2023 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.