2013 New York Consolidated Laws
PVH - Private Housing Finance
Article 16 - (901 - 910) NEIGHBORHOOD PRESERVATION COMPANIES
904 - Payments to neighborhood preservation companies for neighborhood preservation activities.

 
    §   904.   Payments   to   neighborhood   preservation  companies  for
  neighborhood preservation activities. 1. Each contract entered into with
  a neighborhood preservation company shall provide  for  payment  to  the
  neighborhood   preservation   company   for   neighborhood  preservation
  activities to be performed by it.
    2. Payment to neighborhood preservation  companies  pursuant  to  this
  article shall be restricted to sums required for the payment of salaries
  and  wages  to  employees of such companies who are engaged in rendering
  neighborhood  preservation   activities,   fees   to   consultants   and
  professionals   retained  by  them  for  planning  and  performing  such
  activities and  other  costs  and  expenses  directly  related  to  such
  employees, consultants and professionals.
    3.  In  no  event shall any contract or payment be made, nor shall any
  payments be used, to defray  the  costs  of  the  construction,  repair,
  renovation,  rehabilitation, operation, demolition, clearance or sealing
  of any building or other structure, except that such funds may  be  used
  for   planning   any   such  activity  and  for  renovating,  repairing,
  furnishing, equipping and operating an office facility  to  be  used  in
  connection  with  the conduct of neighborhood preservation activities by
  the neighborhood preservation company. Payments shall  be  made  by  the
  division  to  the neighborhood preservation company, not less frequently
  than semi-annually, at or prior to the commencement of  each  such  time
  period,  to  compensate  such  company for the neighborhood preservation
  activities which it shall  undertake  to  perform  provided,  that  with
  respect  to  contracts entered into on or after June thirtieth, nineteen
  hundred ninety-seven the  first  such  payment  shall  be  made  by  the
  division  beginning  on or after July first of the fiscal year for which
  an appropriation in support  of  such  payment  was  made  and  provided
  further  that  the  final  such payment to the neighborhood preservation
  company shall be made no later than March thirty-first  of  such  fiscal
  year,  unless  such  payment  has  been withheld pursuant to subdivision
  eight of section nine hundred three of this article.
    4. In negotiating each contract, the division shall consider and  take
  into  account any and all other sums available or anticipated to be made
  available to the neighborhood preservation  company  from  any  and  all
  sources  which  may  be  used  to  defray  the costs of the neighborhood
  preservation activities set forth in the  contract,  including,  without
  limitation,  fees generated by the management of housing accommodations,
  contributions  from  private  foundations,   corporations,   firms   and
  individuals  and  funds  received under grants and contracts pursuant to
  any program or programs operated or  administered  by  any  governmental
  agency  or  instrumentality and shall make a determination that the sums
  available or anticipated to  be  made  available  for  the  neighborhood
  preservation company from such other sources, together with the value of
  services to be rendered for the benefit of the neighborhood preservation
  company  for  which  payment is not required to be made by such company,
  amount to at least thirty-three and one-third percent of the  amount  of
  such contract.
    5.  When disbursing funds for contracts with neighborhood preservation
  companies, pursuant to section nine hundred three of this  article,  the
  division  shall  use  the  following  criteria,  formulas  and tables to
  determine the distribution of funds:
    (a)(i) The total unmerged company  funding  shall  equal  the  current
  number of unmerged company contracts multiplied by the per group award.
    (ii) The unmerged company funding shall equal the per group award.
    (iii)  The merged company funding shall equal the funding modification
  multiplied by the per group award.

    (b) Merged company funding shall be determined on an individual  basis
  for  each  neighborhood  preservation company. The following tables show
  the funding modification to be used:
    (i) In the case of two companies merging, the following table shall be
  used:
            Years since    Funding
            merger         modification
              1              200%
              2              190%
              3              180%
              4              170%
              5              160%
              6              150%
    (ii) In the case of three companies merging, the following table shall
  be used:
            Years since    Funding
            merger         modification
              1              300%
              2              290%
              3              280%
              4              270%
              5              260%
              6              250%
              7              240%
              8              230%
              9              220%
              10             210%
              11             200%
    (iii)  In  the  case  of four or more companies merging, the following
  table shall be used:
            Years since      Funding
              merger       modification
                1              400%
                2              390%
                3              380%
                4              370%
                5              360%
                6              350%
                7              340%
                8              330%
                9              320%
               10              310%
               11              300%
               12              290%
               13              280%
               14              270%
               15              260%
               16              250%
    (c) If a neighborhood preservation company that has undergone a merger
  continues to renew their contract beyond the timeframes  listed  in  the
  above  tables,  it  shall  have  its  funding  determined using the last
  funding modification listed.
    (d) The merged company savings shall be determined  on  an  individual
  basis for each merged company. It shall be calculated by subtracting the
  amount  of  such  company's  merged  company funding from the amount the
  merged companies would have received if  they  had  maintained  separate
  contracts.

    (e)  The per group award shall equal the total funding available minus
  the  amount  for  the  contract  with  the   neighborhood   preservation
  coalition, which shall equal the total unmerged company funding plus the
  sum  of  the  merged  company funding plus the sum of the merged company
  savings.