCLOSE  TO EACH SUCH QUALIFIED PURCHASER, VIA E-MAIL, THE NAMES
 OF TENANTS IN EACH OCCUPIED UNIT OF THE RENTAL HOUSING ACCOMMODATION, AS
 WELL AS ANY AVAILABLE CONTACT INFORMATION FOR EACH TENANT.
   (I) IF TENANTS AND QUALIFIED PURCHASERS DO NOT DELIVER A STATEMENT  OF
 INTEREST  WITHIN  THE  TIME  PERIODS  SPECIFIED IN THIS SUBDIVISION, THE
 OWNER MAY IMMEDIATELY PROCEED TO OFFER THE RENTAL HOUSING  ACCOMMODATION
 FOR SALE TO, AND SOLICIT OFFERS OF PURCHASE FROM, PROSPECTIVE THIRD-PAR-
 TY PURCHASERS, SUBJECT TO THE RIGHT OF FIRST REFUSAL PROVIDED BY SECTION
 SEVEN HUNDRED NINETY-NINE-L OF THIS ARTICLE.
   5.  TIME  TO SUBMIT OFFER. (A) THE FOLLOWING PROCEDURES SHALL APPLY TO
 OFFERS TO PURCHASE A RENTAL HOUSING ACCOMMODATION WITH ONLY  ONE  TENANT
 HOUSEHOLD:
 S. 221                             13
 
   (I)  UPON  RECEIPT  OF A STATEMENT OF INTEREST FROM TENANTS CONSISTENT
 WITH SUBDIVISION FOUR OF THIS SECTION, AN OWNER SHALL AFFORD THE TENANTS
 AN ADDITIONAL TWENTY-ONE DAYS TO SELECT A SUPPORTIVE PARTNER AND  SUBMIT
 AN  OFFER  TO  PURCHASE THE RENTAL HOUSING ACCOMMODATION. IF THE TENANTS
 WAIVE   THEIR   RIGHTS   IN   ACCORDANCE   WITH  SECTION  SEVEN  HUNDRED
 NINETY-NINE-I OF THIS  ARTICLE,  QUALIFIED  PURCHASERS  SHALL  HAVE  THE
 REMAINING  TIME  OR  A  MINIMUM  OF  FIVE DAYS, WHICHEVER IS GREATER, TO
 SUBMIT AN OFFER TO THE OWNER.
   (II) IF THE TENANTS WAIVE THEIR  RIGHTS  IN  ACCORDANCE  WITH  SECTION
 SEVEN  HUNDRED NINETY-NINE-I OF THIS ARTICLE, THE OWNER SHALL NOTIFY ALL
 QUALIFIED PURCHASERS, VIA E-MAIL, OF THEIR RIGHTS TO  SUBMIT  AN  OFFER.
 UPON  RECEIPT  OF  THIS NOTICE, EACH QUALIFIED PURCHASER THAT INTENDS TO
 PURCHASE THE RENTAL HOUSING ACCOMMODATION SHALL SUBMIT AN OFFER  TO  THE
 OWNER WITHIN THE TIME PERIOD SPECIFIED IN SUBPARAGRAPH (I) OF THIS PARA-
 GRAPH.
   (B)  THE  FOLLOWING  PROCEDURES  SHALL  APPLY  TO OFFERS TO PURCHASE A
 RENTAL HOUSING ACCOMMODATION WITH TWO UNITS OR A SINGLE FAMILY HOME WITH
 MULTIPLE TENANT HOUSEHOLDS, UNLESS SUBJECT  TO  PARAGRAPH  (A)  OF  THIS
 SUBDIVISION:
   (I)  UPON  RECEIPT  OF A STATEMENT OF INTEREST FROM TENANTS CONSISTENT
 WITH SUBDIVISION FOUR OF THIS SECTION, AN OWNER SHALL AFFORD THE TENANTS
 AN ADDITIONAL FORTY-FIVE DAYS TO FORM A TENANT  ORGANIZATION,  SELECT  A
 SUPPORTIVE  PARTNER, AND DELIVER AN OFFER TO PURCHASE THE RENTAL HOUSING
 ACCOMMODATION. IF THE TENANTS WAIVE  THEIR  RIGHTS  IN  ACCORDANCE  WITH
 SECTION  SEVEN HUNDRED NINETY-NINE-I OF THIS ARTICLE, QUALIFIED PURCHAS-
 ERS SHALL HAVE THE REMAINING TIME OR A MINIMUM OF FIVE  DAYS,  WHICHEVER
 IS GREATER, TO DELIVER AN OFFER TO THE OWNER.
   (II)  IF  THE  TENANTS  WAIVE  THEIR RIGHTS IN ACCORDANCE WITH SECTION
 SEVEN HUNDRED NINETY-NINE-I OF THIS ARTICLE, THE OWNER SHALL NOTIFY  ALL
 QUALIFIED  PURCHASERS,  VIA  E-MAIL, OF THEIR RIGHTS TO SUBMIT AN OFFER.
 UPON RECEIPT OF THIS NOTICE, EACH QUALIFIED PURCHASER  THAT  INTENDS  TO
 PURCHASE  THE RENTAL HOUSING ACCOMMODATION SHALL DELIVER AN OFFER WITHIN
 THE TIME PERIOD SPECIFIED IN SUBPARAGRAPH (I) OF THIS PARAGRAPH.
   (C) THE FOLLOWING PROCEDURES SHALL  APPLY  TO  OFFERS  TO  PURCHASE  A
 RENTAL HOUSING ACCOMMODATION WITH THREE OR MORE UNITS, UNLESS SUBJECT TO
 PARAGRAPH (A) OF THIS SUBDIVISION.
   (I)  UPON  RECEIPT  OF A STATEMENT OF INTEREST FROM TENANTS CONSISTENT
 WITH SUBDIVISION FOUR OF THIS SECTION, AN OWNER SHALL AFFORD TENANTS  AN
 ADDITIONAL SIXTY DAYS TO FORM A TENANT ORGANIZATION, SELECT A SUPPORTIVE
 PARTNER,  AND  DELIVER  AN OFFER TO PURCHASE THE RENTAL HOUSING ACCOMMO-
 DATION. TENANTS IN A RENTAL HOUSING ACCOMMODATION WITH  TEN  TO  TWENTY-
 NINE  UNITS  SHALL  BE  GRANTED  ONE EXTENSION OF UP TO THIRTY DAYS UPON
 REQUEST, FOR A TOTAL OF NINETY DAYS TO SUBMIT AN  OFFER  TO  THE  OWNER.
 TENANTS  IN  A  RENTAL  HOUSING  ACCOMMODATION WITH THIRTY OR MORE UNITS
 SHALL BE GRANTED TWO EXTENSIONS OF UP TO THIRTY DAYS EACH, FOR  A  TOTAL
 OF  ONE  HUNDRED  TWENTY  DAYS  TO DELIVER AN OFFER TO THE OWNER. IF THE
 TENANTS WAIVE THEIR RIGHTS IN  ACCORDANCE  WITH  SECTION  SEVEN  HUNDRED
 NINETY-NINE-I  OF  THIS  ARTICLE,  QUALIFIED  PURCHASERS  SHALL HAVE THE
 REMAINING TIME WITHIN THESE TIME PERIODS AND ANY EXTENSIONS THEREOF,  OR
 A MINIMUM OF FIVE DAYS, WHICHEVER IS GREATER, TO DELIVER AN OFFER TO THE
 OWNER.
   (II)  IF  THE  TENANTS  WAIVE  THEIR RIGHTS IN ACCORDANCE WITH SECTION
 SEVEN HUNDRED NINETY-NINE-I OF THIS ARTICLE, THE OWNER SHALL NOTIFY  ALL
 QUALIFIED  PURCHASERS,  VIA  E-MAIL, OF THEIR RIGHTS TO SUBMIT AN OFFER.
 UPON RECEIPT OF THIS NOTICE, EACH QUALIFIED PURCHASER  THAT  INTENDS  TO
 S. 221                             14
 
 PURCHASE  THE RENTAL HOUSING ACCOMMODATION SHALL DELIVER AN OFFER WITHIN
 THE TIME PERIOD SPECIFIED IN SUBPARAGRAPH (I) OF THIS PARAGRAPH.
   (D)  WITHIN THE TIMEFRAMES PROVIDED BY PARAGRAPHS (A), (B), AND (C) OF
 THIS SUBDIVISION FOR SUBMITTING AN OFFER, THE TENANT,  TENANT  ORGANIZA-
 TION,  OR  QUALIFIED  PURCHASER THAT SUBMITS AN OFFER TO THE OWNER SHALL
 ALSO SUBMIT AN AGREEMENT TO HCR PURSUANT TO SUBDIVISION TWO  OF  SECTION
 SEVEN  HUNDRED  NINETY-NINE-R  OF  THIS ARTICLE, AGREEING TO BE BOUND BY
 REQUIREMENTS OF SUCH SECTION.
   6. OWNER FREE TO ACCEPT OR REJECT OFFER. THE OWNER SHALL  BE  FREE  TO
 ACCEPT  OR  REJECT ANY OFFER OF PURCHASE FROM A TENANT, TENANT ORGANIZA-
 TION OR QUALIFIED PURCHASER. ANY SUCH ACCEPTANCE OR REJECTION  SHALL  BE
 COMMUNICATED IN WRITING.
   (A) INCENTIVES TO ACCEPT OFFER. IF THE OWNER ACCEPTS ANY SUCH OFFER OF
 PURCHASE  FROM  A  TENANT, TENANT ORGANIZATION OR A QUALIFIED PURCHASER,
 THE OWNER MAY BE ELIGIBLE TO  RECEIVE  INCENTIVES  PURSUANT  TO  SECTION
 SEVEN HUNDRED NINETY-NINE-S OF THIS ARTICLE.
   (B)  REJECTION  OF  OFFER.  IF  THE  OWNER  REJECTS ALL SUCH OFFERS OF
 PURCHASE, THE OWNER MAY IMMEDIATELY OFFER THE  RENTAL  HOUSING  ACCOMMO-
 DATION  FOR  SALE  TO,  AND SOLICIT OFFERS OF PURCHASE FROM, PROSPECTIVE
 THIRD-PARTY PURCHASERS, SUBJECT TO THE RIGHT OF FIRST REFUSAL  DESCRIBED
 IN SECTION SEVEN HUNDRED NINETY-NINE-L OF THIS ARTICLE.
   (C)  LAPSE  OF TIME. IF NINETY DAYS ELAPSE FROM THE DATE OF AN OWNER'S
 REJECTION OF AN OFFER FROM A TENANT, TENANT ORGANIZATION OR A  QUALIFIED
 PURCHASER,  AND THE OWNER HAS NOT PROVIDED AN OFFER OF SALE AS DESCRIBED
 IN SECTION SEVEN HUNDRED NINETY-NINE-L OF THIS ARTICLE, THE OWNER  SHALL
 COMPLY ANEW WITH THIS SECTION.
   7.  TIME TO SECURE FINANCING. (A) THE FOLLOWING PROCEDURES SHALL APPLY
 TO A PURCHASE OF A SINGLE FAMILY HOME WITH ONLY ONE TENANT HOUSEHOLD.
   (I) THE OWNER SHALL AFFORD THE TENANT OR  QUALIFIED  PURCHASER  THIRTY
 DAYS  AFTER  THE DATE OF THE ENTERING INTO A PURCHASE CONTRACT TO SECURE
 FINANCING.
   (II) IF, WITHIN THIRTY DAYS AFTER THE DATE OF CONTRACTING, THE  TENANT
 OR QUALIFIED PURCHASER PRESENTS THE OWNER WITH THE WRITTEN DECISION OF A
 LENDING INSTITUTION OR AGENCY THAT STATES THAT THE INSTITUTION OR AGENCY
 ESTIMATES THAT A DECISION WITH RESPECT TO FINANCING OR FINANCIAL ASSIST-
 ANCE  WILL BE MADE WITHIN FORTY-FIVE DAYS AFTER THE DATE OF CONTRACTING,
 THE OWNER SHALL AFFORD THE TENANT OR QUALIFIED PURCHASER AN EXTENSION OF
 TIME CONSISTENT WITH THE WRITTEN ESTIMATE.
   (III) IF THE TENANT OR QUALIFIED PURCHASER DOES NOT  SECURE  FINANCING
 AND CLOSE THE TRANSACTION WITHIN THE TIMEFRAMES DESCRIBED IN THIS SUBDI-
 VISION  AND SUBDIVISION EIGHT OF THIS SECTION, AND ANY EXTENSIONS THERE-
 OF, THE OWNER MAY IMMEDIATELY PROCEED TO OFFER THE RENTAL HOUSING ACCOM-
 MODATION FOR SALE TO, AND TO SOLICIT OFFERS OF PURCHASE FROM PROSPECTIVE
 THIRD PARTY PURCHASERS OTHER THAN THE TENANT OR QUALIFIED PURCHASER.
   (B) THE FOLLOWING PROCEDURES SHALL APPLY TO A  PURCHASE  OF  A  RENTAL
 HOUSING ACCOMMODATION WITH TWO UNITS OR A SINGLE FAMILY HOME WITH MULTI-
 PLE TENANT HOUSEHOLDS.
   (I)  THE  OWNER  SHALL  AFFORD  THE  TENANT  ORGANIZATION OR QUALIFIED
 PURCHASER NINETY DAYS  AFTER  THE  DATE  OF  ENTERING  INTO  A  PURCHASE
 CONTRACT TO SECURE FINANCING.
   (II)  IF, WITHIN NINETY DAYS AFTER THE DATE OF CONTRACTING, THE TENANT
 ORGANIZATION OR QUALIFIED PURCHASER PRESENTS THE OWNER WITH THE  WRITTEN
 DECISION  OF A LENDING INSTITUTION OR AGENCY THAT STATES THAT THE INSTI-
 TUTION OR AGENCY ESTIMATES THAT A DECISION WITH RESPECT TO FINANCING  OR
 FINANCIAL  ASSISTANCE  WILL BE MADE WITHIN ONE HUNDRED TWENTY DAYS AFTER
 THE DATE OF CONTRACTING, THE OWNER SHALL AFFORD THE TENANT  ORGANIZATION
 S. 221                             15
 
 OR  QUALIFIED PURCHASER AN EXTENSION OF TIME CONSISTENT WITH THE WRITTEN
 ESTIMATE.
   (III)  IF  THE  TENANT  ORGANIZATION  OR  QUALIFIED PURCHASER DOES NOT
 SECURE  FINANCING  AND  CLOSE  THE  TRANSACTION  WITHIN  THE  TIMEFRAMES
 DESCRIBED IN THIS SUBDIVISION AND SUBDIVISION EIGHT OF THIS SECTION, AND
 ANY  EXTENSIONS  THEREOF, THE OWNER MAY IMMEDIATELY PROCEED TO OFFER THE
 RENTAL HOUSING ACCOMMODATION FOR SALE  TO,  AND  TO  SOLICIT  OFFERS  OF
 PURCHASE  FROM  PROSPECTIVE THIRD-PARTY PURCHASERS OTHER THAN THE TENANT
 ORGANIZATION OR QUALIFIED PURCHASER.
   (C) THE FOLLOWING PROCEDURES SHALL APPLY TO PURCHASES OF RENTAL  HOUS-
 ING ACCOMMODATIONS WITH THREE OR MORE UNITS.
   (I)  THE  OWNER  SHALL  AFFORD  THE  TENANT  ORGANIZATION OR QUALIFIED
 PURCHASER ONE HUNDRED TWENTY DAYS AFTER THE  DATE  OF  ENTERING  INTO  A
 PURCHASE CONTRACT TO SECURE FINANCING.
   (II) IF, WITHIN ONE HUNDRED TWENTY DAYS AFTER THE DATE OF CONTRACTING,
 THE  TENANT  ORGANIZATION OR QUALIFIED PURCHASER PRESENTS THE OWNER WITH
 THE WRITTEN DECISION OF A LENDING INSTITUTION OR AGENCY THAT STATES THAT
 THE INSTITUTION OR AGENCY ESTIMATES THAT  A  DECISION  WITH  RESPECT  TO
 FINANCING  OR FINANCIAL ASSISTANCE WILL BE MADE WITHIN ONE HUNDRED SIXTY
 DAYS AFTER THE DATE OF CONTRACTING, THE OWNER SHALL  AFFORD  THE  TENANT
 ORGANIZATION OR QUALIFIED PURCHASER AN EXTENSION OF TIME CONSISTENT WITH
 THE WRITTEN ESTIMATE.
   (III)  IF  THE  TENANT  ORGANIZATION  OR  QUALIFIED PURCHASER DOES NOT
 SECURE FINANCING AND CLOSE THE DEAL WITHIN THE TIMEFRAMES  DESCRIBED  IN
 THIS  SUBDIVISION  AND SUBDIVISION EIGHT OF THIS SECTION, AND ANY EXTEN-
 SIONS THEREOF, THE OWNER MAY IMMEDIATELY PROCEED  TO  OFFER  THE  RENTAL
 HOUSING  ACCOMMODATION  FOR  SALE  TO, AND TO SOLICIT OFFERS OF PURCHASE
 FROM PROSPECTIVE THIRD-PARTY PURCHASERS OTHER THAN THE TENANT  ORGANIZA-
 TION OR QUALIFIED PURCHASER.
   8. TIME TO CLOSE. IN ADDITION TO THE TIME PERIODS IN SUBDIVISION SEVEN
 OF  THIS  SECTION,  THE OWNER SHALL AFFORD EACH TENANT, TENANT ORGANIZA-
 TION, OR QUALIFIED PURCHASER WITH AN ADDITIONAL FOURTEEN DAYS TO  CLOSE.
 SO  LONG  AS  THE TENANT, TENANT ORGANIZATION, OR QUALIFIED PURCHASER IS
 DILIGENTLY PURSUING THE CLOSE, THE OWNER SHALL AFFORD THEM A  REASONABLE
 EXTENSION BEYOND THIS FOURTEEN-DAY PERIOD TO CLOSE.
   § 799-L. RIGHT OF FIRST REFUSAL. 1. GENERAL CONSTRUCTION. THIS SECTION
 SHALL  BE  CONSTRUED  TO  CONFER A RIGHT OF FIRST REFUSAL ONLY UPON EACH
 TENANT, TENANT ORGANIZATION, AND QUALIFIED PURCHASER THAT EXERCISED  THE
 RIGHT  OF FIRST OFFER PURSUANT TO SECTION SEVEN HUNDRED NINETY-NINE-K OF
 THIS ARTICLE.
   2. OFFER OF  SALE  TO  TENANT,  TENANT  ORGANIZATIONS,  AND  QUALIFIED
 PURCHASERS. BEFORE AN OWNER OF A RENTAL HOUSING ACCOMMODATION MAY SELL A
 RENTAL  HOUSING  ACCOMMODATION, THE OWNER SHALL GIVE EACH TENANT, TENANT
 ORGANIZATION, OR QUALIFIED PURCHASER THAT PREVIOUSLY MADE  AN  OFFER  TO
 PURCHASE  SUCH  RENTAL  HOUSING  ACCOMMODATION PURSUANT TO SECTION SEVEN
 HUNDRED NINETY-NINE-K OF THIS ARTICLE AN OPPORTUNITY  TO  PURCHASE  SUCH
 RENTAL  HOUSING ACCOMMODATION AT A PRICE AND TERMS THAT REPRESENT A BONA
 FIDE OFFER OF SALE.
   (A) THE OWNER'S OFFER OF SALE SHALL INCLUDE, AT MINIMUM:
   (I) THE ASKING PRICE AND TERMS OF THE SALE. THE TERMS  AND  CONDITIONS
 SHALL BE CONSISTENT WITH THE APPLICABLE TIMEFRAMES DESCRIBED IN SUBDIVI-
 SIONS THREE AND FOUR OF THIS SECTION;
   (II)  A STATEMENT AS TO WHETHER A PURCHASE CONTRACT WITH A THIRD-PARTY
 PURCHASER EXISTS FOR THE SALE OF THE RENTAL HOUSING  ACCOMMODATION,  AND
 IF SO, A COPY OF SUCH PURCHASE CONTRACT; AND
 S. 221                             16
 
   (III)  A  STATEMENT  IN ENGLISH AND SPANISH STATING THAT IF THE TENANT
 REQUIRES THE OFFER OF SALE IN A LANGUAGE OTHER THAN  ENGLISH,  THEY  MAY
 CONTACT  HCR  AND  REQUEST THE OFFER OF SALE IN THEIR REQUESTED LANGUAGE
 AND/OR THE ASSISTANCE OF AN INTERPRETER.
   (B) IF A TENANT OR TENANT ORGANIZATION IS RECEIVING THE OFFER OF SALE,
 THE  OWNER  SHALL  DELIVER  A  WRITTEN COPY OF THE OFFER OF SALE TO EACH
 TENANT OR TENANT ORGANIZATION BY CERTIFIED MAIL.
   (C) IF A QUALIFIED PURCHASER IS RECEIVING THE OFFER OF SALE, THE OWNER
 SHALL DELIVER THE OFFER OF SALE TO EACH QUALIFIED PURCHASER THAT  PREVI-
 OUSLY  MADE  AN  OFFER TO PURCHASE THE RENTAL HOUSING ACCOMMODATION. THE
 OWNER SHALL SUBMIT AN OFFER OF SALE TO EACH SUCH QUALIFIED PURCHASER  ON
 THE SAME DAY, AND TO THE EXTENT POSSIBLE, AT THE SAME TIME, BY E-MAIL.
   (D)  IF THE OWNER HAS A PURCHASE CONTRACT WITH A THIRD-PARTY PURCHASER
 FOR THE SALE OF THE RENTAL HOUSING ACCOMMODATION, THE OWNER SHALL DELIV-
 ER THE OFFER OF SALE TO EACH TENANT, TENANT  ORGANIZATION  OR  QUALIFIED
 PURCHASER  WITHIN TWO DAYS OF ENTERING INTO A PURCHASE CONTRACT WITH THE
 THIRD-PARTY PURCHASER.
   (E) THE OWNER SHALL ALSO PROVIDE HCR WITH A WRITTEN COPY OF THE  OFFER
 OF SALE AND A STATEMENT CERTIFYING THAT THE ITEMS DESCRIBED BY PARAGRAPH
 (A)  OF THIS SUBDIVISION WERE DELIVERED TO EACH TENANT, TENANT ORGANIZA-
 TION, OR QUALIFIED PURCHASER.
   3. TIME TO ACCEPT OFFER. (A) THE FOLLOWING PROCEDURES SHALL APPLY TO A
 RENTAL HOUSING  ACCOMMODATION  WITH  ONLY  ONE  TENANT  HOUSEHOLD:  UPON
 RECEIPT  OF  THE  OFFER  OF  SALE  FROM THE OWNER, A TENANT OR QUALIFIED
 PURCHASER SHALL HAVE TEN DAYS TO ACCEPT THE  OFFER  OF  SALE,  PROVIDED,
 HOWEVER, THAT THE DEADLINE TO ACCEPT ANY OFFER OF SALE SHALL BE EXTENDED
 TO ALLOW THE TENANT OR QUALIFIED PURCHASER TO EXERCISE THEIR RIGHT TO AN
 APPRAISAL  PURSUANT TO SECTION SEVEN HUNDRED NINETY-NINE-N OF THIS ARTI-
 CLE, IF THEY BELIEVE THAT THE OFFER OF SALE IS NOT A BONA FIDE OFFER  OF
 SALE.
   (B)  THE FOLLOWING PROCEDURES SHALL APPLY TO A RENTAL HOUSING ACCOMMO-
 DATION WITH MULTIPLE TENANT HOUSEHOLDS:
   (I) UPON RECEIPT OF THE OFFER OF SALE FROM THE OWNER, A TENANT  ORGAN-
 IZATION SHALL HAVE FORTY-FIVE DAYS TO ACCEPT THE OFFER OF SALE.
   (II)  UPON  RECEIPT  OF  THE OFFER OF SALE FROM THE OWNER, A QUALIFIED
 PURCHASER SHALL HAVE THIRTY DAYS TO ACCEPT THE OFFER OF SALE.
   (III) THE DEADLINE TO ACCEPT ANY OFFER OF SALE SHALL  BE  EXTENDED  TO
 ALLOW  THE  TENANT  OR QUALIFIED PURCHASER TO EXERCISE THEIR RIGHT TO AN
 APPRAISAL PURSUANT TO SECTION SEVEN HUNDRED NINETY-NINE-N OF THIS  ARTI-
 CLE,  IF THEY BELIEVE THAT THE OFFER OF SALE IS NOT A BONA FIDE OFFER OF
 SALE.
   (C) IF, DURING THESE TIME PERIODS, ANY QUALIFIED  PURCHASER  THAT  HAS
 RECEIVED SUCH OFFER OF SALE DECIDES TO ACCEPT THE OWNER'S OFFER OF SALE,
 SUCH  QUALIFIED  PURCHASER SHALL NOTIFY THE OWNER AND EVERY OTHER QUALI-
 FIED PURCHASER OF SUCH DECISION BY E-MAIL. AFTER A  QUALIFIED  PURCHASER
 NOTIFIES  THE OWNER OF ITS DECISION TO ACCEPT THE OWNER'S OFFER OF SALE,
 MEANING BEFORE ANY OTHER QUALIFIED PURCHASER SO NOTIFIED THE OWNER, SUCH
 QUALIFIED PURCHASER SHALL BE DEEMED TO HAVE ACCEPTED THE OFFER OF  SALE,
 AND NO OTHER QUALIFIED PURCHASER SHALL ACCEPT THE OWNER'S OFFER OF SALE,
 WHETHER OR NOT THE TIME PERIODS IN THIS SUBDIVISION HAVE ELAPSED.
   4.  TIME  TO SECURE FINANCING AND CLOSE. IF A TENANT, TENANT ORGANIZA-
 TION, OR QUALIFIED PURCHASER ACCEPTS AN OWNER'S OFFER OF SALE IN ACCORD-
 ANCE WITH THIS ARTICLE, THE  OWNER  SHALL  AFFORD  SUCH  TENANT,  TENANT
 ORGANIZATION, OR QUALIFIED PURCHASER TIME TO SECURE FINANCING AND CLOSE,
 CONSISTENT WITH THIS ARTICLE.
 S. 221                             17
 
   5. REJECTION OF OFFER. IF EACH TENANT, TENANT ORGANIZATION, AND QUALI-
 FIED PURCHASER THAT RECEIVED AN OFFER OF SALE CONSISTENT WITH THIS ARTI-
 CLE, REJECTS SUCH OFFER OF SALE OR FAILS TO RESPOND WITHIN THE TIMELINES
 DESCRIBED  IN  THIS  SECTION, THE OWNER MAY IMMEDIATELY PROCEED WITH THE
 SALE  OF  THE  RENTAL  HOUSING  ACCOMMODATION TO A THIRD-PARTY PURCHASER
 CONSISTENT WITH THE PRICE AND MATERIAL TERMS OF THAT OFFER OF SALE.
   § 799-M. THIRD-PARTY RIGHTS. THE RIGHT OF A THIRD-PARTY TO PURCHASE  A
 RENTAL  HOUSING  ACCOMMODATION SHALL BE CONDITIONAL UPON THE EXERCISE OF
 TENANT, TENANT ORGANIZATION, AND QUALIFIED PURCHASER RIGHTS  UNDER  THIS
 ARTICLE.  THE TIME PERIODS FOR SUBMITTING AND ACCEPTING AN OFFER, SECUR-
 ING FINANCING, AND CLOSING UNDER THIS ARTICLE SHALL BE MINIMUM  PERIODS,
 AND  THE OWNER MAY AFFORD ANY TENANT, TENANT ORGANIZATION, AND QUALIFIED
 PURCHASER A REASONABLE EXTENSION OF SUCH PERIOD, WITHOUT LIABILITY UNDER
 A  THIRD-PARTY  PURCHASE  CONTRACT.  THIRD-PARTY  PURCHASERS  SHALL   BE
 PRESUMED  TO  ACT  WITH  FULL KNOWLEDGE OF THE RIGHTS OF TENANTS, TENANT
 ORGANIZATIONS, AND QUALIFIED PURCHASERS AND  PUBLIC  POLICY  UNDER  THIS
 ARTICLE.
   § 799-N. RIGHT TO APPRAISAL. 1. RIGHT TO APPRAISAL. THIS SECTION SHALL
 APPLY  WHENEVER  AN  OFFER OF SALE IS MADE TO A TENANT, TENANT ORGANIZA-
 TION, OR QUALIFIED PURCHASERS AS REQUIRED BY THIS ARTICLE AND THE  OFFER
 IS MADE IN THE ABSENCE OF AN ARM'S-LENGTH THIRD-PARTY PURCHASE CONTRACT.
   2.  REQUEST  FOR APPRAISAL. THE TENANT, TENANT ORGANIZATION, OR QUALI-
 FIED PURCHASER THAT RECEIVES AN OWNER'S OFFER OF SALE MAY CHALLENGE SUCH
 OFFER OF SALE AS NOT BEING A BONA FIDE OFFER OF  SALE,  AND  REQUEST  AN
 APPRAISAL  TO  DETERMINE  THE  FAIR  MARKET  VALUE OF THE RENTAL HOUSING
 ACCOMMODATION. THE PARTY REQUESTING THE APPRAISAL SHALL  BE  DEEMED  THE
 "PETITIONER"  FOR PURPOSES OF THIS SECTION. THE PETITIONER SHALL DELIVER
 THE WRITTEN REQUEST FOR AN APPRAISAL TO HCR AND THE OWNER BY HAND OR  BY
 CERTIFIED MAIL WITHIN FIVE DAYS OF RECEIVING THE OFFER OF SALE.
   3. TIME FOR APPRAISAL. BEGINNING WITH THE DATE OF RECEIPT OF A WRITTEN
 REQUEST  FOR  AN  APPRAISAL, AND FOR EACH DAY THEREAFTER UNTIL THE PETI-
 TIONER RECEIVES THE APPRAISAL, THE TIME PERIODS DESCRIBED IN SUBDIVISION
 THREE OF SECTION SEVEN HUNDRED NINETY-NINE-L OF THIS  ARTICLE  SHALL  BE
 EXTENDED BY AN ADDITIONAL TIME OF UP TO TEN BUSINESS DAYS.
   4.  SELECTION  OF  APPRAISER. THE PETITIONER SHALL SELECT AN APPRAISER
 FROM A LIST OF INDEPENDENT, QUALIFIED APPRAISERS, THAT HCR  SHALL  MAIN-
 TAIN.    HCR-APPROVED  APPRAISERS SHALL HOLD AN ACTIVE APPRAISER LICENSE
 ISSUED BY THE NEW YORK STATE BOARD OF REAL ESTATE APPRAISAL AND SHALL BE
 ABLE TO CONDUCT AN OBJECTIVE, INDEPENDENT PROPERTY VALUATION,  PERFORMED
 ACCORDING  TO  PROFESSIONAL  INDUSTRY  STANDARDS.  ALL  APPRAISERS SHALL
 UNDERGO TRAINING ORGANIZED BY HCR BEFORE THEY ARE APPROVED AND ADDED  TO
 THE HCR'S LIST.
   5.  COST  OF  APPRAISAL.  THE PETITIONER SHALL BE RESPONSIBLE FOR ONE-
 THIRD AND THE OWNER SHALL BE RESPONSIBLE FOR  TWO-THIRDS  OF  THE  TOTAL
 COST OF THE APPRAISAL.
   6.  APPRAISAL  PROCEDURES  AND  STANDARDS.  THE  OWNER  SHALL GIVE THE
 APPRAISER FULL, UNFETTERED ACCESS  TO  THE  PROPERTY.  THE  OWNER  SHALL
 RESPOND  WITHIN  THREE  DAYS  TO  ANY  REQUEST  FOR INFORMATION FROM THE
 APPRAISER. THE PETITIONER MAY GIVE THE APPRAISER INFORMATION RELEVANT TO
 THE VALUATION OF THE PROPERTY. THE APPRAISAL SHALL  BE  COMPLETED  EXPE-
 DITIOUSLY  ACCORDING TO STANDARD INDUSTRY TIMEFRAMES. AN APPRAISED VALUE
 SHALL ONLY BE BASED ON RIGHTS AN OWNER HAS AS A  MATTER-OF-RIGHT  AS  OF
 THE  DATE OF THE ALLEGED BONA FIDE OFFER OF SALE, INCLUDING ANY EXISTING
 RIGHT AN OWNER MAY HAVE TO CONVERT THE PROPERTY TO ANOTHER USE.   WITHIN
 THE  RESTRICTIONS  IN THIS SUBDIVISION, AN APPRAISED VALUE MAY TAKE INTO
 CONSIDERATION THE HIGHEST AND BEST USE OF THE PROPERTY.
 S. 221                             18
 
   7. VALIDITY OF APPRAISAL. THE DETERMINATION OF THE APPRAISED VALUE  OF
 THE RENTAL HOUSING ACCOMMODATION, IN ACCORDANCE WITH THIS SECTION, SHALL
 BECOME  THE  SALES PRICE OF THE RENTAL HOUSING ACCOMMODATION IN THE BONA
 FIDE OFFER OF SALE, UNLESS:
   (A) THE OWNER AND THE PETITIONER AGREE UPON A DIFFERENT SALES PRICE OF
 THE RENTAL HOUSING ACCOMMODATION; OR
   (B)  THE  OWNER ELECTS TO WITHDRAW THE OFFER OF SALE ALTOGETHER WITHIN
 FOURTEEN DAYS OF RECEIPT OF THE APPRAISAL, IN WHICH CASE:
   (I) THE OWNER SHALL WITHDRAW THE OFFER OF SALE BY DELIVERING A WRITTEN
 NOTICE BY HAND OR BY CERTIFIED MAIL TO HCR AND TO THE PETITIONER;
   (II) UPON WITHDRAWAL, THE OWNER SHALL REIMBURSE THE PETITIONER AND HCR
 FOR THEIR SHARE OF THE COST OF THE APPRAISAL  WITHIN  FOURTEEN  DAYS  OF
 DELIVERY OF WRITTEN NOTICE OF WITHDRAWAL; AND
   (III)  AN OWNER WHO WITHDRAWS AN OFFER OF SALE IN ACCORDANCE WITH THIS
 PARAGRAPH SHALL BE PRECLUDED FROM PROCEEDING TO SELL THE RENTAL  HOUSING
 ACCOMMODATION  TO  A  THIRD-PARTY  PURCHASER WITHOUT COMPLYING WITH THIS
 SECTION BY HONORING THE FIRST RIGHT OF PURCHASE OF TENANTS AND QUALIFIED
 PURCHASERS; OR
   (C) THE PETITIONER ELECTS TO WITHDRAW THE  OFFER  OF  SALE  ALTOGETHER
 WITHIN FOURTEEN DAYS OF RECEIPT OF THE APPRAISAL, IN WHICH CASE:
   (I)  THE  PETITIONER  SHALL WITHDRAW THE OFFER OF SALE BY DELIVERING A
 WRITTEN NOTICE BY HAND OR BY CERTIFIED MAIL TO HCR AND TO THE OWNER; AND
   (II) UPON WITHDRAWAL, THE PETITIONER SHALL REIMBURSE THE OWNER AND HCR
 FOR THEIR SHARE OF THE COST OF THE APPRAISAL  WITHIN  FOURTEEN  DAYS  OF
 DELIVERY OF WRITTEN NOTICE OF WITHDRAWAL.
   §  799-O.  PURCHASE CONTRACT NEGOTIATION. 1. BARGAINING IN GOOD FAITH.
 THE OWNER AND ANY TENANT, TENANT ORGANIZATION, AND/OR QUALIFIED PURCHAS-
 ER SHALL BARGAIN IN GOOD FAITH REGARDING THE  TERMS  OF  ANY  OFFER  FOR
 SALE.  ANY ONE OF THE FOLLOWING SHALL CONSTITUTE PRIMA FACIE EVIDENCE OF
 BARGAINING WITHOUT GOOD FAITH:
   (A) THE FAILURE OF AN OWNER TO OFFER A TENANT, TENANT ORGANIZATION, OR
 QUALIFIED PURCHASER A PRICE AND OTHER MATERIAL TERMS AT LEAST AS FAVORA-
 BLE AS THAT OFFERED TO A THIRD-PARTY PURCHASER;
   (B) ANY REQUIREMENT BY AN OWNER THAT A TENANT, TENANT ORGANIZATION, OR
 QUALIFIED PURCHASER WAIVE ANY RIGHT UNDER THIS ARTICLE; OR
   (C) THE INTENTIONAL FAILURE OF AN OWNER, TENANT, TENANT  ORGANIZATION,
 OR QUALIFIED PURCHASER TO COMPLY WITH THE PROVISIONS OF THIS ARTICLE.
   2.  REDUCED  PRICE. IF THE OWNER SELLS OR CONTRACTS TO SELL THE RENTAL
 HOUSING ACCOMMODATION TO A THIRD-PARTY PURCHASER FOR A PRICE  LESS  THAN
 THE  PRICE  OFFERED  TO  THE  TENANT,  TENANT ORGANIZATION, OR QUALIFIED
 PURCHASER IN THE OFFER OF SALE, OR FOR OTHER TERMS, WHICH WOULD  CONSTI-
 TUTE BARGAINING WITHOUT GOOD FAITH, THE OWNER SHALL COMPLY ANEW WITH ALL
 REQUIREMENTS OF THIS ARTICLE, AS APPLICABLE.
   3.  TERMINATION  OF  RIGHTS.  THE  INTENTIONAL  FAILURE OF ANY TENANT,
 TENANT  ORGANIZATION,  OR  QUALIFIED  PURCHASER  TO  COMPLY   WITH   THE
 PROVISIONS  OF  THIS  ARTICLE  SHALL  RESULT IN THE TERMINATION OF THEIR
 RIGHTS UNDER THIS ARTICLE.
   § 799-P. NO SELLING OF RIGHTS. 1. A TENANT,  TENANT  ORGANIZATION,  OR
 QUALIFIED PURCHASER SHALL NOT SELL ANY RIGHTS UNDER THIS ARTICLE.
   2.  AN OWNER SHALL NOT COERCE A TENANT OR TENANT ORGANIZATION TO WAIVE
 THEIR RIGHTS UNDER THIS ARTICLE.
   § 799-Q. TENANT PROTECTIONS. 1. NO TENANT IN THE RENTAL HOUSING ACCOM-
 MODATION, INCLUDING TENANTS WHO DO NOT EXERCISE RIGHTS TO PURCHASE UNDER
 THIS ARTICLE, SHALL BE EVICTED BY THE TOPA BUYER, EXCEPT FOR GOOD CAUSE.
   2. SHOULD THE MAXIMUM ALLOWABLE RENT PROVISION OF THE STATE'S EMERGEN-
 CY TENANT PROTECTION REGULATIONS, AND  THE  STATE'S  RENT  STABILIZATION
 S. 221                             19
 
 CODE, PROMULGATED BY THE DIVISION OF HOUSING AND COMMUNITY RENEWAL, TOPA
 BUYERS  SHALL  ADJUST  THE RENT ANNUALLY TO ALLOW AN INCREASE OF NO MORE
 THAN THE INCREASE IN THE CPI.
   3.  TOPA  BUYERS  SHALL  NOT REFUSE TO PROVIDE RENTAL HOUSING ACCOMMO-
 DATIONS TO ANY PERSON BASED ON THE SOURCE OF FUNDS USED TO PAY  FOR  THE
 RENTAL  HOUSING  ACCOMMODATIONS,  INCLUDING BUT NOT LIMITED TO ANY FUNDS
 PROVIDED BY SECTION 8 VOUCHERS OR ANY OTHER SUBSIDY PROGRAM  ESTABLISHED
 BY  FEDERAL,  STATE  OR MUNICIPAL GOVERNMENT, OR ANY FUTURE RENT SUBSIDY
 FROM A GOVERNMENTAL ENTITY MADE AVAILABLE TO EXTREMELY LOW  TO  MODERATE
 LOW  INCOME  HOUSEHOLDS FOR VACANT UNITS IN THE PURCHASED RENTAL HOUSING
 ACCOMMODATION.
   § 799-R. PRICE STABILIZATION. 1. PRICE STABILIZATION. A RENTAL HOUSING
 ACCOMMODATION PURCHASED BY A TOPA BUYER  UNDER  THIS  ARTICLE  SHALL  BE
 SUBJECT  TO  PERMANENT  AFFORDABILITY  RESTRICTIONS AS SET FORTH IN THIS
 SECTION AND BY REGULATIONS PROMULGATED BY HCR, WHICH SHALL BE PROMULGAT-
 ED WITH THE INTENT OF FULFILLING THE PURPOSE OF THIS SECTION.
   2. TERM. SUBJECT TO REGULATIONS PROMULGATED BY HCR, PERMANENT AFFORDA-
 BILITY STANDARDS SHALL RESTRICT THE USE OF THE RENTAL  HOUSING  ACCOMMO-
 DATION  TO  REQUIRE  THAT PERMANENT AFFORDABILITY RESTRICTIONS REMAIN IN
 FORCE FOR NINETY-NINE YEARS AND WITH AN OPTION  TO  RENEW  AT  YEAR  ONE
 HUNDRED.  THIS  SUBDIVISION  SHALL  NOT TO BE CONSTRUED TO APPLY ONLY TO
 COMMUNITY LAND TRUSTS.
   3. PERMANENT AFFORDABILITY. IN EXCHANGE FOR THE RIGHTS CONFERRED UNDER
 THIS SECTION, EACH TOPA BUYER SHALL  AGREE  TO  MAINTAIN  THE  PERMANENT
 AFFORDABILITY  OF  THE RENTAL HOUSING ACCOMMODATION. NO TOPA BUYER SHALL
 BE ENTITLED TO A PURCHASE CONTRACT UNDER THIS SECTION WITHOUT  EXECUTING
 AN  AGREEMENT  WITH  HCR  TO LIMIT THE FUTURE APPRECIATION OF THE RENTAL
 HOUSING ACCOMMODATION AND ONLY SELL, OR RENT, TO INCOME-ELIGIBLE  HOUSE-
 HOLDS  IN  ACCORDANCE  WITH  THIS SECTION, SECTION SEVEN HUNDRED NINETY-
 NINE-Q OF THIS ARTICLE AND RELEVANT STANDARDS AND EXEMPTIONS CREATED  BY
 HCR  THROUGH  REGULATION.  UNDER  SUCH  AGREEMENT, EACH TOPA BUYER SHALL
 REPRESENT TO HCR THAT THEY AGREE TO BE BOUND BY THE  PERMANENT  AFFORDA-
 BILITY  REQUIREMENTS  UNDER  THIS  SECTION. THE TOPA BUYER SHALL DELIVER
 SUCH AGREEMENT TO HCR NO LATER THAN THE DEADLINE FOR SUBMITTING AN OFFER
 PROVIDED UNDER SECTION SEVEN HUNDRED NINETY-NINE-K OF THIS ARTICLE.
   4. PERMANENT AFFORDABILITY STANDARDS FOR TENANTS OR  TENANT  ORGANIZA-
 TIONS.  FOR  A TENANT OR TENANT ORGANIZATION PURCHASING A RENTAL HOUSING
 ACCOMMODATION, PERMANENT AFFORDABILITY STANDARDS CREATED BY HCR SHALL:
   (A) RESTRICT THE RESALE PRICE OF THE RENTAL HOUSING ACCOMMODATION,  OR
 SEPARATE  OWNERSHIP  INTERESTS  IN  THE RENTAL HOUSING ACCOMMODATION, BY
 LIMITING THE ANNUAL MARKET APPRECIATION OF THE RENTAL  HOUSING  ACCOMMO-
 DATION,  OR  SEPARATE  OWNERSHIP  INTEREST,  TO A PERCENTAGE INCREASE AS
 AGREED UPON BY HCR OR THE REGULATING MUNICIPAL HOUSING  AGENCY,  NOT  TO
 EXCEED AN ANNUAL INTEREST RATE OF THREE PERCENT SIMPLE;
   (B) ENSURE THAT A UNIT IN WHICH A TENANT DETERMINES TO REMAIN A RENTER
 FOLLOWING  A  PURCHASE  UNDER THIS ARTICLE SHALL BE MAINTAINED AS A UNIT
 SUBJECT TO THE REQUIREMENTS OF SECTION SEVEN  HUNDRED  NINETY-NINE-Q  OF
 THIS  ARTICLE,  UNLESS  HCR  DETERMINES A VALID EXEMPTION OR ALTERNATIVE
 STANDARD SHOULD APPLY FOR SUCH UNIT ASSISTED  BY  HCR  OR  OTHER  PUBLIC
 SUBSIDY  PROGRAM  WHICH  IS  SUBJECT TO SEPARATE PERMANENT AFFORDABILITY
 REQUIREMENTS; AND
   (C) AT MINIMUM, MAKE THE RESTRICTED RESALE PRICE OF THE RENTAL HOUSING
 ACCOMMODATION, OR OWNERSHIP INTERESTS IN  THE  RENTAL  HOUSING  ACCOMMO-
 DATION, AVAILABLE ONLY TO HOUSEHOLDS WITH INCOME AT OR BELOW THE AVERAGE
 AMIS  OF  THE INITIAL TOPA BUYERS AS OF THE INITIAL PURCHASE DATE OF THE
 S. 221                             20
 
 RENTAL HOUSING ACCOMMODATION, AS VERIFIED AND RECORDED BY HCR AS OF  THE
 INITIAL PURCHASE DATE AND NOT TO EXCEED EIGHTY PERCENT OF AMI.
   5.  PERMANENT  AFFORDABILITY  STANDARDS  FOR QUALIFIED PURCHASERS. FOR
 QUALIFIED PURCHASERS PURCHASING THE RENTAL HOUSING ACCOMMODATION, PERMA-
 NENT AFFORDABILITY STANDARDS CREATED BY HCR SHALL:
   (A) RESTRICT THE RESALE PRICE OF THE RENTAL HOUSING ACCOMMODATION,  OR
 SEPARATE  OWNERSHIP  INTERESTS  IN  THE RENTAL HOUSING ACCOMMODATION, BY
 LIMITING THE ANNUAL APPRECIATION OF THE RENTAL HOUSING ACCOMMODATION, OR
 SEPARATE OWNERSHIP INTEREST, TO A PERCENTAGE INCREASE AS AGREED UPON  BY
 HCR  OR THE REGULATING MUNICIPAL HOUSING AGENCY, NOT TO EXCEED AN ANNUAL
 INTEREST RATE OF THREE PERCENT SIMPLE;
   (B) ENSURE THAT A UNIT IN WHICH A TENANT DETERMINES TO REMAIN A RENTER
 FOLLOWING A PURCHASE UNDER THIS ARTICLE SHALL BE MAINTAINED  AS  A  UNIT
 SUBJECT  TO  THE  REQUIREMENTS OF SECTION SEVEN HUNDRED NINETY-NINE-Q OF
 THIS ARTICLE, UNLESS HCR DETERMINES A  VALID  EXEMPTION  OR  ALTERNATIVE
 STANDARD  SHOULD  APPLY  FOR  SUCH  UNIT ASSISTED BY HCR OR OTHER PUBLIC
 SUBSIDY PROGRAM WHICH IS SUBJECT  TO  SEPARATE  PERMANENT  AFFORDABILITY
 REQUIREMENT; AND
   (C)  PRIORITIZE  MAKING  VACANT OR VACATED UNITS IN THE RENTAL HOUSING
 ACCOMMODATION AVAILABLE TO HOUSEHOLDS WITH INCOMES AT OR BELOW THE AVER-
 AGE NEIGHBORHOOD AMI AT THE TIME OF PURCHASE BUT NOT  TO  EXCEED  EIGHTY
 PERCENT OF AMI.
   6.  MECHANISM.  PERMANENT AFFORDABILITY RESTRICTIONS SHALL MATERIALIZE
 AS AT LEAST ONE OF THE FOLLOWING:
   (A) A RESTRICTIVE COVENANT PLACED ON THE RECORDED TITLE  DEED  TO  THE
 RENTAL  HOUSING ACCOMMODATION THAT RUNS WITH THE LAND AND IS ENFORCEABLE
 BY HCR AGAINST THE TOPA BUYER AND ITS SUCCESSORS, AND OTHER AFFORDABILI-
 TY RESTRICTIONS IN LAND LEASES OR OTHER RECORDED DOCUMENTS  NOT  SPECIF-
 ICALLY  LISTED  IN THIS SUBDIVISION, SO LONG AS HCR DETERMINES THAT SUCH
 RESTRICTIONS ARE ENFORCEABLE  AND  LIKELY  TO  BE  ENFORCED  SUCH  AS  A
 RECORDED  MORTGAGE  PROMISSORY  NOTE  AND/OR  REGULATORY AGREEMENTS WITH
 LOCAL HOUSING AGENCIES WHERE GOVERNMENT SUBSIDIES ARE INVOLVED; AND
   (B) A COMMUNITY LAND TRUST LEASE, WHICH IS A NINETY-NINE-YEAR  RENEWA-
 BLE LAND LEASE WITH AFFORDABILITY AND OWNER-OCCUPANCY RESTRICTIONS.
   7.  REQUIRED  RECORDINGS  AND  FILINGS.  (A)  ALL COVENANTS CREATED IN
 ACCORDANCE WITH SECTION SEVEN  HUNDRED  NINETY-NINE-Q  OF  THIS  ARTICLE
 SHALL  BE  RECORDED BEFORE OR SIMULTANEOUSLY WITH THE CLOSE OF ESCROW IN
 THE OFFICE OF THE COUNTY RECORDER WHERE THE RENTAL HOUSING ACCOMMODATION
 IS LOCATED AND SHALL CONTAIN A LEGAL DESCRIPTION OF THE  RENTAL  HOUSING
 ACCOMMODATION, INDEXED TO THE NAME OF THE TOPA BUYER AS GRANTEE.
   (B)  EACH  TOPA  BUYER  OF  THE  RENTAL HOUSING ACCOMMODATION SHALL BE
 REQUIRED TO FILE A DOCUMENT ANNUALLY WITH HCR IN WHICH  THE  TOPA  BUYER
 AFFIRMATIVELY  STATES  THE  RENTS  AND  SHARE PRICE FOR EACH UNIT IN THE
 RENTAL HOUSING ACCOMMODATION. HCR MAY ENGAGE  A  THIRD-PARTY  MONITORING
 AGENT  TO  MONITOR  THE  COMPLIANCE OF THIS SUBDIVISION, PURSUANT TO HCR
 REGULATIONS.
   § 799-S. INCENTIVES. 1. ACCESS TO BUYERS. HCR SHALL ENDEAVOR TO  MAIN-
 TAIN AND PUBLICIZE THE LIST OF QUALIFIED PURCHASERS IN A MANNER THAT, TO
 THE  MAXIMUM  EXTENT  FEASIBLE,  PROMOTES THE EXISTENCE OF THE QUALIFIED
 PURCHASERS AS A READILY ACCESSIBLE POOL OF POTENTIAL BUYERS FOR  COVERED
 PROPERTIES. HCR SHALL, TO THE MAXIMUM EXTENT PERMITTED BY LAW AND OTHER-
 WISE FEASIBLE, PUBLICIZE THE EXISTENCE OF THIS LIST IN A MANNER INTENDED
 TO  FACILITATE  VOLUNTARY SALES TO QUALIFIED PURCHASERS IN A MANNER THAT
 AVOIDS OR MINIMIZES THE NEED FOR A BROKER, OTHER SEARCH COSTS, OR  OTHER
 TRANSACTIONS.
 S. 221                             21
 
   2.  PARTIAL  TRANSFER  TAX EXEMPTION. THE TAX RATE SHALL BE REDUCED IN
 ACCORDANCE WITH SECTION FOURTEEN HUNDRED TWO OF THE TAX LAW WITH RESPECT
 TO ANY DEED, INSTRUMENT, OR WRITING THAT AFFECTS A TRANSFER  UNDER  THIS
 ARTICLE.
   3.  POTENTIAL  FEDERAL  TAX  BENEFITS.  ANY  QUALIFIED  PURCHASER THAT
 PURCHASES A RENTAL HOUSING ACCOMMODATION UNDER THE RIGHT OF FIRST  OFFER
 SET  FORTH IN SECTION SEVEN HUNDRED NINETY-NINE-K OF THIS ARTICLE SHALL,
 TO THE MAXIMUM EXTENT  PERMITTED  BY  LAW  AND  OTHERWISE  FEASIBLE,  BE
 OBLIGED  TO  WORK WITH THE OWNER IN GOOD FAITH TO FACILITATE AN EXCHANGE
 OF REAL PROPERTY OF THE KIND DESCRIBED IN 26  U.S.C.  §  1031,  FOR  THE
 PURPOSE OF FACILITATING THE OWNER'S REALIZATION OF ANY FEDERAL TAX BENE-
 FITS AVAILABLE UNDER THAT SECTION OF THE INTERNAL REVENUE CODE.
   4.  INFORMATION  TO  OWNERS.  HCR  SHALL  PRODUCE AN INFORMATION SHEET
 DESCRIBING THE BENEFITS OF AN OWNER'S DECISION TO ACCEPT A  TENANTS'  OR
 QUALIFIED  PURCHASER'S  OFFER  OF  PURCHASE  MADE IN CONNECTION WITH THE
 FIRST  RIGHT  TO  PURCHASE  SET  FORTH   IN   SECTIONS   SEVEN   HUNDRED
 NINETY-NINE-K  AND  SEVEN  HUNDRED  NINETY-NINE-L OF THIS ARTICLE.   THE
 INFORMATION SHEET SHALL FURTHER EXPLAIN THAT, EVEN IF AN OWNER DOES  NOT
 ACCEPT  A  TENANT'S  OR QUALIFIED PURCHASER'S OFFER TO PURCHASE A RENTAL
 HOUSING ACCOMMODATION PURSUANT TO THE RIGHT OF FIRST OFFER SET FORTH  IN
 SECTION  SEVEN HUNDRED NINETY-NINE-K OF THIS ARTICLE, THE RENTAL HOUSING
 ACCOMMODATION WILL STILL BE SUBJECT TO THE RIGHT OF  FIRST  REFUSAL  SET
 FORTH IN SECTION SEVEN HUNDRED NINETY-NINE-L OF THIS ARTICLE. THE INFOR-
 MATION  SHEET  SHALL CONTAIN A FIELD IN WHICH THE OWNER MAY ACKNOWLEDGE,
 IN WRITING, THAT THE OWNER, OR THE  OWNER'S  AUTHORIZED  REPRESENTATIVE,
 HAS  READ  AND UNDERSTOOD THE INFORMATION SHEET. A TENANT, TENANT ORGAN-
 IZATION, OR QUALIFIED PURCHASER THAT MAKES AN OFFER TO PURCHASE A RENTAL
 HOUSING ACCOMMODATION UNDER THE  RIGHT  OF  FIRST  OFFER  SET  FORTH  IN
 SECTION  SEVEN  HUNDRED  NINETY-NINE-K  OF THIS ARTICLE, SHALL INCLUDE A
 COPY OF, OR LINK TO, SUCH INFORMATION SHEET WITH SUCH OFFER OF PURCHASE,
 BUT ANY FAILURE TO COMPLY WITH THIS SECTION SHALL HAVE NO  EFFECT  ON  A
 QUALIFIED PURCHASER'S EXERCISE OF THE RIGHT OF FIRST OFFER.
   §  799-T.  ENFORCEMENT.  1.  POWERS  AND  DUTIES  OF HCR. HCR SHALL BE
 AUTHORIZED TO TAKE ALL APPROPRIATE ACTION, INCLUDING BUT NOT LIMITED  TO
 THE  ACTIONS  SPECIFIED  IN  SECTION SEVEN HUNDRED NINETY-NINE-A OF THIS
 ARTICLE, TO IMPLEMENT AND ENFORCE THIS ARTICLE.
   2. IMPLEMENTATION. (A) HCR  SHALL  PROMULGATE  RULES  AND  REGULATIONS
 CONSISTENT WITH THIS ARTICLE.
   (B)  HCR  SHALL  ADOPT REGULATIONS TO IMPLEMENT A PETITION AND HEARING
 PROCEDURE FOR ADMINISTERING THE ENFORCEMENT OF THIS ARTICLE.
   (C) HCR SHALL ESTABLISH  AND  MAKE  AVAILABLE  STANDARD  DOCUMENTS  TO
 ASSIST  OWNERS,  TENANTS, TENANT ORGANIZATIONS, AND QUALIFIED PURCHASERS
 IN COMPLYING WITH THE REQUIREMENTS OF THIS  ARTICLE  THROUGH  AN  ONLINE
 PORTAL,  PROVIDED THAT USE OF SUCH DOCUMENTS DOES NOT NECESSARILY ESTAB-
 LISH COMPLIANCE.
   (D) OWNER CERTIFICATION AND DISCLOSURES. EVERY OWNER OF A  RESIDENTIAL
 PROPERTY  IN  THE  STATE  SHALL, WITHIN FIFTEEN DAYS OF THE SALE OF SUCH
 RESIDENTIAL PROPERTY, SUBMIT TO HCR A SIGNED DECLARATION, UNDER  PENALTY
 OF  PERJURY,  AFFIRMING  THAT  THE  SALE  OF  SUCH  RESIDENTIAL PROPERTY
 COMPLIED WITH THE REQUIREMENTS OF THIS ARTICLE. SUCH  DECLARATION  SHALL
 INCLUDE THE ADDRESS OF THE RELEVANT RESIDENTIAL PROPERTY AND THE NAME OF
 EACH  NEW  OWNER  OF THE RENTAL HOUSING ACCOMMODATION. HCR SHALL PUBLISH
 ALL SUCH ADDRESSES  ON  ITS  WEBSITE.  FAILURE  TO  FILE  A  DECLARATION
 REQUIRED  BY  THIS  PARAGRAPH  SHALL  RESULT IN THE PENALTY DESCRIBED IN
 SUBPARAGRAPH (I) OF PARAGRAPH (B) OF SUBDIVISION THREE OF THIS SECTION.
 S. 221                             22
 
   3. ENFORCEMENT. (A) CIVIL ACTION. ANY PARTY MAY  SEEK  ENFORCEMENT  OF
 ANY  RIGHT  OR PROVISION UNDER THIS ARTICLE THROUGH A CIVIL ACTION FILED
 WITH A COURT OF COMPETENT JURISDICTION AND, UPON  PREVAILING,  SHALL  BE
 ENTITLED TO REMEDIES, INCLUDING THOSE DESCRIBED IN PARAGRAPH (B) OF THIS
 SUBDIVISION.
   (B) PENALTIES AND REMEDIES.
   (I)  CIVIL PENALTIES. AN OWNER WHO WILLFULLY OR KNOWINGLY VIOLATES ANY
 PROVISION OF THIS ARTICLE SHALL BE SUBJECT TO A CUMULATIVE CIVIL PENALTY
 IMPOSED BY HCR IN THE AMOUNT OF UP TO ONE THOUSAND DOLLARS PER DAY,  PER
 TENANT-OCCUPIED  UNIT  IN  A  RENTAL HOUSING ACCOMMODATION, FOR EACH DAY
 FROM THE DATE THE VIOLATION BEGAN UNTIL THE REQUIREMENTS OF THIS ARTICLE
 ARE SATISFIED, PAYABLE TO THE NEW YORK HOUSING TRUST FUND.
   (II) LEGAL REMEDIES. REMEDIES  IN  CIVIL  ACTION  BROUGHT  UNDER  THIS
 SECTION SHALL INCLUDE THE FOLLOWING, WHICH MAY BE IMPOSED CUMULATIVELY:
   (A)  DAMAGES  IN AN AMOUNT SUFFICIENT TO REMEDY THE HARM TO THE PLAIN-
 TIFF;
   (B) IN THE EVENT THAT AN OWNER SELLS A  RENTAL  HOUSING  ACCOMMODATION
 WITHOUT  COMPLYING  WITH  THE  REQUIREMENTS  OF THIS ARTICLE, AND IF THE
 OWNER'S VIOLATION OF THIS ARTICLE  WAS  KNOWING  OR  WILLFUL,  MANDATORY
 CIVIL  PENALTIES  IN  AN  AMOUNT  PROPORTIONAL TO THE CULPABILITY OF THE
 OWNER AND THE VALUE OF THE RENTAL HOUSING ACCOMMODATION. THERE SHALL  BE
 A REBUTTABLE PRESUMPTION THAT THIS AMOUNT IS EQUAL TO TEN PERCENT OF THE
 SALE  PRICE OF THE RENTAL HOUSING ACCOMMODATION FOR A WILLFUL OR KNOWING
 VIOLATION OF THIS ARTICLE, TWENTY PERCENT OF THE SALE PRICE FOR A SECOND
 WILLFUL OR KNOWING VIOLATION, AND THIRTY PERCENT OF THE SALE  PRICE  FOR
 EACH  SUBSEQUENT  WILLFUL OR KNOWING VIOLATION. CIVIL PENALTIES ASSESSED
 UNDER THIS PARAGRAPH SHALL BE PAYABLE TO  THE  NEW  YORK  HOUSING  TRUST
 FUND; AND
   (C) REASONABLE ATTORNEYS' FEES.
   (III)  EQUITABLE REMEDIES. IN ADDITION TO ANY OTHER REMEDY OR ENFORCE-
 MENT MEASURE THAT A TENANT, TENANT ORGANIZATION, QUALIFIED PURCHASER, OR
 HCR MAY SEEK UNDER THIS SECTION, ANY COURT OF COMPETENT JURISDICTION MAY
 ENJOIN ANY SALE OR OTHER ACTION OF  AN  OWNER  THAT  WOULD  BE  MADE  IN
 VIOLATION OF THIS ARTICLE.
   §  799-U. STATUTORY CONSTRUCTION. THE PURPOSE OF THIS ARTICLE SHALL BE
 TO PREVENT THE DISPLACEMENT OF LOWER-INCOME TENANTS IN NEW YORK  AND  TO
 PRESERVE  AFFORDABLE  HOUSING BY PROVIDING AN OPPORTUNITY FOR TENANTS TO
 OWN OR REMAIN RENTERS IN THE  PROPERTIES  IN  WHICH  TENANTS  RESIDE  AS
 PROVIDED  IN  THIS  ARTICLE. IF A COURT FINDS AMBIGUITY AND THERE IS ANY
 REASONABLE INTERPRETATION OF THIS ARTICLE THAT FAVORS THE RIGHTS OF  THE
 TENANT,  THEN  THE  COURT  SHALL  RESOLVE  AMBIGUITY  TOWARD  THE END OF
 STRENGTHENING THE LEGAL RIGHTS OF THE TENANT OR TENANT  ORGANIZATION  TO
 THE MAXIMUM EXTENT PERMISSIBLE UNDER LAW.
   §  799-V.  ADMINISTRATION AND REPORTS. 1. HCR SHALL REPORT ANNUALLY ON
 THE STATUS OF THE TENANT OPPORTUNITY TO  PURCHASE  ACT  PROGRAM  TO  THE
 LEGISLATURE  OR  TO  SUCH  LEGISLATIVE  COMMITTEE AS THE LEGISLATURE MAY
 DESIGNATE. SUCH REPORTS SHALL INCLUDE, BUT SHALL NOT BE LIMITED  TO  THE
 FOLLOWING:
   (A)  STATISTICS  ON  THE  NUMBER AND TYPES OF SALES OF TENANT OCCUPIED
 PROPERTIES;
   (B) STATISTICS ON THE NUMBER OF TENANTS AND QUALIFIED PURCHASERS  THAT
 INVOKE ACTION UNDER THIS ARTICLE;
   (C) NUMBER AND TYPES OF UNITS COVERED BY THIS ARTICLE; AND
   (D) ANY OTHER INFORMATION THE LEGISLATURE OR LEGISLATIVE COMMITTEE MAY
 REQUEST.
 S. 221                             23

   2.  HCR  SHALL  MAKE AVAILABLE TRANSLATION SERVICES IN LANGUAGES OTHER
 THAN ENGLISH, WHERE REQUESTED IN ADVANCE BY A TENANT,  TENANT  ORGANIZA-
 TION,  QUALIFIED PURCHASER, OWNER, OR MEMBER OF THE PUBLIC AS IT RELATES
 TO TOPA, TO INTERPRET AND TRANSLATE DOCUMENTS AND PROCEDURES AS NEEDED.
   §   799-W.  SEVERABILITY.  IF  ANY  WORD,  PHRASE,  CLAUSE,  SENTENCE,
 SUBSECTION, SECTION, OR OTHER PORTION OF THIS ARTICLE, OR  ANY  APPLICA-
 TION THEREOF TO ANY PERSON OR CIRCUMSTANCE IS DECLARED VOID, UNCONSTITU-
 TIONAL,  OR INVALID FOR ANY REASON BY A DECISION OF A COURT OF COMPETENT
 JURISDICTION, THEN SUCH  WORD,  PHRASE,  CLAUSE,  SENTENCE,  SUBSECTION,
 SECTION,  OR OTHER PORTION, OR THE PRESCRIBED APPLICATION THEREOF, SHALL
 BE SEVERABLE, AND THE REMAINING PROVISIONS  OF  THIS  ARTICLE,  AND  ALL
 APPLICATIONS THEREOF, NOT HAVING BEEN DECLARED VOID, UNCONSTITUTIONAL OR
 INVALID,  SHALL REMAIN IN FULL FORCE AND EFFECT.  THE LEGISLATURE HEREBY
 DECLARES THAT IT WOULD HAVE  PASSED  THIS  ARTICLE,  AND  EACH  SECTION,
 SUBSECTION,  SENTENCE, CLAUSE, PHRASE, AND WORD THEREOF, IRRESPECTIVE OF
 THE FACT THAT ANY ONE OR MORE SECTIONS, SUBSECTIONS, SENTENCES, CLAUSES,
 PHRASES, OR WORDS HAD BEEN DECLARED INVALID OR UNCONSTITUTIONAL.
   § 4. This act shall take effect on the one hundred eightieth day after
 it shall have become a law. Effective immediately, the addition,  amend-
 ment and/or repeal of any rule or regulation necessary for the implemen-
 tation  of  this act on its effective date are authorized to be made and
 completed on or before such effective date.