NY Priv Hous Fin L § 922 (2021)
2021 New York Laws PVH - Private Housing Finance Article 16-A - Urban Initiatives 922 - Urban Initiative Contracts.

§  922.  Urban  initiative  contracts.  1.  Within  the limit of funds   available in the urban initiative program,  the  corporation  is  hereby   authorized  to  enter into contracts with eligible applicants to provide   state financial assistance for the project costs attributable  to  urban   initiatives   projects   within   neighborhoods.   The  state  financial   assistance shall be either in the form of payments, grants or loans,  as   the corporation shall determine. No more than fifty percent of the total   amount appropriated pursuant to this article in any fiscal year shall be   allocated  to  urban  initiatives  projects  located  within  any single   municipality.2. The total state payment pursuant to  any  one  contract  shall  not   exceed  two  hundred thousand dollars and the contract shall provide for   completion of the project  within  a  reasonable  period,  as  specified   therein  which  shall  not  in  any  event  exceed  two  years  from its   commencement. Up to ten percent of the project cost may be used for  the   eligible  applicant's  operating  expenses including expenses related to   organization operating support and administration of the contract.3. The corporation shall require  that,  in  order  to  receive  funds   pursuant  to  this  article,  the  eligible  applicant  must  submit  an   operating plan which  shall  include  but  not  be  limited  to  project   feasibility,  leveraging, impact on the community, group capability, and   affirmative action and minority business participation. Such plan  shall   be  submitted  pursuant  to  a  request  for  proposals  issued  by  the   corporation.4.  The  eligible  applicant  which  proposes  to  contract  with  the   corporation   shall   be   a  bona  fide  organization  or  a  successor   organization with appropriate  experience  in  community  revitalization   activities  and  shall  demonstrate  by  its  immediate past and current   activities that it has, or shows that it can acquire, the capability and   expertise to successfully complete the proposed  project.  The  eligible   applicant's  officers,  directors  and members must be representative of   the residents and other legitimate interests of the neighborhood.5. Occupant selection procedures shall be  established  which  provide   that  any lawful occupants who live in a project prior to rehabilitation   shall not be displaced as a result of such  rehabilitation,  other  than   temporarily,  in  which  case  suitable relocation arrangements shall be   provided, and that any additional occupants who move into a project  are   persons  of  low  income.  Preference  in  selection  of such additional   occupants (i) shall be given to persons  or  families  with  the  lowest   incomes possible, given the income requirements of the project; and (ii)   shall  also  be given to persons or families whose current housing fails   to meet basic standards  of  health  and  safety  and  who  have  little   prospect  of improving the condition of their housing except by residing   in a project receiving payments, grants or loans under this article.6. For any application for such a contract  under  this  article,  the   corporation  shall  provide the applicant 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  corporation of all   documents in satisfaction of the list, the corporation shall notify  the   applicant  of  the  sufficiency or insufficiency of the documents. After   satisfaction  by  the  applicant  of  all  conditions  required  by  the   corporation  prior  to  entering  into  a contract the corporation shall   enter into the contract within forty-five working days  of  satisfaction   of such conditions.