New York Consolidated Laws, Private Housing Finance Law - PVH § 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 projects.

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.