NY Gen Mun L § 859-A (2021)
2021 New York Laws GMU - General Municipal Article 18-A - Industrial Development Title 1 - Agencies, Organization and Powers 859-A - Additional Prerequisites to the Provisions of Financial Assistance.

§  859-a.  Additional  prerequisites  to  the  provisions of financial assistance. Prior to providing any financial assistance of more than one hundred thousand dollars to any project, the agency must comply with the following prerequisites:   1. The agency must adopt a resolution describing the project  and  the financial  assistance  that  the agency is contemplating with respect to such project. Such assistance shall be consistent with the  uniform  tax exemption  policy  adopted by the agency pursuant to subdivision four of section eight hundred seventy-four of this chapter,  unless  the  agency has  followed the procedures for deviation from such policy specified in paragraph (b) of such subdivision.   2. The agency must hold a public hearing with respect to  the  project and  the proposed financial assistance being contemplated by the agency. Said public hearing shall be held in a city, town or village  where  the project  proposes  to locate. At said public hearing, interested parties shall be provided reasonable opportunity, both orally and in writing, to present their views with respect to the project.   3. The agency must give at least ten days  published  notice  of  said public  hearing  and  shall,  at  the  same time, provide notice of such hearing to the chief executive officer of each affected tax jurisdiction within which the project is located. The notice of  hearing  must  state the  time  and  place  of  the  hearing,  contain  a general, functional description of the project, describe the  prospective  location  of  the project,  identify the initial owner, operator or manager of the project and generally describe the  financial  assistance  contemplated  by  the agency with respect to the project.   4.  Each agency shall develop a standard application form, which shall be used by the agency to accept requests for financial  assistance  from all  individuals,  firms,  companies,  developers  or  other entities or organizations. The standard application form shall be submitted by or on behalf of the applicant, and subscribed and affirmed under the penalties of perjury by the applicant, or on behalf of the applicant by the  chief executive  officer  or  such other individual that is duly authorized to bind the applicant, as true, accurate and complete to the best of his or her  knowledge.  The  standard  application  form  shall   include   the following,  and  may  include  such  other  supplemental  information as determined to be necessary and  appropriate  by  the  agency,  including supporting  documents  and  information  provided by or on behalf of the applicant:  (a) the name and address of the project applicant;  (b)  a  description  of  the  proposed  project  for  which  financial assistance  is  requested,  including  the  type  of  project,  proposed location and purpose of the project;  (c) the amount and  type  of  financial  assistance  being  requested, including the estimated value of each type of tax exemption sought to be claimed by reason of agency involvement in the project;  (d)  a statement that there is a likelihood that the project would not be undertaken but for the financial assistance provided  by  the  agency or,  if  the  project  could  be undertaken without financial assistance provided by the agency, a statement indicating why the project should be undertaken by the agency;  (e) an estimate of capital costs of the project, including  all  costs of  real property and equipment acquisition and building construction or reconstruction, financed from private sector sources, an estimate of the percentage of project costs financed from public sector sources, and  an estimate  of  both  the  amount  to be invested by the applicant and the amount to be borrowed to finance the project.  (f) the projected number of full time equivalent jobs  that  would  be retained  and  that  would  be  created  if  the  request  for financial assistance is granted, the projected timeframe for the creation  of  new jobs,  the  estimated  salary  and fringe benefit averages or ranges for categories  of the jobs that would be retained or created if the request for financial assistance is granted, and an estimate of  the  number  of residents  of the economic development region as established pursuant to section two hundred thirty of the economic development law or the  labor market  area  as  defined by the agency, in which the project is located that would fill such jobs. The labor market area defined by  the  agency for this purpose may include no more than six contiguous counties in the state, including the county in which the project is to be located;  (g)  a  statement to the effect that the provisions of subdivision one of section eight hundred sixty-two of this chapter will not be  violated if financial assistance is provided for the proposed project;  (h)  a  statement  that  the  owner,  occupant  or  operator receiving financial assistance is in substantial compliance with applicable local, state and federal tax, worker protection and environmental  laws,  rules and regulations; and  (i)  a  statement  acknowledging  that the submission of any knowingly false or knowingly misleading information  may  lead  to  the  immediate termination  of  any  financial  assistance  and the reimbursement of an amount equal to all or part of any tax exemptions claimed by  reason  of agency involvement in the project.   5.  Each  agency  shall  develop,  and  adopt  by  resolution, uniform criteria for the evaluation and selection for each category of  projects for  which  financial  assistance  will  be  provided. At a minimum, the criteria shall require that, for each project, the following must  occur prior to the approval of the provision of financial assistance:  (a)  an  assessment by the agency of all material information included in  connection  with  the  application  for  financial  assistance,   as necessary to afford a reasonable basis for the decision by the agency to provide financial assistance for the project;  (b)  a written cost-benefit analysis by the agency that identifies the extent to which a project  will  create  or  retain  permanent,  private sector  jobs;  the estimated value of any tax exemptions to be provided; the amount of private  sector  investment  generated  or  likely  to  be generated  by  the  proposed project; the contribution of the project to the state's renewable energy goals and emission reduction targets as set forth in the state energy plan adopted pursuant to section 6-104 of  the energy  law;  the  likelihood of accomplishing the proposed project in a timely fashion; and the  extent  to  which  the  proposed  project  will provide  additional  sources  of  revenue  for municipalities and school districts; and any other public benefits that might occur as a result of the project;  (c) a statement by the applicant that the project, as of the  date  of the  application,  is  in  substantial compliance with all provisions of this article including, but not  limited  to,  the  provisions  of  this section  and  subdivision one of section eight hundred sixty-two of this chapter; and  (d) if the project involves the removal or abandonment of  a  facility or  plant  within  the  state,  notification  by the agency to the chief executive officer or officers of the municipality or  municipalities  in which the facility or plant was located.   6.  Each  agency shall develop a uniform agency project agreement that sets forth terms and conditions under which financial  assistance  shall be  provided.  The uniform agency project agreement shall be used by the agency and no financial assistance shall be provided in the  absence  of  the execution of such an agreement. The uniform agency project agreement shall, at a minimum:  (a)  describe  the project and the financial assistance, including the amount and type, to be provided, and the agency purpose to be achieved;  (b)  require  each  project  owner,  occupant  or  operator  receiving financial  benefits  to  provide  annually  a  certified  statement  and documentation:  (i) enumerating the full time equivalent  jobs  retained and  the  full time equivalent jobs created as a result of the financial assistance, by category,  including  full  time  equivalent  independent contractors  or  employees  of  independent contractors that work at the project location, and (ii) indicating that the salary and fringe benefit averages or ranges for categories of jobs retained and jobs created that was provided in the application is still accurate and if it is not still accurate, providing a revised list of salary and fringe benefit averages or ranges for categories of jobs retained and jobs created.  (c) indicate the dates when PILOT payments are to be made and  provide an  estimate  of  the  amounts for each affected tax jurisdiction of any payments in lieu of taxes that are included as part of the  transaction, or formula or formulas by which those amounts may be calculated. In lieu of  providing such information, a copy of an executed payment in lieu of tax agreement that contains the same information may be attached to  the uniform agency project agreement;  (e)   provide  for  the  suspension  or  discontinuance  of  financial assistance, or for the modification  of  any  payment  in  lieu  of  tax agreement  to  require  increased  payments, in accordance with policies developed by the agency pursuant to section eight  hundred  seventy-four of this title;  (f)  provide  for  the  return  of  all  or  a  part  of the financial assistance provided for the project, including all or part of the amount of any tax exemptions, which shall be redistributed to  the  appropriate affected  tax jurisdiction, as provided for in policies developed by the agency pursuant to section eight hundred  seventy-four  of  this  title, unless   agreed  to  otherwise  by  any  local  taxing  jurisdiction  or jurisdictions; and  (g) provide that the owner, occupant or operator  receiving  financial assistance  shall  certify,  under  penalty  of  perjury,  that it is in substantial compliance with all local, state  and  federal  tax,  worker protection and environmental laws, rules and regulations.