§ 5. General and administrative provisions. (a) The corporation shall
provide for the review, at periodic intervals, of the performance of the
corporations receiving funding pursuant to this act under their
respective contracts with the corporation. Such reviews shall, among
other things, be for the purposes of ascertaining conformity to contract
provisions, the financial integrity and efficiency of the corporations,
and the evaluation of the project. Contracts may be terminated by the
corporation upon a finding of substantial nonperformance or other breach
by the corporation, and contracts may be modified by mutual agreement
from time to time, in the light of actual performance, new or changed
conditions, or otherwise.

(b) The corporation shall issue and promulgate rules and regulations
for the administration of this section, which rules and regulations
shall include provisions concerning requirements as to eligibility for
contracting with the corporation; the form of applications or contracts;
supervision and evaluation of contracting corporations; reporting,
budgeting and record keeping requirements; provisions for modification,
termination, extension and renewal of contracts; and such other matters
not inconsistent with the purposes and provisions of this section as the
corporation shall deem necessary, proper or appropriate.

(d) Every contract entered into pursuant to this act shall contain a
provision that in the event the property which is the subject of such
contract cease to be used as specified in the contract at any time
during the seven year period commencing with the date such contract is
executed, or in case of any other substantial violation, the corporation
may terminate the contract and may require the repayment of any moneys
previously advanced to such corporation pursuant to the terms of such
contract.

(e) The corporation shall require submission of the names, addresses
and business background of the principals involved, the nature of their
fiduciary relationship and their financial relationship, past, present
and future, to the project and to each other.

(f) Notwithstanding the provisions of any general or special law, the
director of the budget is authorized to transfer to the housing trust
fund corporation funds otherwise appropriated or reappropriated for the
purposes of the special needs housing act of 1988 to the division of
housing and community renewal for the fiscal year beginning on April
first, nineteen hundred ninety, in an amount or amounts the director of
the budget determines as necessary.