N.Y. Private Housing Finance Law § 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.