N.Y. Private Housing Finance Law § 65-c: Approval of funding agreement; issuance of requests for proposals

§ 65-c. Approval of funding agreement; issuance of requests for

proposals. The city's funds for such projects shall be provided as

payments, grants or loans pursuant to a funding agreement or agreements

with the agency. Any such agreement shall include the amount of funding

to be provided by the city, the manner in which the city will make the

funds available to the agency or the agency's designee, and a

description of the projects and project sites, and shall be subject to

the approval of the mayor and the local legislative body of the city.

Notwithstanding any inconsistent provisions of law, general, special or

local, or charter, the mayor and the local legislative body shall take

action to approve or disapprove such agreement within sixty days of its

submission, provided, however, that if the mayor fails to approve or

disapprove the agreement during such period the mayor shall be deemed to

have approved the agreement and provided further that if the local

legislative body fails to approve or disapprove such agreement during

such period the local legislative body shall be deemed to have approved

the agreement. In the case of a project for which a not-for-profit

corporation, housing development fund company or limited profit entity

has provided sites with the city's approval, approval by the mayor and

the local legislative body shall not be required under this section

where such project has already received approval from the mayor and the

local legislative body. Upon approval by the mayor and the local

legislative body of such agreement, and upon satisfaction of such other

conditions as the agency may establish, including but not limited to,

satisfactory assurances from the city that projects on approved sites

will receive expedited reviews by city departments and agencies having

jurisdiction over the project, the agency is authorized to issue one or

more requests for proposals to developers who shall be not-for-profit

organizations or persons, partnerships, corporations or other entities

that will agree to limit their profits or rate of return of investors in

accordance with a formula established or approved by the agency with

respect to the project, for the development, design, construction, or

rehabilitation of permanent housing projects for eligible homeless

families. Approval of an agreement by the mayor and the local

legislative body pursuant to this section shall not itself require

compliance with any local land use review procedure, nor shall it

constitute an action for purposes of article eight of the environmental

conservation law, provided, however, that this section shall not grant

any exemption from such procedures or laws if otherwise applicable.

Notwithstanding the provisions of article one-A of the public

authorities law, contracts entered into by the agency pursuant to this

article shall not be subject to the provisions of article one-A of the

public authorities law.