NY Priv Hous Fin L § 1172 (2021)
2021 New York Laws PVH - Private Housing Finance Article 24 - National Affordable Housing Act Program 1172 - The New York State Home Program.

§  1172.  The  New York state HOME program.  1. Agreements. (a) Within the limit of HOME program funds, the division is  hereby  authorized  to take  administrative  actions  necessary to comply with HUD requirements and consistent with the provisions of this article  in  order  to  enter into  agreements  with applicants to provide grants and loans which such applicants shall  use  to  finance  projects  that  qualify  under  HOME regulations as eligible activities.  (b)  The division shall not enter into an agreement under this article except with an eligible applicant which  has  submitted  an  application pursuant  to  a  notification  of  fund  availability  and a request for proposals issued by the division.  (c) The division and the applicant  shall  execute  a  grant  or  loan agreement which shall set forth the terms and conditions under which the grant or loan will be provided.   2.  Notice  of fund availability. The division shall issue its initial notice of fund availability and request for proposals within  forty-five working  days  of the effective date of this article. No more than sixty percent of the HOME funds shall be available  for  reservation  in  such initial  funding  cycle. No later than sixteen months from the effective date of this article, the division shall  issue  a  second  request  for proposals  and  make  available  those  funds  not  committed during the initial  request  for  proposals,  including  funds  recaptured  by   or otherwise made available to the division by the federal government under the  HOME  program. Additional requests for proposals shall be issued at the discretion of the division but in any event no later than sixty days following the availability of additional federal funds.   3. Application procedures.  (a) Documentation determining eligibility. The division shall provide each applicant with a list of documents  that must  be  included  in  the  application  before  the application can be entered into the competitive process for  the  awarding  of  grants  and loans.  The  division  shall  also include with such list of documents a detailed description of the review  and  selection  procedures  criteria utilized  by the division pursuant to paragraph (b) of this subdivision. Within ten working days after the last day for receipt of  applications, the  division  shall  notify  applicants  if  and how the application is incomplete and provide ten working days to  complete  such  application. Documentation  requirements shall include but not necessarily be limited to: (1) a feasibility study and market analysis of the proposal;  (2)  a proposed  project  financing  and  leveraging plan; (3) a schedule, with specific dates, of the  expected  project  commencement  date,  expected completion  date,  and  if  appropriate,  the  anticipated  schedule for closing and occupancy of units; (4) a  description  of  the  applicant's qualifications and previous experience; (5) a statement by the applicant as  to  the  status  of  all public approvals and clearances required to undertake the project; (6) a plan  as  to  how  applicants  will  ensure compliance  with  all  federally  mandated  regulations  throughout  the regulatory term; (7) a statement describing the amount of and source  of any  matching  contributions  required  for  the proposed project and an opinion  of  counsel  that  funds  proposed  to  be  used  as   matching contributions  are  legally  available to be used as proposed; and (8) a statement of need and how the  project  will  further  goals  delineated within the state CHAS.  (b) The review and selection procedure. Within forty-five working days of  the  effective  date  of  this  article, the division shall develop, consistent with federal law and  regulations,  a  review  procedure  and selection  criteria  for  evaluating  applications,  which shall include design, underwriting, legal and program requirements. Such procedure and selection criteria shall be provided to applicants with the application.  Such selection  criteria  shall  include  but  not  be  limited  to  the following  factors:  (1)  the  extent to which the proposal will serve a demonstrated need; (2)  the  degree  to  which  the  proposal  leverages private  investment  or  other  funding  sources;  (3) the likelihood of successful project completion, including consideration of the  submitted market  analysis,  the  prior  experience  of  the  applicant,  and  the viability  of  the  submitted  completion  schedule;  and  (4)  type  of assistance requested.   4.  Selection  for  award  and notification requirements. The division shall base the awarding of grants and loans subject to the  availability of  funds  upon the competitive review and selection procedure described in paragraph (b) of subdivision three of  this  section.  Within  eighty working  days  following  the  last  day  for receipt of applications in response to a request for  proposals,  the  division  shall  notify  all applicants of its funding decisions.  (a)  The division will notify, in writing, all applicants who were not selected for funding of the reasons why the  proposal  was  not  funded, including  the  design,  underwriting,  legal  or  program deficiencies, deficiencies  of  any  documents  and/or  the  basis  upon   which   the application  was  determined  to  be  ineligible  for funding. Until the issuance of a subsequent notice of  fund  availability,  applicants  not selected for funding due solely to the non-availability of federal funds under  the  notice  of  fund  availability  shall  remain  eligible  for selection for funding under such notice  of  fund  availability  in  the event that unused federal funds become available for reallocation.  (b)  The  division  shall  provide each applicant selected for funding 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 division of all documents in satisfaction  of  the  list, the   division   shall  notify  the  applicant  of  the  sufficiency  or insufficiency of the documents. After satisfaction by the  applicant  of all  conditions  required  by  the  division  prior  to  entering into a contract, the division shall enter into the contract  within  forty-five working  days of satisfaction of such conditions. Applications which are not selected for funding  must  be  resubmitted  by  the  applicant  for consideration under subsequent notices of funding availability.   5.  Distribution  of  funds.  Eighty  percent  of  the funds available hereunder after deducting the set asides mandated by NAHA for  community housing  development  organizations,  shall  be  reserved  for  projects located within non-participating jurisdictions, provided  however,  that such  reservation  may  be  less  than eighty percent where, following a notice of funding availability and request for proposals,  the  division has  made  a  written  finding  that  (i) applications, except those not selected for funding pursuant to subdivision four of this  section,  for projects in non-participating jurisdictions will not totally utilize the remaining  available  reserved  funds and (ii) such funds are subject to recapture by HUD pursuant to federal HOME regulations within one hundred eighty days.   6. Monitoring and review. The division shall provide for  the  review, at  periodic  intervals  not  less  than annually, of the performance of applicants receiving grants or loans  pursuant  to  this  article.  Such review  shall,  among  other things, be for the purposes of ascertaining the conformity to agreement provisions, and adherence  to  federal  HOME regulations.    Agreements  entered into pursuant to this article may be terminated and funds may be withheld or recaptured by the division  upon a  finding  of  substantial  nonperformance  or breach by such applicant under  its  agreement  or  for  failure  to  adhere  to   federal   NAHA requirements.    7.  Notwithstanding  any  contrary provision of law, on and after June thirtieth, nineteen hundred ninety-five, the division  shall  not  issue notices  of fund availability, accept applications or enter into any new agreements pursuant to the provisions of this section.