N.Y. Facilities Development Corporation Act § 8-A

Current through 2024 NY Law Chapter 456
Section 8-A - Provisions relating to agreements with certain non-profit corporations
1.The corporation is authorized to enter into an agreement, at the request of the commissioner of health, with corporations which are eligible borrowers as defined in article 28-B of the public health law providing for such services and such compensation as shall be approved by the commissioner of health incident to an application for a mortgage loan pursuant to the provisions of article 28-B of the public health law. As a condition prerequisite to any such agreement, the commissioner of health shall have certified as to the public need for the proposed facility.
2.The corporation is authorized to enter into an agreement, with the approval of the commissioner of health, with a non-profit corporation organized under the laws of this state providing for the services of the corporation to be made available to such non-profit corporation incident to the design and construction of a facility or facilities included within the meaning of the word "hospital", as defined in article twenty-eight of the public health law, to be financed by means other than pursuant to article 28-B of such law. Such agreement shall provide that all such services and expenses of the corporation with respect to such facility or facilities shall be at the sole cost and expense of such non-profit corporation. As a prerequisite to any such agreement the commissioner of health shall have certified as to the public need for the proposed facility or facilities.

N.Y. Facilities Development Corporation Act Law § 8-A