§356D-12 Development of property; additional powers.
146 words·~1 min read·
/hi/356d-12A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§356D-12 Development of property; additional powers. Notwithstanding any other law to the contrary, whenever the bids submitted for the development or rehabilitation of any housing project authorized pursuant to this chapter exceed the amount of funds available for that project, the authority, with the approval of the governor, may disregard the bids and enter into an agreement to carry out the project, undertake the project, or participate in the project under the agreement; provided that:
(1)The total cost of the agreement and the authorityꞌs participation, if any, shall not exceed the amount of funds available for the project; and
(2)If the agreement is with a nonbidder, the scope of the project under agreement shall remain the same as that for which bids were originally requested. [L 2006, c 180, pt of §2; am L 2022, c 251, §4; am L 2025, c 89, §6]