§ 1172 — The New York state HOME program

New York § 1172

• Jurisdiction: New York
• Law PVH: Private Housing Finance
• Art. 24: National Affordable Housing Act Program

Text

§ 1172. The New York state HOME program. 1. Agreements. (a) Within\nthe limit of HOME program funds, the division is hereby authorized to\ntake administrative actions necessary to comply with HUD requirements\nand consistent with the provisions of this article in order to enter\ninto agreements with applicants to provide grants and loans which such\napplicants shall use to finance projects that qualify under HOME\nregulations as eligible activities.\n (b) The division shall not enter into an agreement under this article\nexcept with an eligible applicant which has submitted an application\npursuant to a notification of fund availability and a request for\nproposals issued by the division.\n (c) The division and the applicant shall execute a grant or loan\nagreement which shall set forth the terms and conditions under which the\ngrant or loan will be provided.\n 2. Notice of fund availability. The division shall issue its initial\nnotice of fund availability and request for proposals within forty-five\nworking days of the effective date of this article. No more than sixty\npercent of the HOME funds shall be available for reservation in such\ninitial funding cycle. No later than sixteen months from the effective\ndate of this article, the division shall issue a second request for\nproposals and make available those funds not committed during the\ninitial request for proposals, including funds recaptured by or\notherwise made available to the division by the federal government under\nthe HOME program. Additional requests for proposals shall be issued at\nthe discretion of the division but in any event no later than sixty days\nfollowing the availability of additional federal funds.\n 3. Application procedures. (a) Documentation determining eligibility.\nThe division shall provide each applicant with a list of documents that\nmust be included in the application before the application can be\nentered into the competitive process for the awarding of grants and\nloans. The division shall also include with such list of documents a\ndetailed description of the review and selection procedures criteria\nutilized by the division pursuant to paragraph (b) of this subdivision.\nWithin ten working days after the last day for receipt of applications,\nthe division shall notify applicants if and how the application is\nincomplete and provide ten working days to complete such application.\nDocumentation requirements shall include but not necessarily be limited\nto: (1) a feasibility study and market analysis of the proposal; (2) a\nproposed project financing and leveraging plan; (3) a schedule, with\nspecific dates, of the expected project commencement date, expected\ncompletion date, and if appropriate, the anticipated schedule for\nclosing and occupancy of units; (4) a description of the applicant's\nqualifications and previous experience; (5) a statement by the applicant\nas to the status of all public approvals and clearances required to\nundertake the project; (6) a plan as to how applicants will ensure\ncompliance with all federally mandated regulations throughout the\nregulatory term; (7) a statement describing the amount of and source of\nany matching contributions required for the proposed project and an\nopinion of counsel that funds proposed to be used as matching\ncontributions are legally available to be used as proposed; and (8) a\nstatement of need and how the project will further goals delineated\nwithin the state CHAS.\n (b) The review and selection procedure. Within forty-five working days\nof the effective date of this article, the division shall develop,\nconsistent with federal law and regulations, a review procedure and\nselection criteria for evaluating applications, which shall include\ndesign, underwriting, legal and program requirements. Such procedure and\nselection criteria shall be provided to applicants with the application.\nSuch selection criteria shall include but not be limited to the\nfollowing factors: (1) the extent to which the proposal will serve a\ndemonstrated need; (2) the degree to which the proposal leverages\nprivate investment or other funding sources; (3) the likelihood of\nsuccessful project completion, including consideration of the submitted\nmarket analysis, the prior experience of the applicant, and the\nviability of the submitted completion schedule; and (4) type of\nassistance requested.\n 4. Selection for award and notification requirements. The division\nshall base the awarding of grants and loans subject to the availability\nof funds upon the competitive review and selection procedure described\nin paragraph (b) of subdivision three of this section. Within eighty\nworking days following the last day for receipt of applications in\nresponse to a request for proposals, the division shall notify all\napplicants of its funding decisions.\n (a) The division will notify, in writing, all applicants who were not\nselected for funding of the reasons why the proposal was not funded,\nincluding the design, underwriting, legal or program deficiencies,\ndeficiencies of any documents and/or the basis upon which the\napplication was determined to be ineligible for funding. Until the\nissuance of a subsequent notice of fund availability, applicants not\nselected for funding due solely to the non-availability of federal funds\nunder the notice of fund availability shall remain eligible for\nselection for funding under such notice of fund availability in the\nevent that unused federal funds become available for reallocation.\n (b) The division shall provide each applicant selected for funding\nwith a list of conditions that must be met prior to entering into a\ncontract pursuant to this article. Within fifteen working days of\nreceipt by the division of all documents in satisfaction of the list,\nthe division shall notify the applicant of the sufficiency or\ninsufficiency of the documents. After satisfaction by the applicant of\nall conditions required by the division prior to entering into a\ncontract, the division shall enter into the contract within forty-five\nworking days of satisfaction of such conditions. Applications which are\nnot selected for funding must be resubmitted by the applicant for\nconsideration under subsequent notices of funding availability.\n 5. Distribution of funds. Eighty percent of the funds available\nhereunder after deducting the set asides mandated by NAHA for community\nhousing development organizations, shall be reserved for projects\nlocated within non-participating jurisdictions, provided however, that\nsuch reservation may be less than eighty percent where, following a\nnotice of funding availability and request for proposals, the division\nhas made a written finding that (i) applications, except those not\nselected for funding pursuant to subdivision four of this section, for\nprojects in non-participating jurisdictions will not totally utilize the\nremaining available reserved funds and (ii) such funds are subject to\nrecapture by HUD pursuant to federal HOME regulations within one hundred\neighty days.\n 6. Monitoring and review. The division shall provide for the review,\nat periodic intervals not less than annually, of the performance of\napplicants receiving grants or loans pursuant to this article. Such\nreview shall, among other things, be for the purposes of ascertaining\nthe conformity to agreement provisions, and adherence to federal HOME\nregulations. Agreements entered into pursuant to this article may be\nterminated and funds may be withheld or recaptured by the division upon\na finding of substantial nonperformance or breach by such applicant\nunder its agreement or for failure to adhere to federal NAHA\nrequirements.\n 7. Notwithstanding any contrary provision of law, on and after June\nthirtieth, nineteen hundred ninety-five, the division shall not issue\nnotices of fund availability, accept applications or enter into any new\nagreements pursuant to the provisions of this section.\n