Ossining, N.Y., Code of Ordinances ch. 62 (eCode360 ed. 2026) § 62-5
Affordable housing fund
Operative Text
A. Buyout payments made pursuant to §§ 62-3E and 62-4E shall be deposited in the Village's affordable housing fund which will be used to advance the Village's affordable housing program or aid in the new construction or rehabilitation of affordable housing units in the Village as determined by the Village Board. B. The payments and uses for the fund will be as determined by the Village Board and shall be set forth in the Affordable Housing Rules and Regulations promulgated, adopted and as amended from time to time with Village Board approval. C. The Village Board shall be responsible for the administration and approval process of the affordable units; however, it may appoint, retain or hire individuals, boards, committees and/or organizations to administer and/or grant necessary approvals as outlined in the Affordable Housing Rules and Regulations.
Under Ossining, N.Y., Code of Ordinances ch. 62 § 62-5, certain buyout payments required by other sections of Chapter 62 must be deposited into the Village's affordable housing fund. That fund is dedicated to supporting the Village's affordable housing program, including new construction or rehabilitation of affordable housing units. The Village Board controls how the fund's money is collected and spent, and it may delegate administrative responsibilities to appointed individuals, committees, or organizations under the Affordable Housing Rules and Regulations.
Plain English — not legal advice.
Property owners or managers who make buyout payments under the provisions referenced in ch. 62 § 62-5 should be aware that those payments are directed into a designated affordable housing fund rather than to any individual party. Compliant operators typically ensure that payments are made in the amounts and manner specified by the Village Board's Affordable Housing Rules and Regulations. Staying current with any amendments to those rules, which the Village Board may update from time to time, is a standard part of ongoing compliance.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Section 62-5 of Ossining's Code of Ordinances establishes that buyout payments connected to tenant displacement are funneled into a public affordable housing fund, not retained by landlords. Tenants who believe a buyout payment required under Chapter 62 was not properly made may wish to contact the Village of Ossining or review the Affordable Housing Rules and Regulations to understand how the fund is administered. Tenant-rights organizations familiar with Ossining's local ordinances can help residents understand what protections and remedies may be available under this provision.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated November 9, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
Effective Timeline
References In
Rules and statutes that cite this regulation