NY Priv Hous Fin L § 904 (2021)
2021 New York Laws PVH - Private Housing Finance Article 16 - Neighborhood Preservation Companies 904 - Payments to Neighborhood Preservation Companies for Neighborhood Preservation Activities.

§   904.   Payments   to   neighborhood   preservation  companies  for neighborhood preservation activities. 1. Each contract entered into with a neighborhood preservation company shall provide  for  payment  to  the neighborhood   preservation   company   for   neighborhood  preservation activities to be performed by it.   2. Payment to neighborhood preservation  companies  pursuant  to  this article shall be restricted to sums required for the payment of salaries and  wages  to  employees of such companies who are engaged in rendering neighborhood  preservation   activities,   fees   to   consultants   and professionals   retained  by  them  for  planning  and  performing  such activities and  other  costs  and  expenses  directly  related  to  such employees, consultants and professionals.   3.  In  no  event shall any contract or payment be made, nor shall any payments be used, to defray  the  costs  of  the  construction,  repair, renovation,  rehabilitation, operation, demolition, clearance or sealing of any building or other structure, except that such funds may  be  used for   planning   any   such  activity  and  for  renovating,  repairing, furnishing, equipping and operating an office facility  to  be  used  in connection  with  the conduct of neighborhood preservation activities by the neighborhood preservation company. Payments shall  be  made  by  the division  to  the neighborhood preservation company, not less frequently than semi-annually, at or prior to the commencement of  each  such  time period,  to  compensate  such  company for the neighborhood preservation activities which it shall  undertake  to  perform  provided,  that  with respect  to  contracts entered into on or after June thirtieth, nineteen hundred ninety-seven the  first  such  payment  shall  be  made  by  the division  beginning  on or after July first of the fiscal year for which an appropriation in support  of  such  payment  was  made  and  provided further  that  the  final  such payment to the neighborhood preservation company shall be made no later than March thirty-first  of  such  fiscal year,  unless  such  payment  has  been withheld pursuant to subdivision eight of section nine hundred three of this article.   4. In negotiating each contract, the division shall consider and  take into  account any and all other sums available or anticipated to be made available to the neighborhood preservation  company  from  any  and  all sources  which  may  be  used  to  defray  the costs of the neighborhood preservation activities set forth in the  contract,  including,  without limitation,  fees generated by the management of housing accommodations, contributions  from  private  foundations,   corporations,   firms   and individuals  and  funds  received under grants and contracts pursuant to any program or programs operated or  administered  by  any  governmental agency  or  instrumentality and shall make a determination that the sums available or anticipated to  be  made  available  for  the  neighborhood preservation company from such other sources, together with the value of services to be rendered for the benefit of the neighborhood preservation company  for  which  payment is not required to be made by such company, amount to at least thirty-three and one-third percent of the  amount  of such contract.   5.  When disbursing funds for contracts with neighborhood preservation companies, pursuant to section nine hundred three of this  article,  the division  shall  use  the  following  criteria,  formulas  and tables to determine the distribution of funds:  (a)(i) The total unmerged company  funding  shall  equal  the  current number of unmerged company contracts multiplied by the per group award.  (ii) The unmerged company funding shall equal the per group award.  (iii)  The merged company funding shall equal the funding modification multiplied by the per group award.  (b) Merged company funding shall be determined on an individual  basis for  each  neighborhood  preservation company. The following tables show the funding modification to be used:  (i) In the case of two companies merging, the following table shall be used:           Years since    Funding           merger         modification             1              200%             2              190%             3              180%             4              170%             5              160%             6              150%  (ii) In the case of three companies merging, the following table shall be used:           Years since    Funding           merger         modification             1              300%             2              290%             3              280%             4              270%             5              260%             6              250%             7              240%             8              230%             9              220%             10             210%             11             200%  (iii)  In  the  case  of four or more companies merging, the following table shall be used:           Years since      Funding             merger       modification               1              400%               2              390%               3              380%               4              370%               5              360%               6              350%               7              340%               8              330%               9              320%              10              310%              11              300%              12              290%              13              280%              14              270%              15              260%              16              250%  (c) If a neighborhood preservation company that has undergone a merger continues to renew their contract beyond the timeframes  listed  in  the above  tables,  it  shall  have  its  funding  determined using the last funding modification listed.  (d) The merged company savings shall be determined  on  an  individual basis for each merged company. It shall be calculated by subtracting the amount  of  such  company's  merged  company funding from the amount the merged companies would have received if  they  had  maintained  separate contracts.  (e)  The per group award shall equal the total funding available minus the  amount  for  the  contract  with  the   neighborhood   preservation coalition, which shall equal the total unmerged company funding plus the sum  of  the  merged  company funding plus the sum of the merged company savings.