N.Y. Comp. Codes R. & Regs. tit. 9, § 2800.4 – Procedure.

(a) Based upon a determination of the extent of funds available, the commissioner will issue, from time to time, a notice of funding availability (NOFA). This NOFA will be published in newspapers of general circulation in the various rural regions of New York State and contain the following:
1. (1) the approximate amount of funding available; and
2. (2) the general requirements for application submission.
(b) Applications received in response to NOFA will be processed as follows:
1. (1) Applications received on or before the deadline for submission will be reviewed for completeness. All incomplete applications and any applications received after the deadline will be returned to the applicants.
2. (2) Applications held for further review will be evaluated taking into consideration FmHA processing as well as the criteria specified in section 2800.3 of this Part.
3. (3) Based upon DHCR's evaluation, each application will be assigned a priority for funding.
4. (4) To the extent funds are available, the commissioner will select those applications with the highest priorities and issue to the appropriate applicants conditional commitments specifying the number of units by household type and amount of subsidy reserved for that project.
5. (5) Applicants with lesser priority will be held in a pipeline and will be considered for future funding if and when additional fundings become available. The applicants will be notified of their status and any conditions regarding future consideration.
(c) Projects selected pursuant to subdivision (b) of this section for funding will be issued a notification of award of rental assistance. Notifications of award of rental assistance are conditional upon obtaining FmHA approvals in a timely manner. In connection with its processing, DHCR will, to the maximum extent possible, rely on subsequent determinations made by FmHA, including but not limited to sponsor eligibility and project feasibility. The commitment made by DHCR may be rescinded upon notification by FmHA of any negative findings which prevent an application from being further considered. The sponsor shall signify in writing its acceptance of rental assistance for the project and its agreement to comply with article XVII-A and these regulations, and to enter into a rental assistance contract upon completion of the project.
(d) Upon certification by FmHA of the completion, or substantial completion, of the project to the satisfaction of FmHA, the commissioner shall enter into a rental assistance contract with the sponsor.