New York Codes, Rules and Regulations
Title 14 - DEPARTMENT OF MENTAL HYGIENE
Chapter XIV - Office for People With Developmental Disabilities
Part 635 - General Quality Control and Administrative Requirements Applicable to Programs, services or Facilities Funded or Certified by the Office for People With Developmental Disabilities
Subpart 635-6 - Allowability of Capital Costs and Costs of Transactions with Related Parties
Section 635-6.5 - Costs of co-operative (see glossary, Subpart 635-99 of this Part) ownership of real estate
Current through Register Vol. 47, No. 12, March 26, 2025
(a) If an agreement to purchase membership or ownership interest in a co-operative, which agreement has been approved by OPWDD and the New York State Division of Budget, is between the provider or an individual and a party which is not a related party, allowable costs shall be the lesser of the actual purchase price or the price of a membership or ownership interest in a co-operative for real estate with similar functions in the same geographic area.
(b) If an agreement to purchase membership or ownership interest in a co-operative, which agreement has been approved by OPWDD and the New York State Division of Budget, is between the provider or an individual and a related party, allowable costs for such purchase shall be the least of:
(c) The allowable cost of purchasing membership or ownership interest in a co-operative shall be amortized over 15 years, or the term of the mortgage given by the provider or individual, whichever is greater.
