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This entry was published on 2014-09-22
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SECTION 69
Compliance; general and administrative provisions
Private Housing Finance (PVH) CHAPTER 44-B, ARTICLE 3-A
§ 69. Compliance; general and administrative provisions. 1. The owner
of each project shall be responsible for assuring compliance with the
terms and conditions of the approved project description and this
article. Any project owned by a not-for-profit corporation or a housing
development fund company shall be subject to such terms and conditions
for a period of thirty-five years or such longer period as may be
provided in the project description. No project may be transferred
except in accordance with the project description, and the project
description may not be changed without the approval of the agency.

2. The agency shall issue and promulgate guidelines for the
administration of this article. The guidelines shall include provisions
concerning approval of project descriptions, the eligibility of
developers for contracts under this article; funding criteria and the
funding determination process; supervision and evaluation of contracting
developers; reporting, budgeting and record-keeping requirements;
provisions for modification and termination of contracts and recapture
of funds; and such other matters not inconsistent with the purposes and
provisions of this article as the agency shall deem necessary or
appropriate.