New York Codes, Rules and Regulations
Chapter XX - Youth Facilities Project Guarantee Fund
Part 1001 - General Requirements Relating To Applications For Guarantee Of A Loan
Section 1001.1 - Applications

Current through Register Vol. 44, No. 38, September 21, 2022

(a) An application to the Youth Facilities Project Guarantee Fund for the guarantee of a loan for the construction, reconstruction, rehabilitation or improvement of a day care center shall be in writing on application forms provided by the bureau of youth facilities construction in the New York State Department of Social Services. An original application and three copies of the application shall be filed with the fund through the said bureau of youth facilities construction.

(b) Applications to the fund shall contain information and data with reference to:

(1) The public need for the existence of the proposed day care center at the time and place and under the circumstances proposed.

(2) The character, experience, competency and standing in the community of incorporators, directors, sponsors and officers.

(3) The financial resources and sources of future revenue of the day care center to be operated by or on behalf of the applicant.

(4) The fitness and adequacy of the premises and equipment to be used by the applicant.

(5) The fitness and adequacy of the personnel to be employed in the operation of the day care center.

(6) The policies proposed to be followed by the applicant in the operation of the day care center.

(7) The name and address of the lending agency and a statement of the terms of the proposed loan.

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