N.Y.
Private Housing Finance Law Section 1123
General and administrative provisions
1.
The agency may 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 agency shall deem necessary, proper and appropriate.2.
The agency may provide technical services and assistance or contract to provide technical services and assistance to eligible applicants to comply with the provisions and intent of this article which services and assistance may include but shall not necessarily be limited to site selection, financial packaging and engineering and architectural services necessary for the preparation of proposals for entering into contracts or for the continued operation of a manufactured home cooperative or for infrastructure improvement projects.3.
The agency and applicants shall deposit any recaptured funds or funds from the repayment of loans and interest received on loans into the manufactured home cooperative fund.4.
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.5.
The agency shall require the 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.
Source:
Section 1123 — General and administrative provisions, https://www.nysenate.gov/legislation/laws/PVH/1123 (updated Sep. 22, 2014; accessed Apr. 20, 2024).
