Statutes, codes, and regulations
New York Codes, Rules and Regulations
Title 9 - EXECUTIVE DEPARTMENTSubtitle S - Division of Housing and Community RenewalChapter III - Low Rent HousingSubchapter D - Accounting Manual For Public Housing AgenciesPart 1646 - Development Period Accounting
Subpart 1646-2 - Development Cost Budget
Section 1646-2.2 - Preparation of development cost budget

N.Y. Comp. Codes R. & Regs. tit. 9 § 1646-2.2

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Current through Register Vol. 46, No. 25, June 18, 2024
Section 1646-2.2 - Preparation of development cost budget

The specimen form of Development Cost Budget (form DH-512) is shown as Exhibits 1 and 2 of Appendix S-11. Each development cost budget shall be supported by a development cost budget justification which may, in the case of a preliminary budget, be submitted separately from the application for financial assistance. The division will be glad to render assistance in the preparation of development cost budgets. The instructions in this Subchapter are confined, primarily, to the relations of the budgets to the reports, schedules and forms described herein. The following comments are intended for purposes of clarification:

(a) The heading of the budget should indicate whether the budget is a preliminary, final, or bond sale budget.
(b) Date prepared refers to the date that the budget has been prepared by the local agency and is used to further identify the budget. The date prepared need not necessarily be the same as the date of the loan contract or of the application for financial assistance or amendments thereto.
(c) Loan contract dated refers to the date of the execution of the loan contract and not to the date of the commissioner's approval thereof. The date of execution of the loan contract will ordinarily be found in the very first paragraph of the contract.
(d) As amended to similarly refers to the date of execution of the most recent amendment, if any, to the loan contract.
(e) Columns (2) and (3) of the form are reserved for such analysis of the total estimated development cost as the division may require. For example, where slum clearance is involved, the division may require that the slum clearance costs be segregated in column (2) and other development costs in column (3). The analysis, if any, in columns (2) and (3) shall not be reflected in the books of account or in the related forms submitted to the division (see § 1646-2.3, subd. [a], below).

N.Y. Comp. Codes R. & Regs. Tit. 9 § 1646-2.2