Section 65-A. Permanent housing projects for homeless families

1. Site
  identification; initial project description. For each proposed permanent
  housing project for homeless families, the city will identify a site  or
  sites for development of permanent housing for homeless families. If the
  site or sites are proposed to the board for rehabilitation, any building
  or  buildings  on  the  site  must be vacant. Prior to any action by the
  board, the city must submit to the board an initial project  description
  which  sets  forth,  to  the  extent  known,  (a)  a  detailed  physical
  description of the property and the number of eligible homeless families
  estimated to be served by the project; (b) the  tenant  population  that
  will be served by the project and how the project will address the needs
  of  these  tenants; (c) a description of other funding sources that will
  be used to develop the project, if any; (d) the  category  of  permanent
  housing  proposed  to be established; (e) a plan which provides that the
  units for eligible homeless families provided under this article will to
  the maximum extent practicable be occupied by eligible homeless families
  referred from hotels, motels or shelters that  are  regulated  by  title
  eighteen  of the official compilation of codes, rules and regulations of
  the state of New York; (f) where relevant, information  stating  whether
  the  city  intends to convey the project to a not-for-profit corporation
  or housing development fund company, and, unless  stated  otherwise,  it
  will  be  assumed  that  the  city  will  hold title to the project once
  completed;  (g)  a  proposed  development  timetable;  (h)  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;  (i)  information
  regarding  the  operation  of such project and the affordability of such
  project for eligible homeless families; and (j) such  other  information
  as  the  board  may  require. The board will also require in the project
  description  that  the  costs  associated  with  the   construction   or
  rehabilitation  of  those portions of projects that are not designed for
  occupancy by eligible homeless families are paid for  by  other  funding
  programs   or  sources,  and  that  completed  projects  must  meet  all
  applicable  city  or  state  codes  governing   such   construction   or
  rehabilitation.   With  the  approval  of  the  city,  a  not-for-profit
  corporation, housing development fund  company  or  a  person,  firm  or
  corporation  that  will  agree to limit its profits or rate of return of
  investors in accordance with a formula established or  approved  by  the
  agency,  may  submit to the board one or more sites along with a project
  description in the form prescribed above.
    2. After receipt of the initial project description  described  above,
  the  board  will review each proposed site and identify those sites that
  the  board  finds  suitable  for  construction  or  rehabilitation   for
  permanent  housing  for  eligible  homeless  families.  No  site  may be
  considered by the board unless the project proposed for  the  site  will
  carry  out  the  objectives  of the homeless families plan most recently
  submitted to the council  of  the  city  by  the  New  York  city  human
  resources administration.  In its review, the board will give preference
  to  those projects that will result in the lowest costs per unit, can be
  completed in the least amount of time, serve the greatest need for  such
  housing  and  also  provide  housing  for occupants who are not eligible
  homeless families.
    3. After it has completed its review, the board shall advise the mayor
  of the  city  of  its  recommendations  concerning  the  suitability  of
  proposed sites for development as permanent housing for the homeless. No
  project  shall  be  undertaken  by  the  agency pursuant to this article
  unless the project site has been approved by the advisory board.