Section 71. Conditions precedent to state loans

1. No loan shall be made
  unless the commissioner finds that: (a) the  project  is  in  conformity
  with a plan or undertaking for the clearance, replanning, reconstruction
  or  rehabilitation of a substandard and insanitary area or areas and for
  recreational and other facilities incidental or appurtenant thereto;
    (b) The municipality in which  such  project  is  to  be  located  has
  enacted   or  will  enact  zoning  regulations,  or  other  restrictions
  adequately protecting the area or areas in which the project  is  to  be
  undertaken, against future uses likely to depreciate unduly the value of
  such project;
    (c)  The estimated revenues, including any governmental grants, of the
  project or part for which such loan is to be made will be sufficient  to
  cover  all probable costs of operation and maintenance, of fixed charges
  and operating and depreciation reserves;
    (d) The plans and  specifications  conform  or  will  conform  to  the
  requirements  of  this  and  all other laws applicable thereto, assuring
  adequate light, air, sanitation and fire protection;
    (e) Adequate open  spaces  for  recreation  are  provided  within  the
  project  or  provision  therefor  has  been  made  conveniently near the
  project; stating the manner in which such spaces  are  provided  or  are
  proposed to be within the project or near thereto;
    (f)  Adequate  school  facilities  are  near  the project or provision
  therefor has been made, listing such facilities;
    (g) The occupants of the proposed  housing  accommodations  will  have
  convenient access to probable places of employment;
    (h)  That an adequate number of dwelling units especially designed for
  the convenience and safety of aged persons as  may  be  defined  by  the
  commissioner  shall be provided where a survey of the community in which
  the project is located indicates a need  therefor,  and  that  provision
  will be made to insure that such aged persons shall have priority in the
  rental thereof. Where all, or substantially all of the dwelling units in
  a  project  have been especially designed for the convenience and safety
  of aged persons, the  finding  required  under  paragraph  (f)  of  this
  subdivision need not be made.
    (i)  an  adequate number of dwelling units especially designed for the
  convenience and safety of handicapped persons as may be defined  by  the
  commissioner  shall be provided where a survey of the community in which
  the project is located indicates a need therefor, that provision will be
  made to insure that such handicapped persons shall have priority in  the
  rental   thereof,   and   that  a  project  is  designed  to  facilitate
  unobstructed ingress to and egress from a project.
    2. Such findings shall be conclusive evidence  of  the  facts  therein
  contained  except  upon  proof  of  fraud  or  wilful misfeasance by the
  commissioner.