2023 New York Laws › PVH - Private Housing Finance › Article 17 - Housing and Community Preservation in Rural Areas › 1004 - Payments Pursuant to Contracts.

§  1004. Payments pursuant to contracts. 1. Each contract entered into
pursuant to this article shall provide for payment  to  the  corporation
for  the  housing  preservation  and  community renewal activities to be
performed by it.
2. Payments pursuant to this  section  shall  be  restricted  to  sums
required  for  the  compensation of persons employed by, and consultants
retained by, the corporation  for  the  performance  of  the  activities
covered by the contract and other costs and expenses directly related to
such employees and consultants.
3.  No part of any such payment shall be used to defray in whole or in
part the cost of acquisition, improvement, rehabilitation, operation  or
demolition  of any building or other structure, but this provision shall
not prohibit the use of such funds for planning any such activity or for
the  expenses  of  providing  office  and  related  facilities  for  the
corporation  for  use  in  carrying  out  its activities pursuant to the
contract. Payments shall be made by the division to the  corporation  at
such  periods,  not  less  frequently  than  semi-annually,  as shall be
provided in the contract. Such payments shall be made at or prior to the
commencement of each such time period, to compensate the corporation for
the activities which are to be  carried  out  during  such  time  period
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 corporation 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  one
thousand 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 corporation from any and all sources which may be used
to defray the costs of the housing preservation  and  community  renewal
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 corporation from
such other sources, together with the value of services to  be  rendered
for  the benefit of the corporation for which payment is not required to
be made by  such  corporation,  amount  to  at  least  thirty-three  and
one-third percent of the amount of such contract.
5.   When   disbursing   funds   for   contracts  with  not-for-profit
corporations, pursuant to section one thousand 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 corporation funding shall equal the current
number of unmerged corporation contracts multiplied  by  the  per  group
award.
(ii) The unmerged corporation funding shall equal the per group award.
(iii)   The   merged  corporation  funding  shall  equal  the  funding
modification multiplied by the per group award.
(b) Merged corporation funding shall be determined  on  an  individual
basis for each not-for-profit corporation. The following tables show the
funding modification to be used:
(i)  In  the  case  of  two  not-for-profit  corporations 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 not-for-profit corporations 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 not-for-profit corporations 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  not-for-profit  corporation  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  corporation  savings  shall  be  determined  on  an
individual basis for each merged corporation. It shall be calculated  by
subtracting  the amount of such corporation's merged corporation funding
from the amount the merged corporations 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 rural preservation coalition  which
shall  equal  the  total  unmerged  company  funding plus the sum of the
merged company funding.