N.Y. Private Housing Finance Law § 1103: General and administrative provisions

§ 1103. 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 the eligibility of applicants for payments, grants and loans

under this article; funding criteria and the funding determination

process; supervision and evaluation of contracting applicants;

reporting, budgeting and record-keeping requirements; provisions for

modification and termination of contracts; and such other matters not

inconsistent with the purposes and provisions of this article as the

corporation shall deem necessary or appropriate.

2. The corporation may provide technical services and assistance or

contract to provide technical services and assistance to eligible

applicants to comply with the provisions and intent of this article

which services and assistance may include but shall not necessarily be

limited to rehabilitation 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 cooperative or condominium, homesteading or

rental rehabilitation projects.

3. 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.

4. 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.