N.Y. Private Housing Finance Law § 1202: Access to home contracts

§ 1202. Access to home contracts. 1. Within the limit of funds

available in the access to home program, the corporation is hereby

authorized to enter into contracts with eligible applicants to provide

financial assistance for the actual costs of an access to home program.

Such costs may include the costs of repairs of eligible properties,

provided that such repairs are related to the adaptation or retrofitting

of such eligible properties, that such repairs are related to the

habitability of such eligible properties, and that the access to home

funds provided to cover the cost of such repairs does not exceed sixty

percent of the access to home program grant or loan. The financial

assistance shall be either in the form of grants or loans, as the

corporation shall determine. No more than fifty percent of the total

amount awarded pursuant to this article in any fiscal year shall be

allocated to access to home programs located within any single

municipality.

2. The total payment pursuant to any one contract shall not exceed

five hundred thousand dollars and the contract shall provide for

completion of the program within a reasonable period, as specified

therein, which shall not in any event exceed three years from its

commencement. Upon request, the corporation may extend the term of the

contract for up to two additional one year periods for good cause shown

by the eligible applicant.

3. The corporation may authorize the eligible applicant to spend up to

ten percent of the contract amount for approved administrative costs

associated with administering the program.

4. The corporation shall require that, in order to receive funds

pursuant to this article, the eligible applicant shall submit a plan

which shall include, but not be limited to, program feasibility, impact

on the community, budget for expenditure of program funds, a schedule

for completion of the program, affirmative action and minority business

participation.