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This entry was published on 2014-09-22
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General and administrative provisions
Private Housing Finance (PVH) CHAPTER 44-B, ARTICLE 19
§ 1113. General and administrative provisions. 1. The corporation
shall issue and promulgate rules and regulations for the administration
of this article. The rules and regulations shall include provisions
concerning eligibility of grantees for state financial assistance;
funding criteria and the funding determination process; supervision and
evaluation of the contracting grantees; reporting, budgeting and
recordkeeping requirements; provisions for modification, termination,
extension and renewal of contracts; and such other matters not
inconsistent with the purposes and provisions of this article as the
corporation shall deem necessary, proper or appropriate. Grantees shall
deposit any funds received from the repayment of loans or interest
received on loans into the affordable home ownership development
account. The corporation may provide technical services and assistance
or contract to provide technical services and assistance to grantees to
comply with the provisions and intent of this article which services and
assistance may include but shall not necessarily be limited to
construction skills training, site selection, financial packaging and
engineering and architectural services necessary for the preparation of
proposals for entering into contracts or for the continued operation of

2. (a) The corporation shall provide the commissioner of housing and
community renewal, on a timely basis, with the data and other
information necessary to compile the report or reports required pursuant
to section twenty of the public housing law.

(b) The corporation shall, on or before September fifteenth in each
year, submit a proposed budget for the operation of the corporation for
its next fiscal year to the director of the budget for his review. The
chairman of the corporation shall also deliver a copy of such budget to
the chairman of the senate finance committee and the chairman of the
assembly ways and means committee at the same time that the budget is
delivered to the director of the budget. The budget shall include the
total amount needed for corporate purposes, including the funds required
by the corporation for its general and administrative expenses, the
source of all funds that the corporation expects to receive and such
other information as the director of the budget shall require.

3. The corporation shall require the submission of the names,
addresses and business background of the principals involved, the nature
of their fiduciary relationship and their financial relationship, past,
present and future, to the project and to each other.