N.Y. Private Housing Finance Law § 922: Urban initiative contracts

§ 922. Urban initiative contracts. 1. Within the limit of funds

available in the urban initiative program, the corporation is hereby

authorized to enter into contracts with eligible applicants to provide

state financial assistance for the project costs attributable to urban

initiatives projects within neighborhoods. The state financial

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

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

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

allocated to urban initiatives projects located within any single

municipality.

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

exceed two hundred thousand dollars and the contract shall provide for

completion of the project within a reasonable period, as specified

therein which shall not in any event exceed two years from its

commencement. Up to ten percent of the project cost may be used for the

eligible applicant's operating expenses including expenses related to

organization operating support and administration of the contract.

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

pursuant to this article, the eligible applicant must submit an

operating plan which shall include but not be limited to project

feasibility, leveraging, impact on the community, group capability, and

affirmative action and minority business participation. Such plan shall

be submitted pursuant to a request for proposals issued by the

corporation.

4. The eligible applicant which proposes to contract with the

corporation shall be a bona fide organization or a successor

organization with appropriate experience in community revitalization

activities and shall demonstrate by its immediate past and current

activities that it has, or shows that it can acquire, the capability and

expertise to successfully complete the proposed project. The eligible

applicant's officers, directors and members must be representative of

the residents and other legitimate interests of the neighborhood.

5. Occupant selection procedures shall be established which provide

that any lawful occupants who live in a project prior to rehabilitation

shall not be displaced as a result of such rehabilitation, other than

temporarily, in which case suitable relocation arrangements shall be

provided, and that any additional occupants who move into a project are

persons of low income. Preference in selection of such additional

occupants (i) shall be given to persons or families with the lowest

incomes possible, given the income requirements of the project; and (ii)

shall also be given to persons or families whose current housing fails

to meet basic standards of health and safety and who have little

prospect of improving the condition of their housing except by residing

in a project receiving payments, grants or loans under this article.

6. For any application for such a contract under this article, the

corporation shall provide the applicant with a list of conditions that

must be met prior to entering into a contract pursuant to this article.

Within fifteen working days of receipt by the corporation of all

documents in satisfaction of the list, the corporation shall notify the

applicant of the sufficiency or insufficiency of the documents. After

satisfaction by the applicant of all conditions required by the

corporation prior to entering into a contract the corporation shall

enter into the contract within forty-five working days of satisfaction

of such conditions.