§ 903. Contracts with neighborhood preservation companies. 1. The\ncommissioner may enter into contracts with neighborhood preservation\ncompanies for the performance of neighborhood preservation activities.\nSuch contracts shall be entered into, however, only after appropriate\nfindings by the commissioner and shall be subject to the limitations\nhereinafter set forth.\n 2. Prior to entering into a contract with a neighborhood preservation\ncompany, the commissioner shall have made a finding that the\nneighborhood in which the activities are proposed to be conducted\ncontains a significant amount of deteriorating or substandard housing\nwhich is not being adequately repaired, renovated, upgraded, modernized\nor rehabilitated under existing programs so as to provide sound housing\nat costs which the residents of such neighborhoods can afford; that the\nneighborhood preservation company which proposes to contract with the\ncommissioner is a bona fide organization which shall have been in\nexistence either as a corporation or as an unincorporated, organized\ngroup and performing significant neighborhood preservation activities\nfor at least one full year prior to entering into any contract with the\ncommissioner and which shall have demonstrated by its immediate past and\ncurrent activities that it has the ability to preserve, repair,\nmaintain, renovate, rehabilitate, manage or operate housing\naccommodations or to engage in other neighborhood preservation\nactivities in such neighborhood; that the neighborhood preservation\nactivities which are to be performed pursuant to the proposed contract\nare needed by the neighborhood; and that the neighborhood preservation\ncompany possesses or will acquire or gain access to the requisite staff,\noffice facilities within such neighborhood, equipment and expertise to\nenable it to perform the activities which it proposes to undertake\npursuant to such contract; provided, however, that merged companies'\noffice facilities may be located outside such neighborhood if they are\nlocated in a municipality wholly contained within the merged companies'\nneighborhood, and provided further, however, that it shall not be a bar\nto the commissioner's contracting with a neighborhood preservation\ncompany that one or more organizations, whether pursuant to contract\nwith the commissioner or not, are conducting neighborhood preservation\nactivities wholly or partially within the same neighborhood.\n 3. In determining to enter into a contract with a neighborhood\npreservation company pursuant to this article, the commissioner shall\ninvestigate, to the extent which he shall deem necessary or appropriate,\nand determine;\n (a) that the geographic boundaries proposed by the applicant for such\na contract define a recognized or established neighborhood or area\nwithin the municipality;\n (b) that the demographic and other relevant data pertaining to such\nneighborhood indicate that the neighborhood has sustained physical\ndeterioration, decay, neglect or disinvestment, that a substantial\nproportion of the residential population that the neighborhood\npreservation company proposes to assist through its activities is of low\nincome and that such neighborhood is in need of active intervention to\neffect its preservation, stabilization or improvement;\n (c) that the activities proposed to be conducted by the neighborhood\npreservation company are reasonably calculated to have a positive effect\non the preservation, stabilization or improvement of the neighborhood;\n (d) that the neighborhood preservation company's officers, directors\nand members are fairly representative of the residents and other\nlegitimate interests of the neighborhood, that they will carry out such\na contract in a responsible manner and that at least thirty-three\npercent of the directors of the neighborhood preservation company are\nresidents of the neighborhood;\n (f) that the fees received or proposed to be received by the\nn
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