§ 71. Conditions precedent to state loans. 1. No loan shall be made
unless the commissioner finds that: (a) the project is in conformity
with a plan or undertaking for the clearance, replanning, reconstruction
or rehabilitation of a substandard and insanitary area or areas and for
recreational and other facilities incidental or appurtenant thereto;

(b) The municipality in which such project is to be located has
enacted or will enact zoning regulations, or other restrictions
adequately protecting the area or areas in which the project is to be
undertaken, against future uses likely to depreciate unduly the value of
such project;

(c) The estimated revenues, including any governmental grants, of the
project or part for which such loan is to be made will be sufficient to
cover all probable costs of operation and maintenance, of fixed charges
and operating and depreciation reserves;

(d) The plans and specifications conform or will conform to the
requirements of this and all other laws applicable thereto, assuring
adequate light, air, sanitation and fire protection;

(e) Adequate open spaces for recreation are provided within the
project or provision therefor has been made conveniently near the
project; stating the manner in which such spaces are provided or are
proposed to be within the project or near thereto;

(f) Adequate school facilities are near the project or provision
therefor has been made, listing such facilities;

(g) The occupants of the proposed housing accommodations will have
convenient access to probable places of employment;

(h) That an adequate number of dwelling units especially designed for
the convenience and safety of aged persons as may be defined by the
commissioner shall be provided where a survey of the community in which
the project is located indicates a need therefor, and that provision
will be made to insure that such aged persons shall have priority in the
rental thereof. Where all, or substantially all of the dwelling units in
a project have been especially designed for the convenience and safety
of aged persons, the finding required under paragraph (f) of this
subdivision need not be made.

(i) an adequate number of dwelling units especially designed for the
convenience and safety of handicapped persons as may be defined by the
commissioner shall be provided where a survey of the community in which
the project is located indicates a need therefor, that provision will be
made to insure that such handicapped persons shall have priority in the
rental thereof, and that a project is designed to facilitate
unobstructed ingress to and egress from a project.

2. Such findings shall be conclusive evidence of the facts therein
contained except upon proof of fraud or wilful misfeasance by the
commissioner.