New York Codes, Rules and Regulations › Title 14 - DEPARTMENT OF MENTAL HYGIENE › Chapter XIV - Office for People With Developmental Disabilities › Part 621 - Financial Assistance for Capital Construction and Financing › Section 621.11 - Eligible costs for a Facilities Development Corporation mortgage loan

Current through Register Vol. 46, No. 28, July 10, 2024
(a) A voluntary
				agency may use an FDC mortgage loan to meet only the following costs:
(1) the construction, acquisition,
				reconstruction, rehabilitation, or improvement of a facility;
(2) the acquisition of any interest in or
				option to purchase an interest in land, or the acquisition of, or an option to
				acquire, an ownership interest in, and a leasehold estate in the premises as
				evidenced by a proprietary lease from, an organization formed for the purpose
				of cooperative ownership of real estate and any improvements thereon, required
				as the site of the facility or for use in connection with the facility, and
				preparation of such site and land;
(3) feasibility studies, designs, surveys,
				plans, and specifications;
(4)
				program development costs;
(5)
				engineering and architectural services;
(6) indemnity and surety bonds and insurance
				premiums;
(7) equipment including
				machinery, fixtures, furnishings and other personal property required for the
				operation of the facility;
(8)
				costs incurred prior to the date of the first admission, during the period
				described in section
				686.13(c)(4)(i) 
				of this Chapter, including personal service, utilities, taxes, insurance,
				employee training, housekeeping, repair and maintenance, security, and
				administrative expenses;
(9)
				operational costs for up to three months from the date of the first admission,
				subject to the immediate repayment, at the discretion of the commissioner, of
				any or all of that portion of the loan principal attributable to such costs.
				For facilities for which the voluntary agency receives reimbursement rates or
				fees as a result of services rendered to OPWDD and/or the New York State
				Medicaid program, such repayment may be based on an assignment to OPWDD of the
				voluntary agency's rate or fee reimbursement for operational costs during such
				period, which may, at the discretion of the commissioner, be required from the
				voluntary agency in the format prescribed by the commissioner;
(10) costs and expenses in connection with
				the issuance of the bonds and notes by MCFFA to finance the facility,
				including: interest from the date of such issuance to the date such interest is
				paid by MCFFA from the payments made by the voluntary agency; related
				administrative and direct costs and fees of MCFFA, trustees, depositories and
				paying agents, not including the annual administrative fees charged by MCFFA;
				and fees and expenses of financial advisers and consultants in connection with
				such issuance;
(11) the cost of
				financing and refinancing any of the costs enumerated in this Part, including
				interest;
(12) the development
				period fee imposed by the commissioner pursuant to section
				621.12(a) 
				of this Part; and
(13) such other
				costs as the commissioner may determine to be reasonable and necessary;
				provided that such costs are allowable pursuant to the Medicare Provider
				Reimbursement Manual.