§ 44-a. Low rent dwelling accommodations. 1. Subject to the approval\nof the commissioner and to the provisions of any contract with\nnoteholders and bondholders, the agency shall have the power to lease\ndwellings in a project, not to exceed twenty per centum of the dwellings\nin such project, from a company, except that in the case of a project\nlocated in an area in which the commissioner finds that unusually\ndifficult housing conditions exist, the number of dwellings which may be\nleased by the agency shall not exceed fifty per centum, and except that\nthe agency may lease all or any portion of the dwellings in a non-profit\ncompany project designed or intended for occupancy by aged persons, at\nsuch rentals as may be fixed therefor by such company and approved by\nthe commissioner or the supervising agency, as the case may be, pursuant\nto the provisions of subdivision one of section thirty-one of this\nchapter less an appropriate adjustment for the increased tax exemption,\nif any, attributable to such dwellings pursuant to subdivision two of\nsection thirty-three of this chapter; and to sublet such dwellings, in\naccordance with subdivision two of this section, to persons or families\neligible therefor in accordance with the provisions of paragraph (a) of\nsubdivision two of section thirty-one of this chapter, except that\ndwellings in a non-profit company project designed or intended for\noccupancy by the aged shall be sublet only to aged persons, and except\nthat in the case of mutual companies, dwellings may be leased only when\nthe agency shall purchase the shares appertaining to such dwellings.\n 2. The rental of any dwelling sublet in accordance with subdivision\none of this section shall be fixed at an amount equal to twenty per\ncentum of the probable aggregate annual income of the occupants thereof,\ndetermined in accordance with section thirty-one of this chapter, at the\ntime of the execution of such sublease and at a time thereafter\nproximate to each anniversary date of the execution of such sublease and\nat the time of any renewal or extension of such sublease, provided that\nno such dwelling shall be sublet (a) at an average rental of less than\nfifteen dollars per room per month or at a rental less than that of\ncomparable dwellings in new state-aided public housing projects in the\ncommunity, whichever is greater, or (b) to a person or family whose\nprobable aggregate annual income exceeds five times the rental fixed\ntherefor by the company pursuant to subdivision one of section\nthirty-one of this chapter, provided however, such person or family may\ncontinue to occupy such dwelling and pay to the agency such fixed\nrental, including any surcharges which would otherwise be authorized if\nsuch person or family were a tenant of the company, until the company\nshall have entered into a lease with such person or family or until such\nperson or family has vacated or has been caused to vacate such dwelling.\n 3. Subject to the approval of the commissioner and to the provisions\nof any contract with noteholders and bondholders, the agency shall have\nthe power to lease dwellings, within areas designated to receive\nbenefits under the federal demonstration cities and metropolitan\ndevelopment act of nineteen hundred sixty-six, in a multiple dwelling\nreceiving benefits and subject to control of its rents under article\neight of this chapter from the owner thereof at such rentals as may be\napproved by the governmental agency having jurisdiction pursuant to the\nprovisions of section four hundred five of this chapter; and to sublet\nsuch dwellings to persons or families eligible therefor in accordance\nwith the provisions of subdivision three of section four hundred one of\nthis chapter. The rental of any dwelling sublet pursuant to this\nsubdivision shall be fixed at an amount equal to twenty per centum of\nthe probable aggregate annual income of the occupants thereof,\ndetermined in accordance with subdiv
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