NY Econ Dev L § 435 (2021)
2021 New York Laws COM - Economic Development Law Article 21 - Start-Up Ny Program 435 - Approval of Tax-Free Ny Areas.

§  435.  Approval  of  tax-free  NY  areas.  1. The president or chief   executive officer of any state university campus, community  college  or   city  university  campus  seeking to sponsor a tax-free NY area and have   some of its eligible land specified under  subdivision  one  of  section   four  hundred  thirty-two of this article be designated as a tax-free NY   area must submit a plan to the commissioner that specifies the  land  or   space  the  campus  or  college  wants to include, describes the type of   business or businesses that may locate on that land or  in  that  space,   explains  how  those  types  of  businesses  align  with  or further the   academic mission of the campus or college and how participation by those   types of businesses in the  START-UP  NY  program  would  have  positive   community and economic benefits, and describes the process the campus or   college  will follow to select participating businesses. At least thirty   days prior to submitting such plan, the campus or college  must  provide   the  municipality  or  municipalities  in which the proposed tax-free NY   area is located, local economic  development  entities,  the  applicable   campus  or  college faculty senate, union representatives and the campus   student government with a copy of the plan. In addition, if the plan  of   the  campus  or  college  includes  land or space located outside of the   campus  boundaries,  the  campus  or  college  must  consult  with   the   municipality  or  municipalities  in which such land or space is located   prior to including such space or land in its proposed tax-free  NY  area   and  shall give preference to underutilized properties. Before approving   or rejecting the plan submitted by a state university campus,  community   college  or  city university campus, the commissioner shall consult with   the chancellor of  the  applicable  university  system  or  his  or  her   designee.2.  The president or chief executive officer of any private college or   university or of any state university campus, community college or  city   university campus seeking to sponsor a tax-free NY area and have some of   its  eligible  land  specified  under  subdivision  two  of section four   hundred thirty-two of this article be designated as a tax-free  NY  area   must  submit a plan to the commissioner that specifies the land or space   the college or university  wants  to  include,  describes  the  type  of   business  or  businesses  that may locate on that land or in that space,   explains how those  types  of  businesses  align  with  or  further  the   academic  mission  of the college or university and how participation by   those types of businesses in the START-UP NY program would have positive   community and economic benefits, and describes the process the campus or   college will follow to select participating businesses. In addition,  if   the plan of the campus or college includes land or space located outside   of  the  campus  boundaries, the campus or college must consult with the   municipality or municipalities in which such land or  space  is  located   prior  to  including such space or land in its proposed tax-free NY area   and shall notify local economic development entities.  The  commissioner   shall  forward the plan submitted under this subdivision to the START-UP   NY approval board. In evaluating such plans, the board shall examine the   merits of each proposal, including but not limited to,  compliance  with   the  provisions  of  this  article,  reasonableness  of the economic and   fiscal assumptions contained in the application and  in  any  supporting   documentation  and potential of the proposed project to create new jobs,   and, except  for  proposals  for  designation  of  eligible  land  under   paragraph  (c)  of subdivision two of section four hundred thirty-two of   this article, shall prioritize for acceptance  and  inclusion  into  the   START-UP NY program plans for tax-free NY areas in counties that contain   a  city  with  a  population  of  one hundred thousand or more without a   university center as defined  in  subdivision  seven  of  section  three   hundred  fifty  of  the  education  law  on  the  effective date of this    article. No preference shall be given based on the time of submission of   the plan, provided that any  submission  deadlines  established  by  the   board  are  met. In addition, the board shall give preference to private   colleges  or  universities  that include underutilized properties within   their proposed tax-free NY areas. The board by  a  majority  vote  shall   approve or reject each plan forwarded to it by the commissioner.3.  A  campus,  university  or  college  may  amend its approved plan,   provided that the campus, university or  college  may  not  violate  the   terms  of  any lease with a business located in the approved tax-free NY   area. In addition, if a business located in a tax-free NY area does  not   have  a lease with a campus, university or college, and such business is   terminated from the START-UP NY program pursuant  to  paragraph  (b)  of   subdivision four of section four hundred thirty-six of this article, and   subsequently  does  not  relocate  outside  of  the  tax-free NY area, a   campus, university or college may amend its approved plan to allocate an   amount of vacant land or space equal to the amount of space occupied  by   the business that is terminated. The amendment must be approved pursuant   to  the  procedures and requirements set forth in subdivision one or two   of this section, whichever is applicable.4. The START-UP NY approval board, by majority vote,  shall  designate   correctional  facilities  described  in  subdivision fourteen of section   four hundred thirty-one of this article, START-UP NY airport  facilities   described  in  subdivision fifteen of section four hundred thirty-one of   this article and up to twenty strategic  state  assets  as  tax-free  NY   areas.  Each  shall  be  affiliated with a state university campus, city   university campus, community college, or private college  or  university   and such designation shall require the support of the affiliated campus,   college  or  university.  Each  strategic  state  asset  and START-UP NY   airport facility, other than a correctional facility, may not  exceed  a   maximum  of  two  hundred  thousand square feet of vacant land or vacant   building  space  designated  as  a  tax-free  NY  area.  Designation  of   strategic state assets, correctional facilities described in subdivision   fourteen  of  section  four  hundred  thirty-one  of  this  article, and   START-UP NY airport  facilities  described  in  subdivision  fifteen  of   section  four  hundred  thirty-one  of this article as tax-free NY areas   shall not count against any square footage limitations in  section  four   hundred thirty-two of this article.5.  The  commissioner  shall  promulgate regulations to effectuate the   purposes of this section, including, but not  limited  to,  establishing   the  process for the plan submissions and approvals of tax-free NY areas   and the eligibility criteria that will be applied  in  evaluating  those   plans.