reglab/statecodes huggingface dataset:
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 1 - Housing Trust Fund Program › Part 1902 - Rent, Occupancy And Resale Restrictions › Section 1902.1 - Rent and occupancy requirements

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Legal occupants of a project at the time
						of the award of a payment, grant or loan hereunder who remain in possession
						during construction, rehabilitation or conversion shall be entitled to continue
						in possession subsequent to construction, rehabilitation or conversion. Also,
						legal occupants at the time of the award of a payment, grant or loan hereunder
						who are temporarily relocated during construction, rehabilitation or conversion
						shall not be permanently displaced.
(b) All additional occupants subsequent to
						rehabilitation or conversion shall be persons of low income at the time they
						make application for the unit.
(c)
						Any person applying for a unit in a project subject to these regulations shall
						submit to the project owner, the owner's agent or the owner's assignee, a copy
						of the most recent New York State or Federal income tax return or an affidavit
						certifying the prior year's income, along with the application for a
						unit;
(d) In selecting among
						eligible applicants for occupancy of projects subject to these regulations, the
						owner shall give preference to:
(1) persons
						or families with the lowest incomes possible given the income requirements of
						the project; and
(2) 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 assisted pursuant to the act.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 1 - Housing Trust Fund Program › Part 1902 - Rent, Occupancy And Resale Restrictions › Section 1902.2 - Resale provisions

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The
						terms and conditions of any transfer of ownership, resale, refinancing or
						additional financing of a project assisted hereunder must be submitted to the
						corporation or its designee for approval. The corporation or its designee
						reserves the right to restructure or recapture any payments, grants or loans to
						a project as a result of its review of such proposals.
(b) Homesteading project.
(1) A homesteading project may only be
						transferred or sold to an eligible applicant.
(2) The resale price of a homesteading
						project shall not exceed an amount equal to the sum of:
(i) the funds originally paid by the owner to
						purchase and rehabilitate or construct the project, plus the lesser of the cost
						or the fair market value of material contributed thereto, plus the lesser of
						the cost of labor or the fair market value of labor contributed thereto, with
						interest thereon at the rate of six percent per annum, excluding all funds
						received pursuant to the act and from such other sources as determined by the
						corporation;
(ii) the payments made
						by the owner after rehabilitation or construction for capital improvements,
						with interest thereon at the rate of six percent per annum, excluding all funds
						received pursuant to the act and from such other sources as determined by the
						corporation;
(iii) the reduction in
						the amount of the outstanding principal of all mortgages and/or loans for such
						project paid by the owner, to the extent that the proceeds of such mortgages
						and loans were used only for the purchase, rehabilitation, construction and
						capital improvement of the project with interest thereon at the rate of six
						percent per annum;
(iv) the actual
						principal indebtedness of all mortgages on, and loans for, such project as
						referred to in subparagraph (iii) of this paragraph, which the owner is
						required to satisfy, provided that if the indebtedness is not paid in full upon
						the sale of the project, such owner shall not be credited with the amount of
						such indebtedness; and
(v) the
						reasonable costs and expenses incurred in connection with the sale of such
						project.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 1 - Housing Trust Fund Program › Part 1902 - Rent, Occupancy And Resale Restrictions › Section 1902.3 - Duration

Current through Register Vol. 46, No. 28, July 10, 2024
(a) For rental,
						condominium or cooperative projects, resale and occupancy restrictions shall
						apply for a period of 20 years following the completion of construction,
						rehabilitation or conversion, or for the period during which any loan or
						indebtedness hereunder remains outstanding, whichever is greater.
(b) For homesteading projects, resale and
						occupancy restrictions shall apply for a period of 15 years following
						completion of construction, rehabilitation or conversion, or for the period
						during which any loan or indebtedness hereunder remains outstanding, whichever
						is greater.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 1 - Housing Trust Fund Program › Part 1903 - Application Process › Section 1903.1 - Application

Current through Register Vol. 46, No. 28, July 10, 2024
An application for an award may be made at any
						  time.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 1 - Housing Trust Fund Program › Part 1903 - Application Process › Section 1903.2 - Application review

Current through Register Vol. 46, No. 28, July 10, 2024
All applicants shall be sent an acknowledgment letter
						  containing a file number, which must be used in all future
						  correspondence.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 1 - Housing Trust Fund Program › Part 1903 - Application Process › Section 1903.3 - Application evaluation

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The
						corporation shall select proposals for funding from among complete applications
						from eligible applicants based upon its evaluation of the proposal's
						consistency with the purposes and policies of the act. Funding shall be awarded
						in general based upon the following criteria:
(1) degree of benefit to persons of low and
						very low income;
(2) low-income
						housing needs in the area proposed for rehabilitation;
(3) project financial feasibility;
(4) overall project design;
(5) administrative plan;
(6) project or program readiness;
(7) the extent to which the project takes
						advantage of available cost containment measures, including but not limited to
						project design features, construction technologies and local property tax
						exemption/abatement;
(8) expertise
						of the applicant in designing and managing housing rehabilitation;
						and
(9) the extent to which a
						Housing Trust Fund award will result in commitment of funds from other sources,
						including private, nonprofit and governmental sources.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 1 - Housing Trust Fund Program › Part 1903 - Application Process › Section 1903.4 - Participation by minority group members and women

Current through Register Vol. 46, No. 28, July 10, 2024
All awards of payments, grants or loans of over
						  $100,000 shall require the eligible applicant, for projects in which bids are
						  required, to submit for approval of the corporation a utilization plan as
						  defined in section 310(9) of the New York State Executive Law (Executive Law)
						  prior to the award of a payment, grant or loan.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 1 - Housing Trust Fund Program › Part 1903 - Application Process › Section 1903.5 - Notification

Current through Register Vol. 46, No. 28, July 10, 2024
The corporation shall notify each applicant of an award
						  of a payment, grant or loan and the terms and conditions thereof, or the
						  rejection of the application.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 1 - Housing Trust Fund Program › Part 1903 - Application Process › Section 1903.6 - Conditions of award

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The
						corporation shall provide the applicant who has been awarded a payment, grant
						or loan a list of conditions that must be met before a regulatory agreement may
						be entered into.
(b) The
						corporation shall notify the applicant of the sufficiency of or insufficiency
						of the documents within 15 working days after receipt of all documents required
						by the list of conditions.
(c) The
						corporation shall enter into a regulatory agreement within 45 working days of
						the satisfaction of the list of conditions.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 1 - Housing Trust Fund Program › Part 1903 - Application Process › Section 1903.7 - Disclosure requirements of eligible applicants

Current through Register Vol. 46, No. 28, July 10, 2024
The corporation shall require in its list of conditions
						  that the applicant submit the names, addresses and business backgrounds of the
						  principals involved and the nature of their fiduciary and financial
						  relationships to the project and each other, whether past, present or
						  future.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 1 - Housing Trust Fund Program › Part 1904 - Regulatory Agreements › Section 1904.1 - Regulatory agreements

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The
						corporation shall enter into a regulatory agreement with each applicant who has
						been accepted as a project recipient or local program administrator, provided
						that the conditions set forth in the award have been satisfied. The regulatory
						agreement shall provide that regulation of the project shall extend over the
						greater of the period of the grant or loan or for 15 years in the case of
						homesteading projects, or 20 years in the case of condominium projects,
						cooperative projects and rental projects, after completion of the construction,
						rehabilitation or conversion of the project.
(b) If the project recipient is a private
						developer, the regulatory agreement shall require the private developer to make
						an equity investment of the greater of:
(1) 2
						1/2 percent of project costs; or
(2) 5 percent of project costs less grants
						which are to be applied to said costs.
The term grants as used in this paragraph shall be
						  deemed to include loans which are not required to be repaid. For the purposes
						  of this subdivision, property which is obtained through a governmental program
						  or from a governmental unit for a public purpose shall be deemed to have no
						  equity value. For the purposes of this subdivision, property owned or acquired
						  and contributed to the project shall be deemed to have an equity value of 25
						  percent of its preconstruction appraised value. The equity investment is to be
						  made at or prior to the construction loan closing. Equity value may also be
						  recognized for contributions to the acquisition of property which is financed
						  in part by a payment, grant or loan made by the corporation. The equity value
						  in such case shall also be limited to the 25 percent of the actual investment
						  made by the private developer. The corporation may, in its discretion, consent
						  to the establishment of a different equity value if it is necessary to the
						  project. Among the criteria the corporation shall consider in exercising its
						  discretion are:
(i) cost incurred by
						the owner to acquire the property;
(ii) the preconstruction appraised value;
						and
(iii) the suitability of the
						property for development of low income housing.
A private developer is not precluded from making a
						  greater equity investment than that required.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 1 - Housing Trust Fund Program › Part 1904 - Regulatory Agreements › Section 1904.2 - Disbursements

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The corporation
						shall make payments for eligible construction, rehabilitation or conversion
						costs on a project basis, conditioned upon the submission of satisfactory
						information by the project recipient or local program administrator and
						compliance with procedures specified by the corporation. Where an eligible
						applicant has transferred ownership of a project and assigned the regulatory
						agreement with approval of the corporation, disbursements may be made directly
						to the assignee.
(b) The amount of
						any Housing Trust Fund payment, loan or grant for any project shall not exceed
						an average of $55,000 per unit. The corporation may, in its discretion, provide
						a payment, loan or grant in excess of $55,000 but not in excess of $75,000.
						Among the criteria the corporation shall consider in exercising its discretion
						are:
(1) the average cost of construction in
						the area;
(2) the location of the
						project; and
(3) the impact of the
						additional funding on the affordability of the project for the intended
						occupants of such project.
Any construction, rehabilitation or conversion costs
						  that exceed this ceiling must be paid for by sources other than the Housing
						  Trust Fund.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 1 - Housing Trust Fund Program › Part 1904 - Regulatory Agreements › Section 1904.3 - Repayment provisions

Current through Register Vol. 46, No. 28, July 10, 2024
Each regulatory agreement shall make provision for the
						  repayment of payments, grants or loans to the Housing Trust Fund by recipients
						  or subrecipients, their successors or assigns.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 1 - Housing Trust Fund Program › Part 1904 - Regulatory Agreements › Section 1904.4 - Performance supervision

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The
						corporation shall review at periodic intervals at least annually the
						performance of project recipients and local program administrators under their
						respective regulatory agreements with the corporation. At its discretion the
						corporation may also review the performance of subrecipients.
(b) During the construction phase of any
						project assisted by the trust fund, should the corporation determine that there
						is evidence of fraud or malfeasance by a project recipient, local program
						administrator or subrecipient in the performance of any aspect of the
						construction, conversion or rehabilitation work or payment process, the
						corporation reserves the right to recapture from the project recipient or local
						program administrator all funds awarded to that recipient or administrator
						under its regulatory agreement.
(c)
						Program recipients and local program administrators shall provide such periodic
						reports as the corporation may require to facilitate the evaluation process.
						The reports shall include, but shall not be limited to, the following items:
(1) progress of proposed construction,
						rehabilitation or conversion(s);
(2) the status of project operations;
						and
(3) annual audited financial
						statements in accordance with generally accepted auditing standards or such
						other financial reports as the corporation may require.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 1 - Housing Trust Fund Program › Part 1904 - Regulatory Agreements › Section 1904.5 - Defaults on mortgages not made by the corporation

Current through Register Vol. 46, No. 28, July 10, 2024
In cases of projects subject to mortgages made by any
						  lender, except as to loans made by the corporation:
(a) the lender must give notice to the
						corporation of any default in payment of principal or interest on such mortgage
						by the owner;
(b) the corporation,
						shall have 60 days upon receipt of such notice to cure the default and make the
						project economically viable by:
(1) assisting
						the owner in entering into a mortgage modification agreement with the
						lender;
(2) finding an eligible
						applicant to purchase the project and assure its obligations; or
(3) such other action as deemed appropriate,
						consistent with the provisions of the act; and
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 1 - Housing Trust Fund Program › Part 1904 - Regulatory Agreements › Section 1904.6 - Limitation of profit or rate of return of private developers

Current through Register Vol. 46, No. 28, July 10, 2024
A private developer shall be entitled to a limited
						  profit or rate of return of investors in accordance with a formula established
						  by the corporation. Said formula may provide for alternatives which can include
						  short term and long term recovery methods of the limited profits or rate of
						  return of investors.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 1 - Housing Trust Fund Program › Part 1904 - Regulatory Agreements › Section 1904.7 - Reserve requirements

Current through Register Vol. 46, No. 28, July 10, 2024
The corporation may require that the following reserves
						  be created by the project recipient:
(a) working capital fund;
(b) replacement reserve; and
(c) operation reserve.
To the extent permitted by the act and these
						  regulations, the working capital fund and the replacement reserve may be funded
						  by the payment, grant or loan of the corporation. The conditions and
						  requirements of said reserves shall be set forth in the regulatory
						  agreement.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 1 - Housing Trust Fund Program › Part 1904 - Regulatory Agreements › Section 1904.8 - Participation by minority group members and women -contract requirements

Current through Register Vol. 46, No. 28, July 10, 2024
The regulatory agreement shall contain such provisions
						  as are necessary to effectuate the provisions of article 15-A of the Executive
						  Law and the regulations promulgated thereby. These provisions include, but are
						  not limited by, the following provisions:
(a) a good faith effort to solicit active
						participation by enterprises identified in the directory of certified
						businesses maintained by the Governor's Office of Minority and Women's Business
						Development;
(b) agreement to be
						bound by the provisions of section
						316 of the
						Executive Law; and
(c) requirement
						that any subcontractor comply with subdivisions (a) and (b) of this
						section.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 1 - Housing Trust Fund Program › Part 1905 - Technical Assistance › Section 1905.1 - Technical assistance

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Subject
						to the availability of funds, the corporation shall provide technical services
						or assistance or contract to provide for technical services or assistance to
						eligible applicants, recipients, subrecipients, or local program
						administrators.
(b) Local program
						administrators may provide engineering and architectural services related to a
						project to subrecipients.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 2 - Corporate Regulations › Part 1906 - Prompt Payment Policy › Section 1906.1 - Statement of purpose

Current through Register Vol. 46, No. 28, July 10, 2024
This policy statement is adopted pursuant to section
						  2880 of
						  the Public Authorities Law and is applicable to the purchase of goods, services
						  or property from contractors, as herein defined.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 2 - Corporate Regulations › Part 1906 - Prompt Payment Policy › Section 1906.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
For the purpose of this section, the following terms
						  shall have the following meanings unless the context shall clearly indicate
						  otherwise:
(a) Contract shall mean an
						enforceable agreement entered into by the corporation and a contractor,
						including purchase orders.
(b)
						Contractor shall mean any persons, partnership, association, corporation or
						organization providing goods, property or services to the corporation pursuant
						to a contract.
(c) Corporation
						shall mean the New York State Housing Trust Fund Corporation.
(d) Designated payment department shall mean
						the department designated by the corporation to which a proper invoice is to be
						submitted by a contractor.
(e)
						Prompt payment shall mean payment of a debt due and owing by the corporation
						before interest accrues thereon pursuant to the provisions of this
						Part.
(f) Proper invoice shall mean
						a written request for contract payment setting forth the description, price and
						quantity of goods, property or services provided by a contractor in such form,
						and supported by such other substantiating documentation, as the corporation
						may reasonably require.
(g) Receipt
						of invoice shall mean either:
(1) the date on
						which a proper invoice is received by the designated payment department;
						or
(2) the date on which the
						corporation receives the purchased goods, property or services covered by the
						proper invoice, whichever is later.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 2 - Corporate Regulations › Part 1906 - Prompt Payment Policy › Section 1906.3 - Policy enactment

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Payment
						request procedure. Contractors who are owed money by the corporation shall send
						a proper invoice to the attention of finance unit, the designated payment
						department of the corporation. Finance unit will log the reception date of the
						invoice, and send the document to the unit within the corporation that received
						the purchased goods, property or services from the contractor for review and
						verification.
(b) Schedule for
						prompt payment. The corporation will adhere to the following schedule for a
						prompt payment:
(1) For receipt of invoices
						between April 29, 1988, and July 1, 1989, payment will be made within 45
						calendar days after receipt of a proper invoice.
(2) For receipt of invoice after July 1,
						1989, payment will be made within 30 calendar days, excluding legal holidays,
						after receipt of a proper invoice
This schedule will not apply in those instances where
						  payment is being delayed for any of the exceptions listed in subdivision (e) of
						  this section or tolled for any of the reasons listed in subdivision (f) of this
						  section.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 2 - Corporate Regulations › Part 1906 - Prompt Payment Policy › Section 1906.4 - Reports

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Statement
						filing. Within 30 days of the adoption of this statement, and of any amendments
						hereto, the corporation shall file copies with the State Comptroller, the State
						Director of the Budget, the Chairman of the Senate Finance Committee, and the
						Chairman of the Assembly Ways and Means Committee.
(b) Annual report. Within 90 days after the
						end of each fiscal year following January 1, 1989, the corporation shall
						prepare an annual report on the scope and implementation of this prompt payment
						policy. The report shall include, but not be limited to, the following:
(1) a listing of the types or categories of
						contracts which the corporation entered into during the 12-month period of the
						report with an indication whether each such contract was subject to the prompt
						payment requirements, and if not, why not;
(2) the number and amount of interest
						payments made for contracts, arranged according to each such type or
						category;
(3) the number of
						interest chargeable days, and the total number of days taken to process each
						late contract payment; and
(4) a
						summary of the principal reasons why such late payments had to be made.
Copies of this report shall be filed with the State
						  Comptroller, the State Director of the Budget, the Chairman of the Senate
						  Finance Committee and the Chairman of the Assembly Ways and Means
						  Committee.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 2 - Corporate Regulations › Part 1906 - Prompt Payment Policy › Section 1906.5 - Miscellaneous provisions

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
						Statement amendment. The corporation shall have the power to amend this policy
						statement by promulgating amended rules and regulations at any time.
(b) Contract incorporation. The policy
						statement in effect at the time of the creation of a contract is hereby
						incorporated into and made a part of that contract.
(c) Public access. The corporation shall make
						copies of this policy statement, as well as the annual report, available to the
						public upon reasonable request at the corporation's main office. In addition,
						the corporation shall provide a copy of this policy statement to each
						contractor.
(d) Applicability. The
						statute authorizing this statement is not applicable to the corporation
						contracts with other governmental agencies, to interest on judgments rendered
						by a court against the corporation pursuant to any other statute, or in
						situations where the corporation exercises a legally authorized setoff against
						all or part of a payment due a contractor. In addition, this policy statement
						shall not apply to contracts with eligible applicants for the furnishing by
						such applicants of housing for persons of low income.
(e) Legal processes. The corporation is under
						no liability to pay interest pursuant to the statute after a contractor has
						filed a claim or given notice of an intention to file claim or commenced legal
						action for payment of interest.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 3 - Turnkey Program › Part 1920 - Turnkey Regulations › Section 1920.1 - Purposes

Current through Register Vol. 46, No. 28, July 10, 2024
These regulations implement the provisions of Article
						  XVIII-A of the Private Housing Finance Law (the Act) which establishes a
						  program to provide grants or loans which shall be used to pay for all or a
						  portion of the project costs of constructing or rehabilitating turnkey/enhanced
						  rental projects, which shall thereafter be owned by eligible owners for the
						  benefit of persons of low income.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 3 - Turnkey Program › Part 1920 - Turnkey Regulations › Section 1920.3 - Operational bulletins and procedural manuals

Current through Register Vol. 46, No. 28, July 10, 2024
The Corporation, from time to time, shall issue
						  operational and procedural manuals and amendments thereto as it deems necessary
						  for the implementation of the Act and of these regulations.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 3 - Turnkey Program › Part 1920 - Turnkey Regulations › Section 1920.4 - Conflict of interest

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The
						following are restricted from holding voting board membership, serving as
						officers of the applicant and/or staff management positions, except where
						otherwise required by statute:
(1) State
						legislators and members of their staffs who hold policy making
						positions;
(2) Commissioners and
						chairpersons of state departments and their deputies and assistants (including
						members or directors of public authorities, public benefit corporations,
						boards, commissions and councils);
(3) Staff of the Division of Housing and
						Community Renewal;
(4) Statewide
						elected officials, including the Governor, Lieutenant Governor, Attorney
						General and Comptroller, and members of their staffs who hold policy making
						positions;
(5) Chief executive
						officials and members of the legislative bodies of counties having a population
						of 275,000 or more, within which the project is located, or cities, towns and
						villages having a population of 20,000 or more, within the county in which the
						project is located, except where board membership for such persons is mandated
						by other relevant Federal or State statutes; and
(6) Political party chairpersons, party
						organization leaders and members of their executive committees in the state, in
						counties having a population of 275,000 or more within which the project is
						located, or in cities, towns and villages having a population of 20,000 or more
						within the county in which the project is located.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 3 - Turnkey Program › Part 1920 - Turnkey Regulations › Section 1920.5 - Turnkey Housing Trust Fund

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Grants
						or loans may be made by the Corporation to eligible applicants for all or part
						of project costs.
(b) The
						Corporation shall issue funding reservations to eligible applicants setting
						forth the prerequisites of any grant or loan.
(c) When the eligible applicant secures
						financing for the construction or financing of the project the Corporation
						shall enter into an agreement with the eligible applicant and an agreement with
						the eligible owner.
(d) Grants or
						loans may be made by the Corporation upon completion of construction or
						rehabilitation of a project as defined in the purchase contract.
(e) All projects shall be operated as rental
						residential properties.
(f) The
						term of regulation of a project shall commence on the date construction or
						rehabilitation is completed, as determined by the Corporation pursuant to the
						purchase agreement, and shall terminate 99 years thereafter.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 3 - Turnkey Program › Part 1920 - Turnkey Regulations › Section 1920.6 - Turnkey project costs

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Turnkey
						project costs shall be the reasonable and necessary costs for planning,
						financing, acquiring land or buildings and constructing new buildings or
						rehabilitating existing buildings.
(b) Acquisition costs shall account for no
						more than 20 percent of turnkey project costs.
(c) Turnkey project costs may also include:
(1) all or a portion of the reserve fund and
						the working capital fund; and
(2)
						interest incurred on construction financing.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 3 - Turnkey Program › Part 1920 - Turnkey Regulations › Section 1920.7 - Selection process

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Request for
						Proposals. The Corporation shall issue a request for proposals at such
						intervals as it deems necessary for the optimal selection of eligible
						applicants and eligible owners. The Corporation may incorporate into each
						request for proposals such terms and conditions as it deems, in its sole
						discretion, to be reasonable to a particular project.
(b) Proposals.
(1) Eligible applicants may submit proposals
						in response to a request for proposals issued by the Corporation.
(2) A proposal submitted by an eligible
						applicant shall include:
(i) A development
						timetable which shall include projected time schedules for:
(a) commencement and completion of regulatory
						and review processes and approvals;
(b) construction loan closing;
(c) commencement and completion of
						construction;
(d) occupancy
						availability and full occupancy dates; and
(e) any other information required in the
						request for proposals;
(ii) an operating and maintenance
						budget;
(iii) an estimate of total
						project costs which shall include the costs necessary for:
(a) construction or rehabilitation;
(b) the working capital fund and the reserve
						fund; and
(c) other reasonable
						costs necessary for completion of the project;
(iv) evidence that the municipality within
						which the project will be located is experiencing a shortage of affordable
						housing for persons of low income and that the project will contribute to
						reducing such shortage;
(v) the
						names, addresses and business backgrounds of the principals involved, including
						those of the eligible owner, the nature of their fiduciary relationship and
						their financial relationship, past, present and future, to the project and to
						each other;
(vi) the identity of
						the eligible owner if it is not the eligible applicant;
(vii) evidence of consultation with an
						eligible owner; and
(viii) any
						other information the Corporation may require in its request for
						proposals.
(3) A
						nonrefundable submission fee, not to exceed $1,000, may be may be charged by
						the Corporation, if stated in the request for proposals, which shall be
						submitted with the proposal. In determining the fee, the Corporation shall
						weigh the costs of administering the Act and the interest in encouraging
						complete and qualified proposals.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 3 - Turnkey Program › Part 1920 - Turnkey Regulations › Section 1920.8 - Project supervision

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
						Construction financing. An eligible applicant shall not borrow any funds for
						the project without the prior written approval of the Corporation. Said
						approval shall be based on various factors including, but not limited to, the
						demonstrated need for additional funds for the project, the project's capacity
						to support additional debt and the effect of such additional debt on the
						Corporation's interest in the project.
(b) Resale provisions.
(1) A project may only be transferred or sold
						with the approval of the Corporation to an eligible owner approved by the
						Corporation. Said approval shall be based upon various factors including, but
						not limited to, the needs of the project, compliance with the purposes of the
						Act and the ability of the proposed transferee to operate the
						project.
(2) The resale price of a
						project shall be subject to the same limitations as that set forth for rental
						projects in section
						1102
						(3)(f)(ii) of the Private Housing Finance
						Law.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 3 - Turnkey Program › Part 1920 - Turnkey Regulations › Section 1920.9 - Rental policy

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Tenant
						selection.
(1) Tenant selection shall reflect
						preferences as set out in section 1106-f (4) of the Act.
(2) Written leases with a term of at least
						one year are required for all tenants.
(3) Each unit assisted hereunder shall be
						rented as the principal residence of the tenant.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 4 - Special Needs Housing Program › Part 1930 - General Provisions › Section 1930.1 - Purpose

Current through Register Vol. 46, No. 28, July 10, 2024
The purpose of the Special Needs Housing Program is to
						  assist eligible not-for-profit corporations in the acquisition, rehabilitation,
						  reconstruction or improvement of single room occupancy accommodations for
						  persons of lower income.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 4 - Special Needs Housing Program › Part 1930 - General Provisions › Section 1930.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Corporation
						means the Housing Trust Fund Corporation.
(b) Eligible applicant or applicant means a
						not-for-profit corporation which has experience related to the acquisition,
						rehabilitation, improvement, or management of other housing projects, or can
						obtain the experience necessary to undertake the project.
(c) Eligible project costs include site
						acquisition, development costs, organizational costs, funds for reserves and
						working capital.
(d) Income or
						annual income means the adjusted gross income as reported in the New York State
						income tax return, or would be reported if such return were required.
(e) Person of lower income means an
						individual whose annual income does not exceed 80 percent of the median annual
						income for all the residents of the metropolitan statistical area where the
						project is located.
(f) Program
						means the Special Needs Housing Program.
(g) Principal means any individual who has a
						10 percent interest or more in, or is an officer of or is a paid or voting
						director of, an eligible applicant.
(h) Regulatory agreement means the document
						executed by the eligible applicant which incorporates the statute and these
						regulations.
(i) Reserve fund means
						a fund or funds to be used in accordance with guidelines established by the
						corporation for on-going operation and maintenance costs and replacement
						costs.
(j) Single room housing
						project or project or projectmeans a specific work or improvement undertaken by
						the applicant, including lands, buildings and improvements acquired, owned,
						rehabilitated, or operated by an applicant to provide single room housing
						accommodations to persons of lower income.
(k) Single room occupancy or SRO means a
						dwelling unit which contains no kitchen or food preparation area, but may
						contain a bathroom, and which is suitable for occupancy by no more than two
						individuals.
(l) Special population
						means a population with needs exceeding the provision of shelter and requiring
						supportive services such as counseling, meals, personal assistance or similar
						services provided either on-site, or off-site under contract with a local
						service provider.
(m) Statute shall
						mean the Special Needs Housing Act of 1988, chapter 261 of the Laws of 1988, as
						amended.
(n) Working capital means
						expenses including, but not limited to, liability insurance, fidelity bond
						premiums, utility hook-up deposits, maintenance equipment, movable furnishings
						and equipment and other initial project-related expenses as approved by the
						corporation.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 4 - Special Needs Housing Program › Part 1931 - Application Process › Section 1931.1 - Application

Current through Register Vol. 46, No. 28, July 10, 2024
Eligible applicants may obtain and/or submit an
						  application at any of the regional offices of the Division of Housing and
						  Community Renewal.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 4 - Special Needs Housing Program › Part 1931 - Application Process › Section 1931.2 - Application review and evaluation

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Each application submitted will be
						reviewed to determine compliance with the eligibility provisions of the
						regulations.
(b) Each application
						that satisfies the eligibility provisions of the program requirements will be
						evaluated and rated.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 4 - Special Needs Housing Program › Part 1931 - Application Process › Section 1931.3 - Participation by minority group members and women

Current through Register Vol. 46, No. 28, July 10, 2024
All activities funded in whole or in part under the
						  program shall be consistent with all relevant State equal employment
						  opportunity, nondiscrimination, and fair housing laws. All awards of over
						  $100,000 shall require the eligible applicant, for projects in which bids are
						  required, to submit for approval of the corporation a utilization plan as
						  defined in section 310, subsection 9, of the New York State Executive Law
						  (Executive Law) prior to the award.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 4 - Special Needs Housing Program › Part 1931 - Application Process › Section 1931.4 - Disclosure requirements of eligible applicants

Current through Register Vol. 46, No. 28, July 10, 2024
The corporation shall require in its list of conditions
						  that the eligible applicant submit, in a form developed by the corporation, the
						  names, addresses and business backgrounds of the principals involved and the
						  nature of their fiduciary and financial relationships to the project and each
						  other, whether past, present or future. The eligible applicant will update the
						  information upon any change.
New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter V - Urban Renewal › Subchapter B - Housing Trust Fund Corporation › Article 4 - Special Needs Housing Program › Part 1932 - Regulatory Agreements › Section 1932.1 - Regulatory agreements

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The
						corporation shall enter into a regulatory agreement with each eligible
						applicant who has been accepted, provided that the conditions set forth in the
						award have been satisfied.
(b) The
						regulatory agreement shall provide that the restrictions on the use of the
						eligible property are real covenants that shall run with the land until the
						termination of the regulatory period.