Section 1285-B. Additional special powers of the corporation with respect to projects and persons

In order to effectuate the purposes of this title,  the  corporation shall have the following additional special powers; (1)
  to extend credit  and  make  loans  to  a  person  or  persons  for  the
  construction  or  acquisition of a project or for the reimbursement to a
  person or persons for  costs  incurred  in  connection  with  a  project
  completed  or  not  completed  at the time of such credit or loan, which
  credits or loans may, but need not, be secured by  mortgages,  contracts
  or  other instruments, upon such terms and conditions as the corporation
  shall determine reasonable in connection with such credits or loans, and
  (2) in the exercise of powers granted in this section in connection with
  a project for a person or persons,  to  require  the  inclusion  in  any
  contract, loan agreement or other instrument, of such provisions for the
  financing  of  such project and such other financial and other covenants
  applying to  such  person  or  persons,  as  the  corporation  may  deem
  necessary  or  desirable  and  to  do  all  things  and  to  execute all
  instruments  necessary  and  desirable  in  connection   therewith.   In
  connection   with  the  extension  of  any  such  credit  or  loan,  the
  corporation may fix and collect such fees and charges, including but not
  limited to reimbursement of all costs of financing by the corporation as
  the corporation shall determine to be  reasonable.  In  connection  with
  such  extension  of  credit  or  loan  to such person or persons for the
  construction or acquisition of a project as provided above, such  person
  or  persons  shall  submit  to  the  corporation  an application for the
  extension of credit or  loan  as  set  forth  in  the  application.  The
  corporation   may   deny  such  application  for  any  reason  it  deems
  appropriate in the public interest. The extension of any such credit  or
  loan  is  subject  to  the  ability  of  the  corporation  to secure the
  necessary financing and subject to  the  obtaining  by  such  person  or
  persons   of   certification   by   the  commissioner  of  environmental
  conservation that the project for which such credit or loan is  extended
  is  intended  to meet or exceed applicable state environmental standards
  as set forth in law, rules and regulations.