§ 1103 — General and administrative provisions

§ 1103. General and administrative provisions. 1. The corporation\nshall issue and promulgate rules and regulations for the administration\nof this article. The rules and regulations shall include provisions\nconcerning the eligibility of applicants for payments, grants and loans\nunder this article; funding criteria and the funding determination\nprocess; supervision and evaluation of contracting applicants;\nreporting, budgeting and record-keeping requirements; provisions for\nmodification and termination of contracts; and such other matters not\ninconsistent with the purposes and provisions of this article as the\ncorporation shall deem necessary or appropriate.\n 2. The corporation may provide technical services and assistance or\ncontract to provide technical services and assistance to eligible\napplicants to comply with the provisions and intent of this article\nwhich services and assistance may include but shall not necessarily be\nlimited to rehabilitation skills training, site selection, financial\npackaging and engineering and architectural services necessary for the\npreparation of proposals for entering into contracts or for the\ncontinued operation of cooperative or condominium, homesteading or\nrental rehabilitation projects.\n 3. The corporation shall, on or before September fifteenth in each\nyear, submit a proposed budget for the operation of the corporation for\nits next fiscal year to the director of the budget for his review. The\nchairman of the corporation shall also deliver a copy of such budget to\nthe chairman of the senate finance committee and the chairman of the\nassembly ways and means committee at the same time that the budget is\ndelivered to the director of the budget. The budget shall include the\ntotal amount needed for corporate purposes, including the funds required\nby the corporation for its general and administrative expenses, the\nsource of all funds that the corporation expects to receive and such\nother information as the director of the budget shall require.\n 4. The corporation shall require the submission of the names,\naddresses and business background of the principals involved, the nature\nof their fiduciary relationship and their financial relationship, past,\npresent and future, to the project and to each other.\n