The initial rent-stabilized rents were based on the last Mitchell-Lama rents, which landlord claimed had been kept too low by the Private Housing Finance Law.
What does PHFL stand for?
PHFL stands for Private Housing Finance Law
This definition appears somewhat frequently and is found in the following Acronym Finder categories:
- Military and Government
- Post-Hypoxia Frequency Decline (aka Post-Hypoxic Frequency Decline)
- Public Health Foundation Enterprises
- Pretty Hill Film Festival (Canada)
- Primary Human Fetal Glial
- Paterson Habitat for Humanity (Paterson, New Jersey)
- Peninsula Habitat for Humanity (California)
- Portland Habitat for Humanity (Oregon)
- Public Health Foundation of India
- Public Health Futures Illinois (now Illinois Public Health Institute)
- Pumpkin Seed Hageman Factor Inhibitor (biochemistry)
- Pharaoh Hound Fanciers of Northern California
- Partially Hydrogenated Fish Oil
- Post-Harvest Fisheries Research Programme (Department for International Development; UK)
- Partial-Height Ferrite-Slab
- Pagan Hospice and Funeral Trust (UK)
- Port Hope Festival Theatre (Cameco Capital Arts Center; Canada)
- Graduate in Pharmacy
- Koninklijke Philips Electronics (stock symbol)
- Palestinian Hydrology Group
- Peeter Heynsgenootschap (Dutch: Peeter Heyns Society; Netherlands)
Samples in periodicals archive:
Currently, the Private Housing Finance Law authorizes refinancing of Mitchell-Lama mortgages under narrowly defined circumstances that do not address the physical and financial issues currently facing these developments.
REMIC was created in January 1993 as a public benefit corporation under New York State Private Housing Finance Law and is a wholly owned subsidiary of New York City Housing Development Corp.
3(f)(4) was added in 2007 to provide that prior regulation of rents under the Private Housing Finance Law or any other state or federal law didn't, in and of itself, constitute a unique and peculiar circumstance.
Another issue to be worked out is whether the bill has any bite at all, since Mitchell-Lama developments were created under a state program in 1955 and is officially embodied in the state's Private Housing Finance Law.
Withdrawal from Mitchell-Lama and simultaneous ending of rent regulation under the Private Housing Finance Law ended the J-51 tax benefits.
Additionally, co-op and condo units with 421 exemptions, J-51 exemptions, or those that are totally exempt under the Private Housing Finance Law, such as Mitchell Lama Coops, Housing Development Fund Companies and Limited Equity Housing Corporations, are not eligible for the proposed relief unless participation in the other programs is waived by the board.
In addition, buildings formerly owned by the city and managed through the tenant's interim lease program, and thereafter converted to a not-for-profit housing cooperative corporation under the Business Corporation Law and the Private Housing Finance Law, are exempt from rent stabilization by law.