2021 New York Laws
PVH - Private Housing Finance
Article 19 - Affordable Home Ownership Development Program
1113 - General and Administrative Provisions.

§  1113.  General  and  administrative  provisions. 1. The corporation
shall issue and promulgate rules and regulations for the  administration
of  this  article.  The  rules  and regulations shall include provisions
concerning eligibility  of  grantees  for  state  financial  assistance;
funding  criteria and the funding determination process; supervision and
evaluation  of  the  contracting  grantees;  reporting,  budgeting   and
recordkeeping  requirements;  provisions  for modification, termination,
extension  and  renewal  of  contracts;  and  such  other  matters   not
inconsistent  with  the  purposes  and provisions of this article as the
corporation shall deem necessary, proper or appropriate. Grantees  shall
deposit  any  funds  received  from  the  repayment of loans or interest
received  on  loans  into  the  affordable  home  ownership  development
account.  The  corporation may provide technical services and assistance
or contract to provide technical services and assistance to grantees  to
comply with the provisions and intent of this article which services and
assistance   may  include  but  shall  not  necessarily  be  limited  to
construction skills training, site selection,  financial  packaging  and
engineering  and architectural services necessary for the preparation of
proposals for entering into contracts or for the continued operation  of
projects.
  2.  (a)  The corporation shall provide the commissioner of housing and
community  renewal,  on  a  timely  basis,  with  the  data  and   other
information necessary to compile the report or reports required pursuant
to section twenty of the public housing law.
  (b)  The  corporation  shall, on or before September fifteenth in each
year, submit a proposed budget for the operation of the corporation  for
its  next fiscal year to the director of the budget for his review.  The
chairman of the corporation shall also deliver a copy of such budget  to
the  chairman  of  the  senate finance committee and the chairman of the
assembly ways and means committee at the same time that  the  budget  is
delivered  to  the  director of the budget. The budget shall include the
total amount needed for corporate purposes, including the funds required
by the corporation for its  general  and  administrative  expenses,  the
source  of  all  funds  that the corporation expects to receive and such
other information as the director of the budget shall require.
  3.  The  corporation  shall  require  the  submission  of  the  names,
addresses and business background of the principals involved, the nature
of  their fiduciary relationship and their financial relationship, past,
present and future, to the project and to each other.