N.Y. PVH Law § 1106-C

§ 1106-c. Request for proposals. The corporation, pursuant to a\nrequest for proposals, shall not provide grants or loans under this\narticle except to an eligible applicant which has submitted an\napplication in consultation with the eligible owner or owners, which\ncontains:\n 1. a development timetable acceptable to the corporation that shall\ninclude the projected time schedule for (a) commencement and completion\nof regulatory and review processes and approvals including procedures\nfor land use and disposition; (b) construction loan closing; and (c)\ncommencement and completion of construction. Such timetable shall also\ninclude a projected date as to when the units will be available for\noccupancy and when such units will be fully occupied and any other\ninformation the corporation deems appropriate;\n 2. a proposed operating and maintenance budget;\n 3. an estimate of the total project costs which shall include (a) the\ncosts necessary for construction or rehabilitation which shall not\nexceed a ceiling amount established by the corporation which is\nconsistent with the reasonable costs of constructing or rehabilitating\nprojects in the municipality in which the project shall be located, (b)\nthe costs necessary for working capital and a reserve fund and (c) such\nother reasonable costs necessary for the completion of such project;\n 4. evidence that the municipality within which the turnkey/enhanced\nrental project will be located is experiencing a shortage of affordable\nhousing for persons of low income and the proposed turnkey/enhanced\nrental project will contribute to reducing such shortage;\n 5. the names, addresses and business background of the principals\ninvolved, the nature of their fiduciary relationship and their financial\nrelationship, past, present and future, to the project and to each\nother;\n 6. the identity of the eligible owner if the eligible owner is not the\neligible applicant; and\n 7. such other information as the corporation may require.\n