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ALBANY-The New York State Public Authorities Control Board has approved the issue of $54 million in fixed-rate bonds to finance the transfer of a statewide Mitchell-Lama housing loan portfolio from New York State Empire State Development‘s Urban Development Corp. to New York State Homes & Community Renewal. The 8,628 multifamily units are located in 35 separate housing developments across the state, and the shift is intended to facilitate rehabilitation of Mitchell-Lama housing units that are suffering from deferred maintenance.

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