N.Y. Private Housing Finance Law 1174 – General and administrative provisions
§ 1174. General and administrative provisions. 1. The division shall issue and promulgate rules and regulations for the administration of this article. The rules and regulations shall include provisions concerning reporting, budgeting and recordkeeping requirements; provision for modification, termination, extension and renewal of agreements; and such other matters not inconsistent with the purposes and provisions of this article as the division shall deem necessary, proper or appropriate.
Terms Used In N.Y. Private Housing Finance Law 1174
- Division: shall mean the division of housing and community renewal. See N.Y. Private Housing Finance Law 1171
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- NAHA: shall mean the national affordable housing act, 42 U. See N.Y. Private Housing Finance Law 1171
2. The division may provide appropriate technical services and assistance to applicants to comply with the provisions of this article.
3. The division shall issue a report to the temporary president of the senate and the speaker of the assembly, the chairpersons of the senate and assembly housing committees and the chairpersons of the senate finance and assembly ways and means committees on or before January first, nineteen hundred ninety-three and annually thereafter with respect to funds committed, contracted or disbursed pursuant to the national affordable housing act. This report shall include but not be limited to: a description of the programs/projects funded pursuant to this program; the amount of funds committed, contracted or disbursed during the previous federal fiscal year; the amount of such funds derived from bond proceeds; the number of new affordable units constructed or rehabilitated, including both rental and home ownership; the number of units created which were constructed or rehabilitated by combining NAHA funds with other state-assisted housing programs and an accounting of the amount of such state-assisted housing program funds expended; and any access to additional HOME funds made available through any federal fund reallocation. In addition such report shall indicate the status of the rules and regulations as required in subdivision one of this section, until such rules and regulations have been promulgated.
4. All state agencies, offices, departments, boards, divisions, commissions, public authorities and public benefit corporations may render such services to the division within their respective functions as may be requested by the division in order to administer the provisions of this article.