N.Y. COM Law § 197-C — New York Code / Act COM / Article 7-A / Section 197-C
General powers and duties of the board
Status: in_force

§ 197-c. General powers and duties of the board. 1. The board shall\nestablish written procedures relating to the activities of the board.\nThe board shall also establish procedures through written policies or\nstandards for reviewing applications for fund benefits and which shall\nprovide for a review of applications for fund benefits no less\nfrequently than twice each year. The board shall not make any\nrecommendations for an allocation of fund benefits prior to establishing\nthe procedures provided for in this subdivision.\n  2. The board, or a member designated by the board, shall receive all\napplications from, or on behalf of, eligible applicants for fund\nbenefits. Applications shall be in a form and contain such information,\ndata and exhibits as the board may prescribe and to which the authority\nhas consented.\n  3. The board may request from the authority an analysis of any\napplication for fund benefits along with any recommendations, and any\nsuch additional information and assistance as is reasonably necessary\nfor the board to perform its duties.\n  4. The board shall review applications submitted for fund benefits.\nThe board shall make an initial determination of whether the application\nis made by an eligible applicant and proposes an eligible project. In\nthe case of an application by an eligible applicant that proposes an\neligible project, the board shall review the application using the\nfollowing criteria:\n  (i) whether the eligible project would occur in the absence of an\naward of fund benefits;\n  (ii) the extent to which an award of fund benefits will result in new\ncapital investment in the state by the eligible applicant and the extent\nof such investment;\n  (iii) other assistance the eligible applicant may receive to support\nthe eligible project;\n  (iv) the type and cost of buildings, equipment and facilities to be\nconstructed, enlarged or installed if the eligible applicant were to\nreceive an award of fund benefits;\n  (v) the eligible applicant's payroll, salaries, benefits and number of\njobs at the eligible project for which an award of fund benefits is\nrequested;\n  (vi) the number of jobs that will be created or retained within St.\nLawrence county and any other parts of the state in relation to the\nrequested award of fund benefits, and the extent to which the eligible\napplicant will agree to commit to creating or retaining such jobs as a\ncondition to receiving an award of fund benefits;\n  (vii) whether the eligible applicant is at risk of closing or\ncurtailing facilities or operations in St. Lawrence county and other\nparts of the state, relocating facilities or operations out of St.\nLawrence county and other parts of the state, or losing a significant\nnumber of jobs in St. Lawrence county and other parts of the state, in\nthe absence of an award of fund benefits;\n  (viii) the significance of the eligible project that would receive an\naward of fund benefits to the economy of the area in which such eligible\nproject is located; and\n  (ix) for new, expanded and/or rehabilitated facilities, the extent to\nwhich the eligible applicant will commit to implement or otherwise make\ntangible investments in energy efficiency measures as a condition to\nreceiving an award of fund benefits.\n  In addition, the board shall consider the extent to which an award of\nfund benefits would be consistent with the strategies and priorities of\nany regional economic development council having responsibility for the\nregion in which the eligible project would be located. The board is also\nauthorized to solicit the views of organizations that have an interest\nin economic development in St. Lawrence county regarding such matters as\nproposed funding strategies and priorities, and applications for fund\nbenefits.\n  5. The board shall issue a written statement of its findings and\nrecommendations for each application reviewed.\n  6. The board may recommend to the authority the allocation of fund\nbenefits to eligible applicants for eligible projects which the board\nfinds are consistent with the applicable criteria in subdivision four of\nthis section. The board may include within its recommendations\nrecommended terms and conditions, 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.\n  7. A recommendation by the board that an eligible applicant receive an\naward 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 than recommended by the board. In addition, the\nauthority shall be authorized to establish the terms and conditions that\nwill apply to any award of fund benefits.\n  8. Allocations of fund benefits shall only be made on the basis of net\nearnings that have been deposited in the northern New York economic\ndevelopment fund. No award of fund benefits shall encumber future net\nearnings or net earnings that have been received but not deposited in\nthe northern New York economic development fund.\n  9. Upon making an allocation of fund benefits, the authority shall be\nauthorized to enter into an agreement with the eligible applicant which\nprovides the terms and conditions that the authority determines will be\napplicable to the award of fund benefits taking into account the\nrecommendations made by the board.\n