§ 1262 — Residential emergency services to offer home repairs to the elderly contracts

New York § 1262

• Jurisdiction: New York
• Law PVH: Private Housing Finance
• Art. 29: Residential Emergency Services to Offer Home Repairs to the Elderly Program

Text

§ 1262. Residential emergency services to offer home repairs to the\nelderly contracts. 1. Within the limit of funds available in the\nresidential emergency services to offer home repairs to the elderly\nprogram, the corporation is hereby authorized to enter into contracts\nwith eligible applicants to provide financial assistance for the actual\ncosts of a residential emergency services to offer home repairs to the\nelderly program. The financial assistance shall be either in the form of\ngrants or loans, as the corporation shall determine. Funds must be used\nfor one- to four-unit dwellings that are owned and occupied by eligible\nhouseholds, and work undertaken cannot exceed twenty thousand dollars\nper building. No more than fifty percent of the total amount awarded\npursuant to this article in any fiscal year shall be allocated to any\nresidential emergency services to offer home repairs to the elderly\nprogram located within any single municipality.\n 2. From the date of the emergency referral, all repairs must be\ncompleted within sixty business days of the start of the repairs\nprovided, however, that the commissioner shall grant the eligible\napplicant additional time for good cause.\n 3. The total payment pursuant to any one contract shall not exceed\nfive hundred thousand dollars and the contract shall provide for\ncompletion of the program within a reasonable period, as specified\ntherein, which shall not in any event exceed three years from its\ncommencement. Upon request, the corporation may extend the term of the\ncontract for up to two additional one year periods for good cause shown\nby the eligible applicant.\n 4. The corporation shall authorize the eligible applicant to spend ten\npercent of the contract amount for approved planning and administrative\ncosts associated with administering the program.\n