§ 1003. Contracts with not-for-profit corporations for housing\npreservation and community renewal activities. 1. The commissioner may\nenter into contracts with corporations incorporated pursuant to the\nnot-for-profit corporation law (or such law together with any other\napplicable law) for the performance of housing preservation and\ncommunity renewal activities within a region, subject to the provisions\nof this article.\n 2. Prior to entering into a contract with a corporation, the\ncommissioner shall have made a finding that the region in which the\nactivities are proposed to be conducted contains a significant amount of\ndeteriorating or substandard housing which is not being adequately\nrepaired, renovated, upgraded, modernized or rehabilitated under\nexisting programs so as to provide sound housing at costs which the\nresidents of such region can afford; that the corporation which proposes\nto contract with the commissioner is a bona fide organization which\nshall have been in existence either as a corporation or as an\nunincorporated, organized group and performing significant housing\npreservation and community renewal activities for at least one full year\nprior to entering into any contract with the commissioner and which\nshall have demonstrated by its immediate past and current activities\nthat it has the ability to preserve, repair, maintain, renovate,\nrehabilitate, manage or operate housing accommodations or to engage in\nother housing preservation and community renewal activities in such\nregion; that the housing preservation and community renewal activities\nwhich are to be performed pursuant to the proposed contract are needed\nby the region; and that the corporation possesses or will acquire or\ngain access to the requisite staff, office facilities with direct access\nto such region, equipment and expertise to enable it to perform the\nactivities which it proposes to undertake pursuant to such contract;\nprovided, however, that merged corporations' office facilities may be\nlocated outside such region if they are located in a municipality wholly\ncontained within the merged corporations' region, and provided further,\nhowever, that it shall not be a bar to the commissioner's contracting\nwith a corporation that one or more other organizations, are conducting\nhousing preservation and community renewal activities wholly or\npartially within the same region whether or not pursuant to contract\nwith the commissioner.\n 3. The commissioner may enter into a contract pursuant to this section\nonly if he determines:\n (a) that the region proposed to be served by the applicant is an\nappropriate portion of the rural area of the state for the performance\nof activities pursuant to this article by a corporation;\n (b) that such region contains significant unmet housing needs of\npersons of low income, that a substantial portion of its population\nconsists of such persons, and that the housing stock in the region,\nbecause of its age, deterioration, or other factors, requires\nimprovement in order to preserve the communities within the region;\n (c) that the particular activities to be performed by the corporation\nwill meet one or more needs of the region and are reasonably calculated\nto have a positive effect on regional preservation, stabilization or\nimprovement;\n (d) that the corporation's officers, directors and members are fairly\nrepresentative of the residents and other legitimate interests of the\nregion, that they may be expected to carry out the contract in a\nresponsible manner, and that a majority of the directors of the\ncorporation are residents of the region;\n (f) that any fees received or proposed to be received by the\ncorporation in connection with its activities pursuant to the contract\nare fair and reasonable;\n (g) that the corporation will, to the extent possible, give preference\nin hiring to residents of the region who are unemployed or\nunderemployed;\n (h) that the corporatio
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