N.Y. PBH Law § 4661

* § 4661. Consumer safeguards. The applicant shall demonstrate the\nfinancial feasibility of the facility. The operator shall provide a\nstatement of the anticipated source and application of the funds used or\nto be used in the purchase or construction of the facility, including:\n 1. An estimate of the cost of purchasing or constructing and equipping\nthe facility, which includes related costs such as financing expenses,\nlegal expenses, land costs, marketing and development costs and other\nsimilar cost the provider expects to incur or become obligated for prior\nto the commencement of operations;\n 2. A description of any mortgage loan or other long-term financing\nintended to be used for the financing of the facility and the\nanticipated terms and costs of financing;\n 3. An estimate of the total amount of entrance fees to be received\nfrom or on behalf of residents at or prior to commencement of operation\nof the facility;\n 4. An estimate of the funds, if any, which are anticipated to be\nnecessary to fund start-up losses, and provide reserve funds to assure\nfull performance of the obligations of the provider under contracts for\nthe provision of continuing care;\n 5. A projection of estimated income from fees and charges other than\nentrance fees, a description of individual rates anticipated to be\ncharged, the assumptions used for calculating the estimated occupancy\nrate of the facility and the effect on the income of the facility of\ngovernment subsidies, if any, for health care services provided pursuant\nto the contracts for fee-for-service continuing care;\n 6. A projection of estimated operating expenses of the facility,\nincluding a description of the assumptions used in calculating the\nexpenses and separate allowances, if any, the replacement of equipment\nand furnishings and any anticipated major structural repairs or\nadditions;\n 7. Identification of assets pledged as collateral for any purpose;\n 8. An estimate of annual payments or principal and interest required\nby any mortgage loan or other long-term financing; and\n 9. Such other material information concerning the facility or the\noperator as required by the commissioner or as agreed upon by the\noperator and the prospective resident.\n * NB There are 2 § 4661's\n