§ 1132 — Infrastructure development contracts

New York § 1132

• Jurisdiction: New York
• Law PVH: Private Housing Finance
• Art. 21: Infrastructure Development Demonstration Program

Text

§ 1132. Infrastructure development contracts. 1. The agency is hereby\nauthorized, within the amounts appropriated, to enter into contracts\nwith eligible applicants to provide funds for infrastructure\nimprovements which are necessary for and will reduce the cost of the new\nconstruction or rehabilitation of affordable housing projects. Such\ncontracts shall provide for grants by the agency to the eligible\napplicant for infrastructure improvements carried out under the\ncontract. Grants shall be used to advance to or reimburse the eligible\napplicant for the actual and necessary cost of providing such\ninfrastructure improvements, provided however that grants shall not be\nused to pay the administrative costs incurred by an eligible applicant\nfor such improvements. Such payments, including payments to a\nmunicipality, shall be made in accordance with the agency's prompt\npayment statement adopted pursuant to section twenty-eight hundred\neighty of the public authorities law. Payment to the eligible applicant\nshall not be conditioned on pre-payment for such improvements by the\neligible applicant. No such grants shall exceed an amount equal to five\nthousand dollars for each unit of affordable housing to be constructed\nor rehabilitated in conjunction with such infrastructure improvements.\n 2. The agency shall not enter into a contract under this article\nexcept with an eligible applicant which has submitted an application to\na state, federal or local entity to receive funds for the construction\nor rehabilitation of an affordable housing project and submits proof of\nsuch application to the agency. Such contract shall contain provisions\nthat infrastructure development funds are dependent upon such\napplication being approved. Any contract for infrastructure development\nfunds shall contain such other information which the agency deems\nappropriate, and a plan acceptable to the agency which demonstrates that\nthe infrastructure improvements shall be undertaken in conjunction with\nthe new construction or rehabilitation of an affordable housing project,\nshall be completed in a timely fashion and will result in a\ncorresponding reduction in the cost of such affordable housing to the\noccupants therein.\n 3. Moneys expended by the agency for the purposes of this article\nshall not substitute for locally funded operating or capital\nexpenditures which the municipality would have allocated through its\nnormal budgetary process to programs that provide infrastructure\nimprovement in the absence of the funds provided for this program. All\nsuch moneys shall be used to increase locally funded operating or\ncapital expenditures for this program to a level which is greater than\nthe level which would have existed if such moneys had not been provided\nby the state. Nothing in this subdivision shall require the municipality\nto allocate funds for this program if in the municipality's judgment\nsuch allocation would require an increase in taxation or a reduction in\nother municipal services.\n 4. Notwithstanding the provisions of article one-A of the public\nauthorities law, contracts entered into by the agency pursuant to this\narticle shall not be subject to the provisions of article one-A of the\npublic authorities law.\n