New York State Community Facilities Project Guarantee Fund Board Waivers 18960

New York State Community Facilities Project Guarantee Fund Board Waivers

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Overview of the Records

Repository:

New York State Archives
New York State Education Department
Cultural Education Center
Albany, NY 12230

Summary:

This series consists of waivers signed by the statutory members of the Community Facilities Project Guarantee Fund (CFPGF). The waivers state that the CFPGF's oversight board will not have an annual meeting because there are no issues that require the board's attention.

Creator:

New York (State). Community Facilities Project Guarantee Fund

Title:

Community Facilities Project Guarantee Fund Board waivers

Quantity:

0.75 cubic feet

Inclusive Dates:

1978-2003

Series Number:

18960

Arrangement

Roughly chronological.

Administrative History

The Community Facilities Project Guarantee Fund (CFPGF) is a public benefit corporation that was created in 1969 to encourage the construction of facilities for the care of children and senior citizens. The CFPGF guarantees loans made by the New York State Housing Finance Agency and other lending institutions for the purpose of building or rehabilitating day care centers, and community senior citizen facilities in neighborhoods where they are most needed. The CFPGF is overseen by a board that consists of the Commissioner of Social Services (who also serves as the Chairman), Superintendent of Banks, and Director of The Budget. Administrative functions such as budgeting and personnel are handled by the Department of Social Services. Between 1969 and 1976 the CFPGF guaranteed approximately forty projects. In 1976, the legislature capped the program at the amount of existing mortgages. Once these mortgages are payed off the CFPGF will probably cease to exist.

The board was required to meet annually by Chapter 1013 of the Laws of 1969, as amended by Chapter 1030 of the Laws of 1971, unless the required meeting was waived in writing by all of the board members either prior to, on, or subsequent to the meeting date. The board held no formal annual meetings for several years beginning approximately 1979. Chapter 222 of the Laws of 2007 repealed the corporate existence of the Fund.

Scope and Content Note

This series consists of waivers signed by the statutory members of the Community Facilities Project Guarantee Fund (CFPGF). The waivers are single-page documents simply stating that the CFPGF's oversight board will not have an annual meeting because there are no issues that require the board's attention. Definite gaps exist in the chronological sequence.