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This entry was published on 2014-09-22
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SECTION 905
Periodic review of contract performance; renegotiation and termination of contract
Private Housing Finance (PVH) CHAPTER 44-B, ARTICLE 16
§ 905. Periodic review of contract performance; renegotiation and
termination of contract. 1. The division shall, by regulation as
hereinafter provided, provide for formal evaluation of the performance
of a company to determine its progress in achieving the objectives
outlined in the annual neighborhood preservation plan contained in its
contract with the division. Such evaluation shall include a review of
the efforts of the company to execute each of the components of its plan
and a consultation between the company and the division regarding the
findings of the division relative to performance. The division shall
provide or cause to be provided technical assistance determined to be
necessary by the division to improve the ability of the company to
execute each of the components of its plan. Such evaluation and
determination of the need for technical assistance shall consider the
financial and staff resources of the company for the period evaluated
and any special considerations which may have had an impact on
performance during the period.

2. If the division determines that a company has not made sufficient
progress toward achieving the objectives of its annual neighborhood
preservation plan the division shall conduct a site visit to review
these findings and, if warranted, shall place the company on probation.

3. The division shall terminate or not renew or not extend a contract
in accordance with provisions of subdivision six of section nine hundred
three of this article if the commissioner determines that the
performance of a company is not sufficient to merit continued
participation in the program.

4. Notwithstanding the foregoing, the commissioner may terminate any
contract upon a finding of substantial non-compliance or other
substantial breach of the contract.