Section 1150. Statement of legislative findings and purposes

It is hereby
  found and declared that there exists in the city of New York a seriously
  inadequate  supply   of   safe,   sanitary   and   affordable   dwelling
  accommodations for persons and families for whom the ordinary operations
  of   private   enterprise   cannot   provide  such  accommodations.  The
  legislature further finds and declares that the city of New York  should
  be permitted to assist the private sector in the development of dwelling
  accommodations  affordable  to  such  persons through establishment of a
  program  to  provide  monies  to  make  the  construction  of   dwelling
  accommodations more affordable. It is recognized that currently the city
  of  New  York  assists  the  development  of such housing accommodations
  through the provisions of articles fifteen and sixteen  of  the  general
  municipal law which permit such assistance on city-owned sites which are
  sold  to  private  developers  or  non-profit groups for construction of
  housing.  It is intended that the city of New York also be authorized to
  expend monies to assist housing  development  on  sites  which  are  not
  city-owned.  Accordingly, the legislature enacts this article to provide
  such authorization  and  to  encourage  the  development  of  additional
  affordable dwelling accommodations.