N.Y. Special Needs Housing Act 261/88 § 5: General and administrative provisions

§ 5. General and administrative provisions. (a) The corporation shall

provide for the review, at periodic intervals, of the performance of the

corporations receiving funding pursuant to this act under their

respective contracts with the corporation. Such reviews shall, among

other things, be for the purposes of ascertaining conformity to contract

provisions, the financial integrity and efficiency of the corporations,

and the evaluation of the project. Contracts may be terminated by the

corporation upon a finding of substantial nonperformance or other breach

by the corporation, and contracts may be modified by mutual agreement

from time to time, in the light of actual performance, new or changed

conditions, or otherwise.

(b) The corporation shall issue and promulgate rules and regulations

for the administration of this section, which rules and regulations

shall include provisions concerning requirements as to eligibility for

contracting with the corporation; the form of applications or contracts;

supervision and evaluation of contracting corporations; reporting,

budgeting and record keeping requirements; provisions for modification,

termination, extension and renewal of contracts; and such other matters

not inconsistent with the purposes and provisions of this section as the

corporation shall deem necessary, proper or appropriate.

(d) Every contract entered into pursuant to this act shall contain a

provision that in the event the property which is the subject of such

contract cease to be used as specified in the contract at any time

during the seven year period commencing with the date such contract is

executed, or in case of any other substantial violation, the corporation

may terminate the contract and may require the repayment of any moneys

previously advanced to such corporation pursuant to the terms of such

contract.

(e) The corporation shall require 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.

(f) Notwithstanding the provisions of any general or special law, the

director of the budget is authorized to transfer to the housing trust

fund corporation funds otherwise appropriated or reappropriated for the

purposes of the special needs housing act of 1988 to the division of

housing and community renewal for the fiscal year beginning on April

first, nineteen hundred ninety, in an amount or amounts the director of

the budget determines as necessary.