N.Y. Comp. Codes R. & Regs. tit. 9 § 165-3.10

Current through Register Vol. 46, No. 25, June 18, 2024

Section 165-3.10 - Specific agreement requirements-facility rehabilitation grants

(a) Where a not-for-profit corporation is the recipient of a facility rehabilitation grant the agreement shall also provide that:

(1) the not-for-profit corporation shall be required to repay project costs, other than costs necessary for the creation of a reserve fund, if the facility which is the subject of an award ceases to be used as a youth center during the period specified in the agreement and shall submit a plan to the division specifying a method for repayment of such project costs prior to approval of the agreement;

(2) the not-for-profit corporation which is the recipient of an award shall hold title to the facility which is the subject of the award and operate the program or programs as specified in its application; and

(3) the division shall be notified immediately of tax liens or planned financial or organizational restructuring of the not-for-profit corporation including but not limited to a change of name, merger or bankruptcy.

(b) Where the recipient of a facility rehabilitation grant is a municipality, the agreement shall provide that, in the event that the municipality discontinues use of the facility financed by the award as a youth center during the period specified in the agreement, the project costs shall become due and owing to the State and shall be payable from any amounts of State aid to which the municipality would be entitled.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 165-3.10