On Monday, August 27, 2018 the Board of Commissioners of the Troy Housing Authority will be canvassed to vote on the below resolution authorizing the formation of MLK 2 Housing Development Fund Company, Inc. In accordance with Section 5 of Troy Housing Authority’s By-Laws information pertaining to this resolution is circulated to all board members on August 23, 2018 and posted on the Troy Housing Authority website and Facebook page for public review and comment for not less than 24 hours prior to the board being canvassed to vote on this resolution.
The Resolution: THA Resolution Sponsoring MLK2 HDFC, Inc.
The Troy Housing Authority (“THA”) is the owner of certain property located at Eddy’s Lane and Oakwood Avenue, City of Troy, County of Rensselaer, State of New York (the “Premises”). THA desires to rehabilitate and construct fifty-eight (58) residential rental units on the Premises for persons and families of low-income thereon, together with any associated parking, community or common space, in order to provide safe, decent, affordable housing for the tenants thereof (the “Project”). THA desires to sponsor the formation of a housing development fund company to be organized under Section 402 of the Not-For-Profit Corporation Law and Article XI of the Private Housing Finance Law in connection with the rehabilitation of the Project.
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