§201G-13 Development of property; additional powers. [Section effective until June 30, 2006. For section effective July 1, 2006, see below.] Notwithstanding any provision to the contrary, whenever the bids submitted for any development or rehabilitation project authorized pursuant to subparts A, B, G, and H of part II exceed the amount of funds available for that project, the corporation, with the approval of the governor, may disregard the bids and enter into an agreement to carry out the project, or undertake the project or participate in the project under the agreement; provided that the total cost of the agreement and the corporation's participation, if any, shall not exceed the amount of funds available for the project; provided further that 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 1997, c 350, pt of §2; am L 1998, c 212, §9; am L 2004, c 216, §23]

§201G-13 Development of property; additional powers. [Section effective July 1, 2006. For section effective until June 30, 2006, see above.] Notwithstanding any provision to the contrary, whenever the bids submitted for any development or rehabilitation project authorized pursuant to subparts A, B, G, and H of part II exceed the amount of funds available for that project, the administration, with the approval of the governor, may disregard the bids and enter into an agreement to carry out the project, or undertake the project or participate in the project under the agreement; provided that the total cost of the agreement and the administration's participation, if any, shall not exceed the amount of funds available for the project; provided further that 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 1997, c 350, pt of §2; am L 1998, c 212, §9; am L 2004, c 216, §23; am L 2005, c 196, §26(a)]