The Community Facilities Project Guarantee Fund (CFPGF) is a public benefit corporation that was created in 1969 to encourage the construction of facilities for the care of children and senior citizens. The CFPGF guarantees loans made by the New York State Housing Finance Agency and other lending institutions for the purpose of building or rehabilitating day care centers, and community senior citizen facilities in neighborhoods where they are most needed. The CFPGF is overseen by a board that consists of the Comissioner of Social Services (who also serves as the Chairman), Superintendent of Banks, and Director of The Budget. Administrative functions such as budgeting and personnel are handled by the Department of Social Services. Between 1969 and 1976 the CFPGF guaranteed approximately forty projects. In 1976, the legislature capped the program at the amount of existing mortgages. Once these mortgages are payed off the CFPGF will probably cease to exist.
From the description of Board waivers, 1983-1992. (New York State Archives). WorldCat record id: 81022357
