§201H 58 - Leases; self-help housing.
[§201H‑58] Leases; self-help housing. (a) The [corporation] may lease parcels that it deems suitable for affordable housing at $1 per year for up to fifty years to organizations or community trusts to develop the parcel with ownership units through self-help development.
(b) The [corporation] may extend or modify the fixed rental period of the lease or extend the term of the lease.
(c) Parcels leased under this section may be transferred or assigned by devise, bequest, or intestate succession, and may be sublet with the approval of the [corporation]. [L 2006, c 179, §4]