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904 - Payments to Neighborhood Preservation Companies for Neighborhood Preservation Activities.

NY Priv Hous Fin L § 904 (2019) (N/A)
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(a)(i) The total unmerged company funding shall equal the current number of unmerged company contracts multiplied by the per group award.

(ii) The unmerged company funding shall equal the per group award.

(iii) The merged company funding shall equal the funding modification multiplied by the per group award.

(b) Merged company funding shall be determined on an individual basis for each neighborhood preservation company. The following tables show the funding modification to be used:

(i) In the case of two companies merging, the following table shall be used: Years since Funding merger modification 1 200% 2 190% 3 180% 4 170% 5 160% 6 150%

(ii) In the case of three companies merging, the following table shall be used: Years since Funding merger modification 1 300% 2 290% 3 280% 4 270% 5 260% 6 250% 7 240% 8 230% 9 220% 10 210% 11 200%

(iii) In the case of four or more companies merging, the following table shall be used: Years since Funding merger modification 1 400% 2 390% 3 380% 4 370% 5 360% 6 350% 7 340% 8 330% 9 320% 10 310% 11 300% 12 290% 13 280% 14 270% 15 260% 16 250%

(c) If a neighborhood preservation company that has undergone a merger continues to renew their contract beyond the timeframes listed in the above tables, it shall have its funding determined using the last funding modification listed.

(d) The merged company savings shall be determined on an individual basis for each merged company. It shall be calculated by subtracting the amount of such company's merged company funding from the amount the merged companies would have received if they had maintained separate contracts.

(e) The per group award shall equal the total funding available minus the amount for the contract with the neighborhood preservation coalition, which shall equal the total unmerged company funding plus the sum of the merged company funding plus the sum of the merged company savings.

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904 - Payments to Neighborhood Preservation Companies for Neighborhood Preservation Activities.