2013 New York Consolidated Laws
PVH - Private Housing Finance
Article 16 - (901 - 910) NEIGHBORHOOD PRESERVATION COMPANIES
905 - Periodic review of contract performance; renegotiation and termination of contract.

 
    §  905.  Periodic  review  of  contract performance; renegotiation and
  termination of  contract.  1.  The  division  shall,  by  regulation  as
  hereinafter  provided,  provide for formal evaluation of the performance
  of a company to determine  its  progress  in  achieving  the  objectives
  outlined  in  the annual neighborhood preservation plan contained in its
  contract with the division. Such evaluation shall include  a  review  of
  the efforts of the company to execute each of the components of its plan
  and  a  consultation  between the company and the division regarding the
  findings of the division relative to  performance.  The  division  shall
  provide  or  cause  to be provided technical assistance determined to be
  necessary by the division to improve  the  ability  of  the  company  to
  execute  each  of  the  components  of  its  plan.  Such  evaluation and
  determination of the need for technical assistance  shall  consider  the
  financial  and  staff  resources of the company for the period evaluated
  and  any  special  considerations  which  may  have  had  an  impact  on
  performance during the period.
    2.  If  the division determines that a company has not made sufficient
  progress toward achieving the  objectives  of  its  annual  neighborhood
  preservation  plan  the  division  shall  conduct a site visit to review
  these findings and, if warranted, shall place the company on probation.
    3. The division shall terminate or not renew or not extend a  contract
  in accordance with provisions of subdivision six of section nine hundred
  three   of   this  article  if  the  commissioner  determines  that  the
  performance  of  a  company  is  not  sufficient  to   merit   continued
  participation in the program.
    4.  Notwithstanding  the foregoing, the commissioner may terminate any
  contract  upon  a  finding  of  substantial  non-compliance   or   other
  substantial breach of the contract.