1106-I - General and administrative provisions of this article.

§  1106-i.  General  and administrative provisions of this article. 1.  The corporation shall provide for the review, at periodic  intervals  at  least  annually, of the performance of eligible applicants to the extent  applicable and eligible owners under contract pursuant to this  article.  Such   review  shall,  among  other  things,  be  for  the  purposes  of  ascertaining conformity to  contractual  provisions  and  the  financial  condition of the project.    2.  The  provisions  of  section  eleven hundred three of this chapter  shall apply to this article.    3. Paragraph f of subdivision three of section eleven hundred  two  of  this  chapter  shall  apply  to  this  article. For the purposes of said  paragraph a turnkey/enhanced rental project shall  be  deemed  to  be  a  rental project.    4.  The  corporation  shall deposit any recaptured funds or funds from  the  repayment  of  loans  and  interest  received  on  loans  into  the  turnkey/enhanced housing account.    5.  Notwithstanding  any  other provision of law, payments, grants and  loans may be deposited  by  the  corporation  directly  with  a  lending  institution at or before the time of initial loan closing pursuant to an  escrow agreement satisfactory to the corporation.    6.  In  addition  to  the information contained in the report required  pursuant to section twenty of the public housing  law,  the  corporation  shall,  on  or before October first in each year, submit a report to the  governor, the temporary president of the  senate,  the  speaker  of  the  assembly  and  the minority leader of the senate and the minority leader  of the assembly which shall include (i) the name of the  eligible  owner  of  the turnkey/enhanced housing trust fund project if such owner is not  also the eligible applicant; (ii) the  actual  development  schedule  to  date  for  each  project;  and  (iii)  a list of the number of units per  project that upon initial occupancy were occupied by  homeless  families  who  previously resided in hotels, motels or shelters that are regulated  under title eighteen of the official compilation  of  codes,  rules  and  regulations  of the state of New York, and a list of names and locations  of such hotels, motels or shelters.