N.Y. Comp. Codes R. & Regs. tit. 21 § 4227.7

Current through Register Vol. 46, No. 50, December 11, 2024

Section 4227.7 - Application procedure

(a) Form of application. Applications for financial assistance from the corporation hereunder shall be made on forms developed by the corporation in consultation with the department. In addition to any other information deemed necessary by the corporation or the department, applications shall require all or some of the following information:

(1) information about the applicant, including history, organizational structure, size and services rendered;

(2) information about the proposed project including, without limitations, total project costs, total assistance requested, proposed uses of funds, other proposed sources of funding, and the current status of the proposed project;

(3) information about the site of the proposed project and its impact, if any, on the environment and any landmark or historic properties;

(4) a business plan, resumes of members of the board of directors, principal officers, a child care needs analysis and marketing strategy;

(5) a discussion of the need for the assistance requested and a description of the expected impact of the assistance on the applicant and the community;

(6) a complete set of financial statements for at least the three preceding fiscal years, and operating pro formas going forward three years;

(7) a list of proposed collateral, with appraisals;

(8) a budget breakdown of the sources and uses of funds to be applied to the proposed project;

(9) copies of firm commitments from other funding sources in an amount at least equal to the difference between total project costs and the amount of assistance sought from the corporation;

(10) for proposed projects involving construction or the acquisition of real estate the following documentation:

(i) a copy of the purchase option or contract of sale;

(ii) a legal description and survey of the property;

(iii) a construction-to-occupancy schedule; and

(iv) copies of the preliminary architectural drawings, scope of work, and schematics.

(b) Review of applications. Applicants for assistance hereunder shall submit their applications to the department for review and assessment. Based upon its timely review and assessment, the department shall rank the proposed projects giving priority to those which demonstrate the greatest capacity to satisfy the need for child day care services as identified by the department. In addition, the department shall take the following factors into consideration in assigning priority to the proposed projects:

(1) the need for day care services in the location of the proposed project;

(2) the potential for the proposed project to succeed as a child day care center;

(3) the qualifications of the proposed operator of the child day care center;

(4) the degree to which the proposed child day care center may satisfy all applicable legal and regulatory requirements;

(5) the degree to which the location of the proposed project is appropriate for the operation of a licensed child day care center; and

(6) such other matters as the department may determine are relevant.

N.Y. Comp. Codes R. & Regs. Tit. 21 § 4227.7