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Administrative History
The Community Facilities Project Guarantee Fund (CFPGF) is a public benefit corporation created in 1969 (Chapter 1013) as the Youth Facilities Project Guarantee Fund to provide additional daycare facilities to children of preschool and primary school age. In 1970 its scope was expanded to include senior citizens centers.
The CFPGF guarantees loans made by the New York State housing finance agency, as well as conventional lending institutions, for the purpose of building daycare centers, both rehabilitating and residential, and community senior citizens facilities. It is overseen by a board consisting of the commissioner of social services (chair), the superintendent of banks, and director of the budget.
The Department of Social Services provides administrative coordination of the CFPGF's activities. In 1976 the legislature capped the program at the amount of existing mortgages; the board stopped meeting in 1979.
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