§ 1113 — General and administrative provisions

§ 1113. 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 eligibility of grantees for state financial assistance;\nfunding criteria and the funding determination process; supervision and\nevaluation of the contracting grantees; reporting, budgeting and\nrecordkeeping requirements; provisions for modification, termination,\nextension and renewal of contracts; and such other matters not\ninconsistent with the purposes and provisions of this article as the\ncorporation shall deem necessary, proper or appropriate. Grantees shall\ndeposit any funds received from the repayment of loans or interest\nreceived on loans into the affordable home ownership development\naccount. The corporation may provide technical services and assistance\nor contract to provide technical services and assistance to grantees to\ncomply with the provisions and intent of this article which services and\nassistance may include but shall not necessarily be limited to\nconstruction skills training, site selection, financial packaging and\nengineering and architectural services necessary for the preparation of\nproposals for entering into contracts or for the continued operation of\nprojects.\n 2. (a) The corporation shall provide the commissioner of housing and\ncommunity renewal, on a timely basis, with the data and other\ninformation necessary to compile the report or reports required pursuant\nto section twenty of the public housing law.\n (b) 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 3. 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