New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter XXXV - New York State Housing Finance Agency
Subchapter B - Affordable Home Ownership Development Program
Part 2162 - Grants
Section 2162.3 - Ineligible costs
Universal Citation: 21 NY Comp Codes Rules and Regs ยง 2162.3
Current through Register Vol. 46, No. 39, September 25, 2024
Grant funds exceeding ten percent of the Total Development Cost of the project may not be applied to administrative costs incurred by an eligible applicant or grantee, nor to any other costs which are not directly related to the construction, rehabilitation or improvement of homes. In the event that homes are to be located in a mixed-use structure, then any costs associated with the nonresidential uses are ineligible costs.
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