Section 1113. General and administrative provisions

1. The corporation
  shall issue and promulgate rules and regulations for the  administration
  of  this  article.  The  rules  and regulations shall include provisions
  concerning eligibility  of  grantees  for  state  financial  assistance;
  funding  criteria and the funding determination process; supervision and
  evaluation  of  the  contracting  grantees;  reporting,  budgeting   and
  recordkeeping  requirements;  provisions  for modification, termination,
  extension  and  renewal  of  contracts;  and  such  other  matters   not
  inconsistent  with  the  purposes  and provisions of this article as the
  corporation shall deem necessary, proper or appropriate. Grantees  shall
  deposit  any  funds  received  from  the  repayment of loans or interest
  received  on  loans  into  the  affordable  home  ownership  development
  account.  The  corporation may provide technical services and assistance
  or contract to provide technical services and assistance to grantees  to
  comply with the provisions and intent of this article which services and
  assistance   may  include  but  shall  not  necessarily  be  limited  to
  construction skills training, site selection,  financial  packaging  and
  engineering  and architectural services necessary for the preparation of
  proposals for entering into contracts or for the continued operation  of
  projects.
    2.  (a)  The corporation shall provide the commissioner of housing and
  community  renewal,  on  a  timely  basis,  with  the  data  and   other
  information necessary to compile the report or reports required pursuant
  to section twenty of the public housing law.
    (b)  The  corporation  shall, on or before September fifteenth in each
  year, submit a proposed budget for the operation of the corporation  for
  its  next fiscal year to the director of the budget for his review.  The
  chairman of the corporation shall also deliver a copy of such budget  to
  the  chairman  of  the  senate finance committee and the chairman of the
  assembly ways and means committee at the same time that  the  budget  is
  delivered  to  the  director of the budget. The budget shall include the
  total amount needed for corporate purposes, including the funds required
  by the corporation for its  general  and  administrative  expenses,  the
  source  of  all  funds  that the corporation expects to receive and such
  other information as the director of the budget shall require.
    3.  The  corporation  shall  require  the  submission  of  the  names,
  addresses and business background of the principals involved, the nature
  of  their fiduciary relationship and their financial relationship, past,
  present and future, to the project and to each other.