N.Y. Comp. Codes R. & Regs. tit. 14 § 521.7

Current through Register Vol. 46, No. 45, November 2, 2024

Section 521.7 - Method of payment of state aid grants

(a) Payments shall be made pursuant to an installment schedule determined by the OMH. Upon completion of the project, an audit shall be conducted by the OMH. A final payment will be made upon completion of the audit and its acceptance by the OMH and the State Comptroller.

(b) Certification that payment of any of the scheduled installments due to an applicant may be subject to inspection by OMH to determine that the work has been performed upon a project or that purchases have been made in accordance with the approved plans and specifications.

(c) OMH, in its sole discretion, may require the State aid grant funds be disbursed to third parties, held in escrow, or paid to the applicant in some other secured and protected manner to assure that the proper use is made of such loans.

N.Y. Comp. Codes R. & Regs. Tit. 14 § 521.7