N.Y. Private Housing Finance Law § 923: General and administrative provisions

§ 923. 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 shall provide for the review, at periodic

intervals, of the performance of the not-for-profit corporations and

charitable organizations receiving financial assistance pursuant to this

article. Such review shall, among other things, be for the purposes of

ascertaining conformity to contractual provisions, the financial

integrity and efficiency of the organizations and the evaluation of the

project.