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Mitchell–Lama Housing Program
The Mitchell–Lama Housing Program is a non-subsidy governmental housing guarantee in the state of New York. It was sponsored by New York State Senator MacNeil Mitchell and Assemblyman Alfred A. Lama and signed into law in 1955. The program's publicly stated purpose was the development and building of affordable housing, both rental and co-operatively owned, for middle-income residents.New York State Division of Housing and Community Renewal (DCHR) – now merged into the NYS Housing and Community Renewal/ref> Under this program, local jurisdictions acquired property by eminent domain and provided it to developers to develop housing for low- and middle-income tenants. Developers received tax abatements as long as they remained in the program, and low-interest mortgages, subsidized by the federal, state, or New York City government. They were also guaranteed a 6% or, later, 7.5% return on investment each year. The program was based on the Morningside Gardens housing coop ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Co-op City Hutch River
A cooperative (also known as co-operative, coöperative, co-op, or coop) is "an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise". Cooperatives are democratically controlled by their members, with each member having one vote in electing the board of directors. They differ from collectives in that they are generally built from the bottom-up, rather than the top-down. Cooperatives may include: * Worker cooperatives: businesses owned and managed by the people who work there * Consumer cooperatives: businesses owned and managed by the people who consume goods and/or services provided by the cooperative * Producer cooperatives: businesses where producers pool their output for their common benefit ** e.g. Agricultural cooperatives * Purchasing cooperatives where members pool their purchasing power * Multi-stakeholder or hybrid cooperatives tha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
173rd New York State Legislature
The 173rd New York State Legislature, consisting of the New York State Senate and the New York State Assembly, met from January 4, 1961, to March 31, 1962, during the third and fourth years of Nelson Rockefeller's governorship, in Albany. Background Under the provisions of the New York Constitution of 1938, re-apportioned in 1953, 58 Senators and 150 assemblymen were elected in single-seat districts for two-year terms. The senatorial districts consisted either of one or more entire counties; or a contiguous area within a single county. The counties which were divided into more than one senatorial district were Kings (nine districts), New York (six), Queens (five), Bronx (four), Erie (three), Nassau (three), Westchester (three), Monroe (two) and Onondaga (two). The Assembly districts consisted either of a single entire county (except Hamilton Co.), or of contiguous area within one county. At this time there were two major political parties: the Republican Party and the Demo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Demutualization
Demutualization is the process by which a customer-owned mutual organization (''mutual'') or co-operative changes legal form to a joint stock company. It is sometimes called stocking or privatization. As part of the demutualization process, members of a mutual usually receive a windfall gain, "windfall" payout, in the form of shares in the successor company, a cash payment, or a mixture of both. Mutualization or mutualisation is the opposite process, wherein a shareholder-owned company is converted into a mutual organization, typically through takeover by an existing mutual organization. Furthermore, re-mutualization depicts the process of aligning or refreshing the interest and objectives of the members of the Mutual organization, mutual society. The mutual traditionally raises Capital (economics), capital from its customer members in order to provide services to them (for example building society, building societies, where members' savings enable the provision of Mortgage loan, m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing Co-operative
A housing cooperative, or housing co-op, is a legal entity which owns real estate consisting of one or more residential buildings. The entity is usually a cooperative or a corporation and constitutes a form of housing tenure. Typically housing cooperatives are owned by shareholders but in some cases they can be owned by a non-profit organization. They are a distinctive form of home ownership that have many characteristics that differ from other residential arrangements such as single family home ownership, condominiums and renting. The cooperative is membership based, with membership granted by way of a share purchase in the cooperative. Each shareholder in the legal entity is granted the right to occupy one housing unit. A primary advantage of the housing cooperative is the pooling of the members' resources so that their buying power is leveraged; thus lowering the cost per member in all the services and products associated with home ownership. Another key element in som ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Office Of Rent Administration
Rent regulation in New York is a means of limiting the amount of rent charged on dwellings. Rent control and rent stabilization are two programs used in parts of New York state (and other jurisdictions). In addition to controlling rent, the system also prescribes rights and obligations for tenants and landlords. Each city in the state chooses whether to participate. As of 2007, 51 municipalities participated in the program, including Albany, Buffalo, and New York City, where over one million apartments are regulated. Other rent-controlled municipalities include Nassau, Westchester, Rensselaer, Schenectady, and Erie counties. In New York City, rent stabilization applies to all apartments except for certain classes of housing accommodations for so long as they uphold the status that gives them the exemption. Rent control Qualification To qualify for rent control, a tenant must have been continuously living in an apartment since July 1, 1971, or be a qualifying family member wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rent Stabilization
Rent regulation is a system of laws for the rental market of dwellings, with controversial effects on affordability of housing and tenancies. Generally, a system of rent regulation involves: *Price controls, limits on the rent that a landlord may charge, typically called rent control or rent stabilization *Eviction controls: codified standards by which a landlord may terminate a tenancy *Obligations on the landlord or tenant regarding adequate maintenance of the property *A system of oversight and enforcement by an independent regulator and ombudsman The loose term "rent control" covers a spectrum of regulation which can vary from setting the absolute amount of rent that can be charged, with no allowed increases, to placing different limits on the amount that rent can increase; these restrictions may continue between tenancies, or may be applied only within the duration of a tenancy. As of 2016, at least 14 of the 36 OECD countries have some form of rent control in effect, inc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Land Use Agreement
Land, also known as dry land, ground, or earth, is the solid terrestrial surface of Earth not submerged by the ocean or another body of water. It makes up 29.2% of Earth's surface and includes all continents and islands. Earth's land surface is almost entirely covered by regolith, a layer of rock, soil, and minerals that forms the outer part of the crust. Land plays an important role in Earth's climate system, being involved in the carbon cycle, nitrogen cycle, and water cycle. One-third of land is covered in trees, another third is used for agriculture, and one-tenth is covered in permanent snow and glaciers. The remainder consists of desert, savannah, and prairie. Land terrain varies greatly, consisting of mountains, deserts, plains, plateaus, glaciers, and other landforms. In physical geology, the land is divided into two major categories: Mountain ranges and relatively flat interiors called cratons. Both form over millions of years through plate tectonics. Stre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Landlord
A landlord is the owner of property such as a house, apartment, condominium, land, or real estate that is rented or leased to an individual or business, known as a tenant (also called a ''lessee'' or ''renter''). The term landlord applies when a juristic person occupies this position. Alternative terms include lessor and owner. For female property owners, the term landlady may be used. In the United Kingdom, the manager of a pub, officially a licensed victualler, is also referred to as the landlord/landlady. In political economy, landlord specifically refers to someone who owns natural resources (such as land, excluding buildings) from which they derive economic rent, a form of passive income. History The concept of a landlord can be traced to the feudal system of manoralism ( seignorialism), where landed estates were owned by Lords of the Manor ( mesne lords). These lords were typically members of the lower nobility who later formed the rank of knights during ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Apartment
An apartment (American English, Canadian English), flat (British English, Indian English, South African English), tenement (Scots English), or unit (Australian English) is a self-contained housing unit (a type of residential real estate) that occupies part of a building, generally on a single story. There are many names for these overall buildings (see below). The housing tenure of apartments also varies considerably, from large-scale public housing, to owner occupancy within what is legally a Condominium (living space), condominium (strata title or commonhold) or leasehold, to tenants renting from a private landlord. Terminology The term ''apartment'' is favoured in North America (although in some Canadian cities, ''flat'' is used for a unit which is part of a house containing two or three units, typically one to a floor). In the UK and Australia, the term ''apartment'' is more usual in professional real estate and architectural circles where otherwise the term ''flat'' is u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1199 Plaza
The 1199 Plaza is a housing cooperative in East Harlem. Located on First Avenue, on the western bank of the East River, the 1199 Plaza consists of four 31-story towers, joined by mid-rise units which extend toward the riverbank. 1199 Plaza opened in 1974, as a low-to-middle income housing complex. The 1199 Plaza traces its origin to the 1199 union, which consisted mainly of female lower-income hospital workers. The 1199 union members wanted housing that was safe, affordable, and socially inclusive. Hodne/Stageberg Partners, Inc served as the architects of the project, while Ruberoid supplied building materials. In the 1990s, the 1199 Plaza began offering housing for non-HUD applicants. A new title, East River Landing, was adopted. The 1199 Plaza has thus become a hybrid project, housing both middle-income and higher-income applicants, in addition to poorer residents. The 1199 Plaza has been described as a "city within a city", owing to its sheer scale and unique design. Sev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Co-op City, Bronx
Co-op City (short for Cooperative City) is a cooperative housing development located in the northeast section of the borough of the Bronx in New York City. It is bounded by Interstate 95 to the southwest, west, and north and the Hutchinson River Parkway to the east and southeast, and is partially in the Baychester and Eastchester neighborhoods. With 43,752 residents as of the 2010 United States Census, it is the largest housing cooperative in the world. It is in New York City Council District 12. Co-op City was formerly marshland before being occupied by an amusement park called Freedomland U.S.A. from 1960 to 1964. Construction began in 1966 and the first residents moved in two years later, though the project was not completed until 1973. The construction of the community was sponsored by the United Housing Foundation and financed with a mortgage loan from New York State Housing Finance Agency. The community is part of Bronx Community District 10 and its ZIP Code is 10 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
