1. The corporation shall issue and promulgate rules and regulations for the administration of this article. The rules and regulations shall include provisions concerning the eligibility of applicants for payments, grants and loans under this article; funding criteria and the funding determination process; supervision and evaluation of contracting applicants; reporting, budgeting and record-keeping requirements; provisions for modification and termination of contracts; and such other matters not inconsistent with the purposes and provisions of this article as the corporation shall deem necessary or appropriate.
Terms Used In N.Y. Private Housing Finance Law 923
- Corporation: shall mean the housing trust fund corporation established in section forty-five-a of this chapter. See N.Y. Private Housing Finance Law 921
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
2. The corporation shall provide for the review, at periodic intervals, of the performance of the not-for-profit corporations and charitable organizations receiving financial assistance pursuant to this article. Such review shall, among other things, be for the purposes of ascertaining conformity to contractual provisions, the financial integrity and efficiency of the organizations and the evaluation of the project.