9 NYCRR Part 1903 - Executive Department

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Source version current through Sep 15, 2021

All 7 displayed sections in this Part carry the same compiled date. Status and warnings stay on each section.

9 NYCRR 1903.1 - Application

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Dates and status

NYCRR title agency: Executive Department
Section status: Section source receipt
Source version current through: Sep 15, 2021

An application for an award may be made at any time.

9 NYCRR 1903.2 - Application review

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Dates and status

NYCRR title agency: Executive Department
Section status: Section source receipt
Source version current through: Sep 15, 2021

All applicants shall be sent an acknowledgment letter containing a file number, which must be used in all future correspondence.

9 NYCRR 1903.3 - Application evaluation

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Dates and status

NYCRR title agency: Executive Department
Section status: Section source receipt
Source version current through: Sep 15, 2021

(a)The corporation shall select proposals for funding from among complete applications from eligible applicants based upon its evaluation of the proposal's consistency with the purposes and policies of the act. Funding shall be awarded in general based upon the following criteria:

(1)degree of benefit to persons of low and very low income;

(2)low-income housing needs in the area proposed for rehabilitation;

(3)project financial feasibility;

(4)overall project design;

(5)administrative plan;

(6)project or program readiness;

(7)the extent to which the project takes advantage of available cost containment measures, including but not limited to project design features, construction technologies and local property tax exemption/abatement;

(8)expertise of the applicant in designing and managing housing rehabilitation; and

(9)the extent to which a Housing Trust Fund award will result in commitment of funds from other sources, including private, nonprofit and governmental sources.

(b)Preference in awarding grants and loans within each project category shall be given to cost effective and economically feasible projects which will provide housing to a substantial number of persons of very low income.

(c)The corporation shall distribute funds so as to address housing needs in all areas of the State where needs exist.

(d)Preference in awarding grants or loans shall be given to applicants who demonstrate a high degree of community involvement and cooperation between community organizations, municipalities and recipients.

(e)In order to obtain the most efficient use of the Housing Trust Fund, the corporation reserves the right to restructure the applicant's proposed terms and conditions of a payment, grant or loan and may award an amount more or less than that requested. The corporation may impose such other conditions in an award as it deems necessary and appropriate.

(f)If the corporation has recaptured funds during the term of a regulatory agreement, it reserves the right to reallocate the funds to other eligible applicants.

9 NYCRR 1903.4 - Participation by minority group members and women

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Dates and status

NYCRR title agency: Executive Department
Section status: Section source receipt
Source version current through: Sep 15, 2021

All awards of payments, grants or loans of over $100,000 shall require the eligible applicant, for projects in which bids are required, to submit for approval of the corporation a utilization plan as defined in section 310(9) of the New York State Executive Law (Executive Law) prior to the award of a payment, grant or loan.

9 NYCRR 1903.5 - Notification

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Dates and status

NYCRR title agency: Executive Department
Section status: Section source receipt
Source version current through: Sep 15, 2021

The corporation shall notify each applicant of an award of a payment, grant or loan and the terms and conditions thereof, or the rejection of the application.

9 NYCRR 1903.6 - Conditions of award

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Dates and status

NYCRR title agency: Executive Department
Section status: Section source receipt
Source version current through: Sep 15, 2021

(a)The corporation shall provide the applicant who has been awarded a payment, grant or loan a list of conditions that must be met before a regulatory agreement may be entered into.

(b)The corporation shall notify the applicant of the sufficiency of or insufficiency of the documents within 15 working days after receipt of all documents required by the list of conditions.

(c)The corporation shall enter into a regulatory agreement within 45 working days of the satisfaction of the list of conditions.

9 NYCRR 1903.7 - Disclosure requirements of eligible applicants

Later State Register activity may affect this section.

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Dates and status

NYCRR title agency: Executive Department
Section status: Section source receipt
Source version current through: Sep 15, 2021

The corporation shall require in its list of conditions that the applicant submit the names, addresses and business backgrounds of the principals involved and the nature of their fiduciary and financial relationships to the project and each other, whether past, present or future.

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