New York Consolidated Laws, Private Housing Finance Law - PVH § 923. 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 the eligibility of applicants for payments, grants and loans under this article;  funding criteria and the funding determination process;  supervision and evaluation of contracting applicants;  reporting, budgeting and record-keeping requirements;  provisions for modification and termination of contracts;  and such other matters not inconsistent with the purposes and provisions of this article as the corporation shall deem necessary or appropriate.

2. The corporation shall provide for the review, at periodic intervals, of the performance of the not-for-profit corporations and charitable organizations receiving financial assistance pursuant to this article.  Such review shall, among other things, be for the purposes of ascertaining conformity to contractual provisions, the financial integrity and efficiency of the organizations and the evaluation of the project.