§ 41. Statement of legislative findings and purposes. 1. There\ncontinues to exist in the state a seriously inadequate supply of safe\nand sanitary dwelling accommodations, non-housekeeping accommodations,\naged care accommodations or accommodations for handicapped persons\nwithin the financial reach of families and persons (including aged and\nhandicapped persons) of low income. This condition is contrary to the\npublic interest and threatens the health, safety, welfare, comfort and\nsecurity of the people of the state.\n 2. The ordinary operations of private enterprise cannot provide an\nadequate supply of safe and sanitary dwelling accommodations,\nnon-housekeeping accommodations, aged care accommodations and\naccommodations for handicapped persons at rentals which families and\npersons of low income can afford. In order to encourage the investment\nof private capital and provide such dwelling accommodations,\nnon-housekeeping accommodations, aged care accommodations and\naccommodations for handicapped persons provision should be made for\nmortgage loans, at low interest rates, to housing companies which,\nsubject to state regulation as to rents, profits, dividends and\ndisposition of their property, supply multiple dwelling accommodations,\nnon-housekeeping accommodations, aged care accommodations and\naccommodations for handicapped persons, and other facilities incidental\nor appurtenant thereto, to such families and persons. For that purpose\nthere should be created a corporate governmental agency of the state, to\nbe known as the "New York state housing finance agency," which, through\nthe issuance of its bonds, notes or other obligations to the private\ninvesting public, may attract a broad base of investment by the greatest\nnumber of the general public and obtain the funds necessary to make or\nfinance the making of such mortgage loans. Thus, private capital will be\nencouraged to enter this field of investment and will help meet the\nhousing needs of families and persons of low income. Provision should\nalso be made for the New York state housing finance agency to lease such\ndwelling accommodations and to receive appropriations from the state, in\naid of providing housing in limited profit housing company projects for\npersons and families of low income who would otherwise be eligible for\noccupancy in low rent public housing.\n * 2-a. Programs to attract capital to provide dwelling accommodations\nwhich families and persons of low and moderate income can afford may not\nbe economically feasible without adequate subsidy where all of the units\nin the multiple dwelling accommodations to be financed are regulated as\nto rents, profits, dividends and disposition of the owner's property. In\nsuch cases the New York state housing finance agency should provide\nresidential units for such families and persons by making loans, or\nfinancing the making of such loans, to the owners of housing\ndevelopments which will be required to supply, for a reasonable period\nof time, a portion of residential units to such families and persons at\nrentals they can afford. Further it is the policy of the state through\nthe New York state housing finance agency to maximize as fully as\npossible consistent with the economic feasibility of each housing\ndevelopment the affordability, period of occupancy, and number of units\nin those portions of each housing development which are designed to be\naffordable to persons of low and moderate income.\n * NB Repealed July 23, 2027\n 3. There is also threatened in the state an inadequate supply of\nacademic buildings and other facilities at the state-operated\ninstitutions and statutory and contract colleges under the jurisdiction\nof the state university of New York when needed and when scheduled under\nthe approved master plan of the state university. In order to encourage\nthe investment of private capital in such academic buildings and other\nfacilities and to assure their timely constructi
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