§ 71 — Conditions precedent to state loans

§ 71. Conditions precedent to state loans. 1. No loan shall be made\nunless the commissioner finds that: (a) the project is in conformity\nwith a plan or undertaking for the clearance, replanning, reconstruction\nor rehabilitation of a substandard and insanitary area or areas and for\nrecreational and other facilities incidental or appurtenant thereto;\n (b) The municipality in which such project is to be located has\nenacted or will enact zoning regulations, or other restrictions\nadequately protecting the area or areas in which the project is to be\nundertaken, against future uses likely to depreciate unduly the value of\nsuch project;\n (c) The estimated revenues, including any governmental grants, of the\nproject or part for which such loan is to be made will be sufficient to\ncover all probable costs of operation and maintenance, of fixed charges\nand operating and depreciation reserves;\n (d) The plans and specifications conform or will conform to the\nrequirements of this and all other laws applicable thereto, assuring\nadequate light, air, sanitation and fire protection;\n (e) Adequate open spaces for recreation are provided within the\nproject or provision therefor has been made conveniently near the\nproject; stating the manner in which such spaces are provided or are\nproposed to be within the project or near thereto;\n (f) Adequate school facilities are near the project or provision\ntherefor has been made, listing such facilities;\n (g) The occupants of the proposed housing accommodations will have\nconvenient access to probable places of employment;\n (h) That an adequate number of dwelling units especially designed for\nthe convenience and safety of aged persons as may be defined by the\ncommissioner shall be provided where a survey of the community in which\nthe project is located indicates a need therefor, and that provision\nwill be made to insure that such aged persons shall have priority in the\nrental thereof. Where all, or substantially all of the dwelling units in\na project have been especially designed for the convenience and safety\nof aged persons, the finding required under paragraph (f) of this\nsubdivision need not be made.\n (i) an adequate number of dwelling units especially designed for the\nconvenience and safety of handicapped persons as may be defined by the\ncommissioner shall be provided where a survey of the community in which\nthe project is located indicates a need therefor, that provision will be\nmade to insure that such handicapped persons shall have priority in the\nrental thereof, and that a project is designed to facilitate\nunobstructed ingress to and egress from a project.\n 2. Such findings shall be conclusive evidence of the facts therein\ncontained except upon proof of fraud or wilful misfeasance by the\ncommissioner.\n