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 2171 - Project Close-out
Section 2171.1 - Project close-out

Project close-out will occur when all costs to be paid with grant funds have been incurred, when the last progress report has been submitted and the last home is sold to a home buyer, and no later than six months after the date for completion set forth in the grant agreement with the respective grantee, or at such other time as the corporation may establish. At such time, the grantee must submit, in accordance with the corporation's requirements, documentation of its grant disbursements and records, a certification of completion and final cost. Any cash advanced in excess of the final cost must be refunded to the corporation.