New York § 905 Periodic review of contract performance; renegotiation and termination of contract

New York Statutes

§ 905 — Periodic review of contract performance; renegotiation and termination of contract

New York § 905

Law PVHPrivate Housing Finance

Art. 16Neighborhood Preservation Companies

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Bluebook

N.Y. Private Housing Finance § 905 (2026).

Text

§ 905. Periodic review of contract performance; renegotiation and\ntermination of contract.

1.The division shall, by regulation as\nhereinafter provided, provide for formal evaluation of the performance\nof a company to determine its progress in achieving the objectives\noutlined in the annual neighborhood preservation plan contained in its\ncontract with the division. Such evaluation shall include a review of\nthe efforts of the company to execute each of the components of its plan\nand a consultation between the company and the division regarding the\nfindings of the division relative to performance. The division shall\nprovide or cause to be provided technical assistance determined to be\nnecessary by the division to improve the ability of the company to\nexecute each of the componen

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§ 905. Periodic review of contract performance; renegotiation and\ntermination of contract. 1. The division shall, by regulation as\nhereinafter provided, provide for formal evaluation of the performance\nof a company to determine its progress in achieving the objectives\noutlined in the annual neighborhood preservation plan contained in its\ncontract with the division. Such evaluation shall include a review of\nthe efforts of the company to execute each of the components of its plan\nand a consultation between the company and the division regarding the\nfindings of the division relative to performance. The division shall\nprovide or cause to be provided technical assistance determined to be\nnecessary by the division to improve the ability of the company to\nexecute each of the components of its plan. Such evaluation and\ndetermination of the need for technical assistance shall consider the\nfinancial and staff resources of the company for the period evaluated\nand any special considerations which may have had an impact on\nperformance during the period.\n 2. If the division determines that a company has not made sufficient\nprogress toward achieving the objectives of its annual neighborhood\npreservation plan the division shall conduct a site visit to review\nthese findings and, if warranted, shall place the company on probation.\n 3. The division shall terminate or not renew or not extend a contract\nin accordance with provisions of subdivision six of section nine hundred\nthree of this article if the commissioner determines that the\nperformance of a company is not sufficient to merit continued\nparticipation in the program.\n 4. Notwithstanding the foregoing, the commissioner may terminate any\ncontract upon a finding of substantial non-compliance or other\nsubstantial breach of the contract.\n