These regulations implement the provisions of Article XVIII-A of the Private Housing Finance Law (the Act) which establishes a program to provide grants or loans which shall be used to pay for all or a portion of the project costs of constructing or rehabilitating turnkey/enhanced rental projects, which shall thereafter be owned by eligible owners for the benefit of persons of low income.
N.Y. Comp. Codes R. & Regs. Tit. 9 § 1920.1