N.Y. COM Law § 189-C — New York Code / Act COM / Article 6-A / Section 189-C
General powers and duties of the board
Status: in_force

§ 189-c. General powers and duties of the board. 1. The board shall\nestablish procedures and guidelines relating to the activities of the\nboard.\n  2. The board shall establish procedures through written policies or\nstandards for reviewing applications for an allocation of fund benefits\nthat shall include a review of applications no less frequently than\ntwice each year. The board, or a member designated by the board, shall\nreceive all applications from, or on behalf of, eligible applicants for\nfund benefits. Applications shall be in a form and contain such\ninformation, data and exhibits as the board, in consultation with the\nauthority, may prescribe.\n  3. The board may request from the authority an analysis of any\napplication along with any recommendations. In addition, the authority\nshall supply any such additional information as is reasonably necessary\nfor the board to perform its duties.\n  4. In reviewing applications for fund benefits, the board shall use\nthe criteria for eligibility for expansion, replacement and preservation\npower and for revitalization of industry as provided in section one\nthousand five of the public authorities law. In addition, the board\nshall consider the extent to which an award of fund benefits is\nconsistent with any regional economic development council strategies and\npriorities having responsibility for the region in which the eligible\nproject is located. The board shall issue a written statement of its\nfindings and recommendations for each application reviewed.\n  5. The board shall recommend to the authority the allocation of fund\nbenefits to eligible projects that the board finds are consistent with\nthe applicable criteria in subdivision four of this section. The board\nmay include within its recommendations such recommended terms and\nconditions as it deems appropriate, including, but not limited to,\nreasonable provision for the allocation of fund benefits over time as\nthe eligible applicant achieves milestones towards project completion,\nthe partial or complete withdrawal or return of fund benefits where the\nrecipient has failed to achieve or maintain mutually agreed upon\ncommitments, or such other terms and conditions as the board deems\nadvisable. The board shall not recommend an allocation of fund benefits\nprior to establishing procedures for reviewing applications pursuant to\nsubdivision two of this section.\n  6. A recommendation by the board that an eligible applicant receive an\nallocation of fund benefits shall be a prerequisite to an award of fund\nbenefits by the authority. The authority shall award fund benefits to an\napplicant upon a recommendation of the board; provided, however, that\nupon a showing of good cause, the authority shall have discretion as to\nwhether to adopt the board's recommendation, or to award benefits in a\ndifferent amount or on different terms and conditions than those\ncontained in the recommendation of the board. Allocations of fund\nbenefits shall only be made on the basis of net earnings that have been\ndeposited in the western New York economic development fund. No award of\nfund benefits shall encumber future net earnings or net earnings that\nhave been received but not deposited in the western New York economic\ndevelopment fund.\n  7. Upon making an allocation of fund benefits, the authority shall\ninclude within the agreement providing for the terms and conditions\napplicable to such allocation all terms and conditions the authority\ndeems appropriate, taking into account the recommendations made by the\nboard.\n