Section 5 - General and administrative provisions(a) The corporation shall provide for the review, at periodic intervals, of the performance of the corporations receiving funding pursuant to this act under their respective contracts with the corporation. Such reviews shall, among other things, be for the purposes of ascertaining conformity to contract provisions, the financial integrity and efficiency of the corporations, and the evaluation of the project. Contracts may be terminated by the corporation upon a finding of substantial nonperformance or other breach by the corporation, and contracts may be modified by mutual agreement from time to time, in the light of actual performance, new or changed conditions, or otherwise.(b) The corporation shall issue and promulgate rules and regulations for the administration of this section, which rules and regulations shall include provisions concerning requirements as to eligibility for contracting with the corporation; the form of applications or contracts; supervision and evaluation of contracting corporations; reporting, budgeting and record keeping requirements; provisions for modification, termination, extension and renewal of contracts; and such other matters not inconsistent with the purposes and provisions of this section as the corporation shall deem necessary, proper or appropriate.(d) Every contract entered into pursuant to this act shall contain a provision that in the event the property which is the subject of such contract cease to be used as specified in the contract at any time during the seven year period commencing with the date such contract is executed, or in case of any other substantial violation, the corporation may terminate the contract and may require the repayment of any moneys previously advanced to such corporation pursuant to the terms of such contract.(e) The corporation shall require submission of the names, addresses and business background of the principals involved, the nature of their fiduciary relationship and their financial relationship, past, present and future, to the project and to each other.(f) Notwithstanding the provisions of any general or special law, the director of the budget is authorized to transfer to the housing trust fund corporation funds otherwise appropriated or reappropriated for the purposes of the special needs housing act of 1988 to the division of housing and community renewal for the fiscal year beginning on April first, nineteen hundred ninety, in an amount or amounts the director of the budget determines as necessary.N.Y. Special Needs Housing Act § 5