reglab/statecodes huggingface dataset:
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter A - Public Access To Records › Part 2150 - Public Access To Records › Section 2150.6 - Subject matter list

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The records
				  access officer shall maintain a reasonably detailed current list, by subject
				  matter, of all records in its possession, whether or not records are available
				  pursuant to subdivision 2 of section
				  87 of the
				  Public Officers Law.
(b) The
				  subject matter list shall be sufficiently detailed to permit identification of
				  the category of the record sought.
(c) The subject matter list shall be updated
				  not less than twice per year. The most recent update shall appear on the first
				  page of the subject matter list.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter A - Public Access To Records › Part 2150 - Public Access To Records › Section 2150.7 - Denial of access to records

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				  Denial of access to records shall be in writing, stating the reason therefor
				  and advising the requester of the right to appeal to the individual or body
				  established to hear appeals.
(b) If
				  requested records are not provided promptly, as required in section
				  2150.5(d) of this
				  Part, such failure shall also be deemed a denial of access.
(c) The following person or persons or body
				  shall hear appeals for denial of access to records under the Freedom of
				  Information Law:
Counsel, New York State Housing Finance Agency
3 Park Avenue
33rd Floor
New York, NY 10016
(212) 736-4949
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter A - Public Access To Records › Part 2150 - Public Access To Records › Section 2150.8 - Fees

Current through Register Vol. 46, No. 28, July 10, 2024
(a) There shall be
				  no fee charged for:
(1) inspection of
				  records;
(2) search for records;
				  or
(3) any certification pursuant
				  to this Part.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter A - Public Access To Records › Part 2150 - Public Access To Records › Section 2150.9 - Public notice

Current through Register Vol. 46, No. 28, July 10, 2024
A notice containing the title or name and business address
					 of the records access officers and appeals person or body, and the location
					 where records can be seen or copied, shall be posted in a conspicuous location
					 wherever records are kept and/or published in a local newspaper of general
					 circulation.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter A - Public Access To Records › Part 2150 - Public Access To Records › Section 2150.10 - Severability

Current through Register Vol. 46, No. 28, July 10, 2024
If any provision of this Part or the application thereof to
					 any person or circumstance is adjudged invalid by a court of competent
					 jurisdiction, such judgment shall not affect or impair the validity of the
					 other provisions of this Part or the application thereof to other persons and
					 circumstances.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2160 - General Provisions › Section 2160.1 - Overview and applicability

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				  These rules and regulations are being promulgated by the New York State
				  Affordable Housing Corporation (the "corporation") pursuant to section
				  1113
				  (1) of the Private Housing Finance Law. The
				  corporation, a subsidiary of the New York State Housing Finance Agency, was
				  created to operate the Affordable Home Ownership Development Program (Private
				  Housing Finance Law, §1110 et seq., hereinafter the "act").
(b) The purpose of the program is to promote
				  home ownership by persons of low and moderate income, which, in turn, promotes
				  development, stabilization and preservation of neighborhoods and communities.
				  To achieve these goals, the corporation will provide financial assistance, in
				  conjunction with other private and public investment, for the acquisition,
				  construction, rehabilitation and improvement of owner-occupied housing. By
				  reducing development and rehabilitation costs, assistance provided under the
				  act is expected to make home ownership affordable to families and individuals
				  for whom there are no other reasonable and affordable home ownership
				  alternatives in the private market. Additionally, the development and
				  rehabilitation activities undertaken in connection with this program are
				  expected to help eliminate conditions of slums and blight and to create jobs
				  and stability in communities throughout the State.
(c) The financial assistance provided by the
				  corporation will be in the form of grants. The grantees may make these funds
				  available to recipients in the form of payments, grants and loans. Such loans
				  may, but need not, be in the form of participation in loans originated or
				  financed by lending institutions as defined under section
				  42
				  of the Private Housing Finance Law, employee pension funds, or the State of New
				  York Mortgage Agency. The grantees shall determine the terms and conditions for
				  such payments, grants or loans.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2161 - Eligibility › Section 2161.1 - Eligible areas

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Project(s)
				  and program proposals must be targeted to eligible areas as defined under these
				  regulations. An eligible area may have an existing designation or must meet the
				  criteria which establish an area as an eligible area, as determined by the
				  corporation.
(b) An eligible area
				  is one that is blighted, deteriorated or deteriorating, or has a blighting
				  influence on the surrounding area or is in danger of becoming a slum or a
				  blighted area because of the existence of substandard, insanitary,
				  deteriorating or deteriorated conditions, an aged housing stock, or vacant
				  nonresidential property, or other factors indicating an inability or
				  unwillingness of the private sector, unaided, to invest in homes for the
				  area.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2161 - Eligibility › Section 2161.2 - Designated eligible areas

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				  Designated eligible areas are, for the purposes of these regulations, areas
				  which are designated pursuant to any Federal, State or local law, rule or
				  regulation as blighted, deteriorated or deteriorating or as having a blighting
				  influence on the surrounding area or as being in danger of becoming a slum or
				  blighted area. Among the designations that will meet the criteria set forth in
				  this section are the following:
(1) areas
				  which are designated under articles 15 and 16 of the General Municipal
				  Law;
(2) areas which are designated
				  by the Secretary of Housing and Urban Development as areas where concentrated
				  housing, physical development, and public service activities are being or will
				  be carried out in a coordinated manner, pursuant to a locally developed
				  strategy for neighborhood improvement, conservation or preservation;
(3) census tracts in which at least 70
				  percent of the families have an income which is 80 percent or less of the
				  statewide median family income;
(4)
				  areas of chronic economic distress as designated by the State and as approved
				  by the Secretary of the Treasury and the Secretary of Housing and Urban
				  Development;
(5) neighborhoods in
				  which neighborhood preservation activities are being carried out pursuant to
				  article 16 of the Private Housing Finance Law; and
(6) rural preservation and revitalization
				  regions subject to the provisions of articles 17, 17-A and 17-B of the Private
				  Housing Finance Law.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2161 - Eligibility › Section 2161.3 - Eligible property

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The
				  amount of land appurtenant to each home to be assisted under the act will not
				  be in excess of the amount required to maintain the basic livability of the
				  home. In areas where local zoning applies, the maximum amount of land allowed
				  for each home is one house lot which cannot be subdivided into another
				  buildable lot under such local zoning provisions. In rural areas where there is
				  no applicable zoning, the maximum amount of land will be determined by the
				  corporation on a case-by-case basis in light of common standards for
				  single-family housing in the area.
(b) Each home to be assisted under the act
				  will consist of no more than one building, except that separate garage
				  structures for dwelling units will not violate this provision. In the case of
				  the assistance of homes involving two to four dwelling units, at least one wall
				  of each unit will be contiguous with a wall or walls of one or more of the
				  other units.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2161 - Eligibility › Section 2161.4 - Conflicts of interest

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The
				  officers, directors and employees of each grantee should pursue a course of
				  conduct which will not raise the appearance of any impropriety or conflict of
				  interest with respect to any funds awarded by the corporation.
(b) No person who is a member of the
				  governing body of the eligible applicant, an officer, or an employee or the
				  immediate family member of such a person, or any person or business entity
				  having a direct or indirect financial relationship with such a person, will be
				  eligible to participate in or benefit financially from the eligible applicant's
				  project(s) or program, except that, in the case of a municipality, this
				  provision with respect to employees applies only to employees of the
				  departments or agencies directly involved in the municipality's project(s) or
				  program.
(c) No individual who is
				  an elected official at the State or local level, a paid staff person to such an
				  official, a leader or chairman of a political party at any jurisdictional
				  level, or an immediate family member of any such person, will be eligible to
				  participate or benefit financially from the eligible applicant's project(s) or
				  program.
(d) Upon a written
				  showing, by an eligible applicant or a grantee, of good cause such that thereby
				  any appearance of an impropriety or of a conflict of interest is dispelled, the
				  corporation may in its discretion, grant a waiver of the prohibitions contained
				  in subdivisions (b) and (c) of this section, provided that the prohibited
				  participation or benefit is not otherwise illegal. In the event the corporation
				  grants such a waiver, the facts and circumstances surrounding such
				  participation or benefits shall be fully disclosed in the eligible applicant's
				  proposal or contract and to such other persons or entities as the corporation
				  may require.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2162 - Grants › Section 2162.1 - Grant limits

Current through Register Vol. 46, No. 28, July 10, 2024
(a) 60 percent
				  of the project cost, or when such rehabilitation project does not involve an
				  acquisition component, 100 percent of the project cost; or
(b) the following per dwelling unit
				  limitations:
(1) $50,000 for projects except
				  as provided hereinafter; or
(2)
				  $75,000 for a high cost project or a project which will receive a loan from the
				  Federal Farmers Home Administration.
No more than 50 percent of the appropriated funds shall be
					 allocated to homes within a single municipality in any fiscal year. A project
					 may be deemed to be a high cost project if the project is located within a high
					 cost area, or it is demonstrated to the satisfaction of the corporation that
					 the additional subsidy of as much as $25,000 per dwelling unit available to
					 high cost projects would make housing in such project affordable to households
					 with incomes at or below 80 percent of the applicable area median
					 income.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2162 - Grants › Section 2162.2 - Eligible costs

Current through Register Vol. 46, No. 28, July 10, 2024
Grant funds may be used only for the construction,
					 rehabilitation or improvement of one- to four-family dwellings, including
					 cooperatives and condominiums, which are or will be owner-occupied. Grant funds
					 may be used for the acquisition of property only as part of projects and
					 programs for the construction or rehabilitation of homes. Grant funds that do
					 not exceed ten percent of the Total Development Cost may be used for
					 administrative or operating expenses, including expenses related to the
					 organization, operating support and administration of the
					 project.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2162 - Grants › Section 2162.3 - Ineligible costs

Current through Register Vol. 46, No. 28, July 10, 2024
Grant funds exceeding ten percent of the Total Development
					 Cost of the project may not be applied to administrative costs incurred by an
					 eligible applicant or grantee, nor to any other costs which are not directly
					 related to the construction, rehabilitation or improvement of homes. In the
					 event that homes are to be located in a mixed-use structure, then any costs
					 associated with the nonresidential uses are ineligible costs.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2162 - Grants › Section 2162.4 - Permissible forms of financial assistance

Current through Register Vol. 46, No. 28, July 10, 2024
The corporation is authorized to provide grants to selected
					 eligible applicants. Grantees may allocate funds in the form of grants, loans
					 or payments.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2164 - Applications › Section 2164.1 - Application requirements

Current through Register Vol. 46, No. 28, July 10, 2024
Applications to the corporation for grants under the act
					 must include the provisions outlined in this Part.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2164 - Applications › Section 2164.2 - Application information

Current through Register Vol. 46, No. 28, July 10, 2024
(a) An
				  application form, signed by an authorized officer of the eligible applicant,
				  including the name, address and telephone number of applicant and the name of
				  applicant's chief executive officer or other official to whom inquiries should
				  be addressed. In the event that a municipality has designated another eligible
				  applicant to submit an application on its behalf, then supply the name, address
				  and telephone number of such entity, the name of the chief executive officer,
				  and a certified copy of the resolution designating such entity.
(b) A statement indicating whether the
				  applicant has or will submit an application to the Housing Trust Fund
				  Corporation for assistance under the Low Income Housing Trust Fund Program
				  (Private Housing Finance Law, §1100 et seq.) and the amount requested in
				  any such application.
(c) A history
				  of all acceptances or rejections of proposals under either the Affordable Home
				  Ownership Development Program or the Low Income Housing Trust Fund
				  Program.
(d) A certified copy of
				  the resolution of the governing body of the eligible applicant authorizing the
				  submission of an application for assistance under the act.
(e) A certified copy of the certificate of
				  incorporation of all eligible applicants other than municipalities.
(f) A copy of the audited financial
				  statements relating to the past three years, prepared by an independent
				  certified public accountant, of all eligible applicants other than
				  municipalities.
(g) A statement
				  describing:
(1) the interest, if any, whether
				  direct or indirect, in any of the transactions contemplated by the proposal of
				  any member of the governing body of the eligible applicant, its officers or its
				  employees and their immediate family members; and
(2) the disclosure provided or to be provided
				  to participating parties by the eligible applicant concerning such
				  interest.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2164 - Applications › Section 2164.3 - Statement of need

Current through Register Vol. 46, No. 28, July 10, 2024
The application must include a description of the problem
					 to be addressed which will include:
(a) Evidence of the designation, if any,
				  pursuant to any Federal, State or local law, rules or regulations or pursuant
				  to any action by a municipality of the project or program area as blighted,
				  deteriorated or deteriorating or as having a blighting influence on the
				  surrounding area or as being in danger of becoming a slum or blighted
				  area.
(b) A description of project
				  or program area demographics, including levels of income of the residents and
				  problems in achieving affordable home ownership.
(c) A description of the housing stock in the
				  project area, its age and condition, vacant buildings (both residential and
				  nonresidential), vacant or underutilized land, and other information relevant
				  to the project or program.
(d) A
				  description of the services available to the project area (i.e., shopping,
				  schools, health care, public transportation, etc.).
(e) Data on the extent of public or private
				  investment in housing and other community development activities within the
				  project or program area, including evidence as to whether or not the requested
				  assistance is necessary to protect earlier or ongoing public investment in the
				  area.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2164 - Applications › Section 2164.4 - Narrative overview of proposed project(s) or program

Current through Register Vol. 46, No. 28, July 10, 2024
A general description of the proposal, including but not
					 limited to the following:
(a) a
				  description of the proposed method of providing the housing (i.e., new
				  construction, rehabilitation or home improvement);
(b) the number of units to be provided or
				  improved;
(c) the targeted economic
				  population to be served, including any households for whom rental units will be
				  made available in two- to four-unit structures;
(d) a description of the financing plan,
				  including the amount of grant funds requested;
(e) the anticipated implementation and
				  completion dates of the proposal; and
(f) a description of the qualifications and
				  experience of the applicant, builders, developers, contractors, major
				  subcontractors and consultants.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2164 - Applications › Section 2164.5 - Methodology proposed to meet the need

Current through Register Vol. 46, No. 28, July 10, 2024
(a) A feasibility study and market analysis
				  of the proposal, including but not limited to:
(1) estimated total development costs,
				  including but not limited to direct and indirect construction costs, land
				  costs, builders' or developers' profits, and legal, architectural and
				  inspection fees, as applicable;
(2)
				  the anticipated sales price, if applicable, and carrying costs of the homes to
				  the homeowner; and
(3) the income
				  levels to be targeted and the gap between such income levels and the income
				  required to carry a home through conventional financing without any
				  governmental assistance.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2164 - Applications › Section 2164.6 - Proposed project(s) or program financing and leveraging plan

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Identification
				  of all private investments and/or commitments and all other public assistance
				  that will be necessary and available to make the project possible, including
				  amounts and uses of each.
(b) The
				  amount of payments, grants or loans necessary to make the project
				  feasible.
(c) The leveraging ratio
				  resulting from the combination of available funds.
(d) In the event that the assistance to be
				  provided by the eligible applicant to the recipient(s) is in the form of a
				  loan, the term, rate of interest and conditions for repayment of the
				  loan.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2164 - Applications › Section 2164.7 - Project(s) or program schedule

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				  Expected project or program construction commencement date.
(b) Phasing of outreach and marketing
				  operations.
(c) Expected completion
				  date.
(d) For new construction and
				  rehabilitation projects, anticipated schedule for closing and occupancy of
				  units.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2164 - Applications › Section 2164.8 - Qualifications of participants

Current through Register Vol. 46, No. 28, July 10, 2024
(a) A
				  description of the applicant's qualifications and previous experience, if any,
				  to perform the role of grantee under this program.
(b) The qualifications and experience of all
				  other program participants, such as developers, builders, contractors,
				  etc.
(c) A copy of the most recent
				  audited financial statement prepared by an independent certified public
				  accountant, or such other documentation as the corporation may approve, of all
				  participants other than municipalities, Federal, State and local governmental
				  agencies and lending institutions as defined in section
				  2160.2(i) of this
				  Title who will be providing funds for the project(s) or program.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2164 - Applications › Section 2164.9 - The administration and disbursement plan of the eligible applicant

Current through Register Vol. 46, No. 28, July 10, 2024
The administration and disbursement plan of the eligible
					 applicant.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2164 - Applications › Section 2164.10 - Required certifications and supporting documents

Current through Register Vol. 46, No. 28, July 10, 2024
(a) In the event that a municipality has
				  selected a designee to submit a proposal on its behalf, then a statement from
				  such municipality that it concurs with the proposed project or
				  program.
(b) A statement by the
				  eligible applicant as to the status of all public approvals and clearances
				  required to undertake and construct the project, including review under the
				  State Environmental Quality Review Act (SEQRA) and the State Historic
				  Preservation Act (SHPA) and an estimated timetable for obtaining all approvals
				  not yet obtained.
(c) A commitment
				  by all profitmaking participants (including developers, contractors,
				  consultants, etc.) to guarantee the estimated costs for a specified time period
				  and to accept the corporation's established limit on profits.
(d) Evidence of developers', contractors',
				  etc. ability to secure binding 100- percent payment and performance bonds or
				  other methodologies to assure full payment and timely completion.
(e) Evidence of site control (options,
				  contracts of sale, deeds, or public commitment to make site available,
				  contingent only upon the award of assistance under the act) and an independent
				  appraisal of the value of the site(s) if the total development cost of the
				  project(s) or program includes any costs of acquisition of the site(s) or the
				  value of the site provided to the project(s) or program.
(f) All commitments, satisfactory to the
				  corporation, for the financing of the project(s) or program in an amount
				  sufficient to complete the construction of the project. All such commitments
				  will be contingent only upon the award by a grantee of a contract or commitment
				  for payments, grants or loans to be made under the act, except that conditions
				  normally included in such commitments and which, in the sole opinion of the
				  corporation, are acceptable, will be deemed to satisfy the requirements of this
				  section.
(g) Evidence of the
				  commitment for other types of public assistance in the form of land donation,
				  tax exemption/tax abatement, infrastructure development, etc.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2165 - Evaluation Of Proposals › Section 2165.1 - Selection factors

Current through Register Vol. 46, No. 28, July 10, 2024
(a) A proposal
				  may provide for the construction, rehabilitation or improvement of several
				  structures or single structure(s) at several locations, including cooperatives
				  and condominiums, based on the applicant's demonstration of need and how the
				  proposed treatment will meet that need.
(b) The corporation will evaluate
				  applications based on the following criteria which may be implemented through
				  the application of program standards, revised from time-to-time, which will
				  effect the requirements hereof, based on the corporation's estimation and
				  projection of the pool of applications which will be received while funds are
				  available:
(1) extent to which the proposal
				  will serve a demonstrated need;
(2)
				  extent to which the proposal will serve the lowest income households possible
				  in the applicable area and the measures designed to assure continued
				  affordability;
(3) leveraging of
				  private and public investment (special weight will be given to applications
				  maximizing private investment);
(4)
				  contribution of the proposal to the improvement of the neighborhood or
				  community;
(5) nondisplacement of
				  low and moderate income residents of the neighborhood and community;
(6) timely project commencement and
				  completion;
(7) utilization of
				  innovative, cost-effective design techniques and building materials which
				  reduce construction, rehabilitation or operating costs;
(8) comprehensiveness of administrative plan
				  and evidence of applicant's capacity to effectively implement and manage the
				  project(s) or program; and
(9)
				  extent to which applicant has a record of successful past performance in the
				  program and other similar activities.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2166 - Grant Award › Section 2166.1 - Preliminary funding approval

Current through Register Vol. 46, No. 28, July 10, 2024
After responses to the request for proposals are received,
					 the corporation will, on an ongoing basis, select the proposals which, within
					 the available funds, best meet the selection criteria set forth in section
					 2165.1 of this Title, and will, on
					 an ongoing basis, announce the names and the amounts of the grants to be
					 awarded to the selected eligible applicants after each meeting of the members
					 of the corporation at which any such awards are made.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2166 - Grant Award › Section 2166.2 - Grant agreement

Current through Register Vol. 46, No. 28, July 10, 2024
Thereafter, the corporation and the applicant will sign a
					 grant agreement incorporating the regulations contained herein and specifying
					 the terms and conditions under which the grant will be provided. Among other
					 matters, the grant agreement will provide for a reduction of the grant if
					 project costs or expenses are reduced and conditions of financing are altered
					 and such other restrictions as the corporation may deem
					 appropriate.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2166 - Grant Award › Section 2166.3 - Execution of grant agreement

Current through Register Vol. 46, No. 28, July 10, 2024
Prior to execution of the grant agreement, the grantee must
					 submit for approval copies of any mortgages or other security instruments
					 securing repayment of the public and/or private financing and of any mortgages
					 or other security instruments securing repayment of the grant in the event the
					 owner breaches his/her obligations and such other contracts as are necessary to
					 implement the program. All such commitments and contracts shall be conditional
					 only upon the award of a grant, except that conditions normally included in
					 such commitments and contracts and which, in the sole opinion of the
					 corporation, are acceptable, will be deemed to satisfy the requirements of this
					 section.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2167 - Drawdown Of Funds › Section 2167.1 - Disbursement of funds

Current through Register Vol. 46, No. 28, July 10, 2024
The method of disbursement of funds by the corporation,
					 whether on an advance basis or a periodic schedule, will be determined as
					 appropriate in accordance with the grantee's approved plan for making funds
					 available for a project(s) or program and will be incorporated in the grant
					 agreement.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2167 - Drawdown Of Funds › Section 2167.2 - Fidelity bonds

Current through Register Vol. 46, No. 28, July 10, 2024
If the corporation so requires, fidelity bonds, covering
					 the employees of the grantee who will handle the funds to be received under the
					 act, will be required.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2168 - Program Income › Section 2168.1 - Program income

Current through Register Vol. 46, No. 28, July 10, 2024
Any program income resulting from the Affordable Home
					 Ownership Development Program grants to the grantee will be returned to the
					 corporation. These funds may be derived from such sources as payments of
					 principal and interest on loans made by grantees, proceeds payable to the
					 grantee from the disposition of real property, investment income on grant funds
					 prior to disbursement by the grantee and recapture of funds from an owner who
					 fails to comply with his/her obligations.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2169 - Audit And Monitoring › Section 2169.1 - Access to records

Current through Register Vol. 46, No. 28, July 10, 2024
The corporation or its designated agent will have access to
					 all books, accounts, records, reports, files and other papers or property of
					 grantees or owners pertaining to funds provided under the act for the purpose
					 of making surveys, audits, examinations, excerpts and
					 transcripts.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2169 - Audit And Monitoring › Section 2169.2 - Grantee audits of recipients

Current through Register Vol. 46, No. 28, July 10, 2024
The grantee's financial management system must provide for
					 audits to be made by the grantee or at its direction and at the expense of the
					 grantee, of recipients, other than home buyers, with respect to information
					 related to the program, in accordance with audit guidelines to be prescribed by
					 the corporation. The corporation will take into account such audit reports in
					 evaluating the performance of grantees.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2169 - Audit And Monitoring › Section 2169.3 - Additional audits

Current through Register Vol. 46, No. 28, July 10, 2024
The corporation or its designated agent may undertake such
					 further or additional audits as it finds necessary or
					 appropriate.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2170 - Reporting Requirements › Section 2170.1 - General

Current through Register Vol. 46, No. 28, July 10, 2024
Grantees will submit such reports related to the Affordable
					 Home Ownership Development Program as the corporation may reasonably
					 require.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2170 - Reporting Requirements › Section 2170.2 - Progress reports

Current through Register Vol. 46, No. 28, July 10, 2024
Commencing from the date of execution of the grant
					 agreement up to and including the date of project close-out, the grantee must
					 submit quarterly progress reports in such form as the corporation may require.
					 Reports must include, but are not limited to, information concerning each
					 project's construction schedule, construction costs, project occupancy and data
					 on occupants' income levels, and problems, if any, encountered in carrying out
					 the project(s) or program.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2170 - Reporting Requirements › Section 2170.3 - Litigation

Current through Register Vol. 46, No. 28, July 10, 2024
The grantee will promptly notify the corporation as to the
					 existence of any litigation which may affect the project(s) or
					 program.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2171 - Project Close-out › Section 2171.1 - Project close-out

Current through Register Vol. 46, No. 28, July 10, 2024
Project close-out will occur when all costs to be paid with
					 grant funds have been incurred, when the last progress report has been
					 submitted and the last home is sold to a home buyer, and no later than six
					 months after the date for completion set forth in the grant agreement with the
					 respective grantee, or at such other time as the corporation may establish. At
					 such time, the grantee must submit, in accordance with the corporation's
					 requirements, documentation of its grant disbursements and records, a
					 certification of completion and final cost. Any cash advanced in excess of the
					 final cost must be refunded to the corporation.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2171 - Project Close-out › Section 2171.2 - Grant assistance

Current through Register Vol. 46, No. 28, July 10, 2024
The grant assistance may be cancelled in whole or in part
					 for mutual convenience if both parties agree that the project's continuation is
					 infeasible or would not produce beneficial results commensurate with the
					 further expenditure of funds.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2171 - Project Close-out › Section 2171.3 - Termination of grant

Current through Register Vol. 46, No. 28, July 10, 2024
The corporation may terminate the grantee's entire grant or
					 the remaining balance for cause.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2171 - Project Close-out › Section 2171.4 - Monitoring and submitting performance reports

Current through Register Vol. 46, No. 28, July 10, 2024
Nothing in this section will relieve the grantee of its
					 continuing responsibility to monitor and submit performance reports regarding
					 the requirements for occupancy of a home or project, even though project
					 close-out has taken place.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2172 - Program Or Project Performance › Section 2172.1 - Summary report

Current through Register Vol. 46, No. 28, July 10, 2024
Grantees will submit, by December 15th of each year, in
					 such format as the corporation may require, a summary report of all project(s)
					 or programs for which it has provided assistance during each annual period of
					 December 1st through November 30th, indicating whether the construction,
					 rehabilitation or improvement has commenced and is underway or is completed.
					 The initial report will cover the period from the date of the grant agreement
					 through November 30th of the same calendar year in which the grant agreement
					 was executed. Thereafter, each annual report will include a statement of
					 accomplishments cumulative to the reporting date.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2172 - Program Or Project Performance › Section 2172.2 - Report requirements

Current through Register Vol. 46, No. 28, July 10, 2024
The report shall include:
(a) the amount of each payment, loan or grant
				  and the identity of recipients thereof;
(b) a narrative description of the specific
				  activities performed by the grantee and the results thereof expressed in number
				  of housing units;
(c) locations of
				  homes;
(d) number of units in each
				  category of homes completed during the year or in process and a cumulative
				  statement of such information from the commencement of the project(s) or
				  program to the reporting date;
(e)
				  a report of the grantee's continued monitoring of construction progress and
				  conditions for recapture of funds and, if applicable to the grantee's
				  project(s) or program, for the limitation of the resale price of
				  homes;
(f) a description of any
				  problems encountered in advancing the project(s) or program, solutions
				  developed to meet such problems, and whether any problems are currently
				  outstanding;
(g) in the case of all
				  grantees other than municipalities, an audited financial statement, prepared by
				  an independent, certified public accountant, relating to the grantee's most
				  recent fiscal year; if the grantee's fiscal year coincides with the calendar
				  year, notwithstanding the provisions of section
				  2172.1 of this Part requiring the
				  submission by December 15th, such statement must be submitted within 90 days
				  after the close of the grantee's fiscal year; and
(h) a statement of costs (including expended
				  and/or incurred costs) concerning the project(s) or program certified by the
				  grantee and relating to the period covered by the report.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2172 - Program Or Project Performance › Section 2172.3 - Failure by grantee to meet requirements of grant agreement

Current through Register Vol. 46, No. 28, July 10, 2024
If the corporation determines that the grantee has not met
					 the requirements of the grant agreement, the grantee will be notified and given
					 an opportunity, within a prescribed time to show that it has done so or has
					 taken curative action. If the grantee fails to demonstrate that it has done so,
					 the corporation may take appropriate corrective or remedial
					 action.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2173 - Corrective And Remedial Actions › Section 2173.1 - Corrective or remedial actions

Current through Register Vol. 46, No. 28, July 10, 2024
In formulating appropriate corrective or remedial actions
					 for performance deficiencies, the corporation will take such actions as it
					 deems appropriate to prevent a continuation of the deficiency or to mitigate,
					 to the extent possible, its adverse effects or consequences, and to prevent its
					 recurrence.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2173 - Corrective And Remedial Actions › Section 2173.2 - Curing performance deficiencies

Current through Register Vol. 46, No. 28, July 10, 2024
The corporation, if it deems it appropriate to cure
					 performance deficiencies, may take, among others, the following actions:
(a) direct the grantee to submit progress
				  schedules for completing approved activities;
(b) issue a letter of warning advising the
				  grantee of the deficiency, establishing a date for corrective actions, and
				  putting the grantee on notice that more serious actions will be taken if the
				  deficiency is not corrected or is repeated;
(c) inform the grantee that certifications of
				  any information the corporation requires are no longer acceptable, and that
				  additional information or assurances are required;
(d) direct the grantee to establish and
				  follow a management plan that assigns responsibilities for carrying out
				  remedial actions;
(e) direct the
				  grantee to suspend, discontinue, or not incur costs for the affected
				  activity;
(f) direct the grantee to
				  reimburse the grantee's program account in any amounts improperly
				  expended;
(g) change the method of
				  payment from advance payment basis to a reimbursement basis; or
(h) direct the grantee to cancel the
				  development grant project before expending further funds.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XXXV - New York State Housing Finance Agency › Subchapter B - Affordable Home Ownership Development Program › Part 2174 - Reduction Or Termination Of Grant › Section 2174.1 - Reduction or termination of grant

Current through Register Vol. 46, No. 28, July 10, 2024
When the corporation determines that a grantee has failed
					 to meet one or more of the requirements of the grant agreement, the corporation
					 may reduce or recapture the grant, including amounts already obligated, or take
					 other appropriate action. For purposes of this section, other appropriate
					 action means any remedial action legally available, including, without
					 limitation, demanding in writing that the grantee reimburse (and the grantee
					 will reimburse) the corporation in the amount of the ineligible costs, and
					 bringing affirmative litigation, such as suits for declaratory judgment,
					 specific performance, temporary or permanent injunctions and any other
					 available remedies. In the event that the corporation makes such a
					 determination, then the grantee will deliver to the corporation all original
					 documents relevant to the project(s) or program, including but not limited to
					 any construction agreements, loan documents and any other related documents
					 that the corporation may require.