§ 1285-b. Additional special powers of the corporation with respect to
projects and persons. In order to effectuate the purposes of this title,
the corporation shall have the following additional special powers; (1)
to extend credit and make loans to a person or persons for the
construction or acquisition of a project or for the reimbursement to a
person or persons for costs incurred in connection with a project
completed or not completed at the time of such credit or loan, which
credits or loans may, but need not, be secured by mortgages, contracts
or other instruments, upon such terms and conditions as the corporation
shall determine reasonable in connection with such credits or loans, and
(2) in the exercise of powers granted in this section in connection with
a project for a person or persons, to require the inclusion in any
contract, loan agreement or other instrument, of such provisions for the
financing of such project and such other financial and other covenants
applying to such person or persons, as the corporation may deem
necessary or desirable and to do all things and to execute all
instruments necessary and desirable in connection therewith. In
connection with the extension of any such credit or loan, the
corporation may fix and collect such fees and charges, including but not
limited to reimbursement of all costs of financing by the corporation as
the corporation shall determine to be reasonable. In connection with
such extension of credit or loan to such person or persons for the
construction or acquisition of a project as provided above, such person
or persons shall submit to the corporation an application for the
extension of credit or loan as set forth in the application. The
corporation may deny such application for any reason it deems
appropriate in the public interest. The extension of any such credit or
loan is subject to the ability of the corporation to secure the
necessary financing and subject to the obtaining by such person or
persons of certification by the commissioner of environmental
conservation that the project for which such credit or loan is extended
is intended to meet or exceed applicable state environmental standards
as set forth in law, rules and regulations.