NY Econ Dev L § 197-C (2021)
2021 New York Laws COM - Economic Development Law Article 7-A - Northern New York Power Proceeds Allocation Act 197-C - General Powers and Duties of the Board.

§  197-c.  General  powers and duties of the board. 1. The board shall establish written procedures relating to the activities  of  the  board. The  board  shall  also establish procedures through written policies or standards for reviewing applications for fund benefits and  which  shall provide  for  a  review  of  applications  for  fund  benefits  no  less frequently  than  twice  each  year.  The  board  shall  not  make   any recommendations for an allocation of fund benefits prior to establishing the procedures provided for in this subdivision.   2.  The  board, or a member designated by the board, shall receive all applications from,  or  on  behalf  of,  eligible  applicants  for  fund benefits.  Applications shall be in a form and contain such information, data and exhibits as the board may prescribe and to which the  authority has consented.   3.  The  board  may  request  from  the  authority  an analysis of any application for fund benefits along with any  recommendations,  and  any such  additional  information  and assistance as is reasonably necessary for the board to perform its duties.   4. The board shall review applications submitted  for  fund  benefits. The board shall make an initial determination of whether the application is  made  by  an eligible applicant and proposes an eligible project. In the case of an application by an eligible  applicant  that  proposes  an eligible  project,  the  board  shall  review  the application using the following criteria:  (i) whether the eligible project would occur  in  the  absence  of  an award of fund benefits;  (ii)  the extent to which an award of fund benefits will result in new capital investment in the state by the eligible applicant and the extent of such investment;  (iii) other assistance the eligible applicant may receive  to  support the eligible project;  (iv)  the  type  and cost of buildings, equipment and facilities to be constructed, enlarged or installed if the  eligible  applicant  were  to receive an award of fund benefits;  (v) the eligible applicant's payroll, salaries, benefits and number of jobs  at  the  eligible  project  for which an award of fund benefits is requested;  (vi) the number of jobs that will be created or  retained  within  St. Lawrence  county  and  any  other  parts of the state in relation to the requested award of fund benefits, and the extent to which  the  eligible applicant  will  agree to commit to creating or retaining such jobs as a condition to receiving an award of fund benefits;  (vii) whether  the  eligible  applicant  is  at  risk  of  closing  or curtailing  facilities  or  operations  in St. Lawrence county and other parts of the state, relocating  facilities  or  operations  out  of  St. Lawrence  county  and  other parts of the state, or losing a significant number of jobs in St. Lawrence county and other parts of the  state,  in the absence of an award of fund benefits;  (viii)  the significance of the eligible project that would receive an award of fund benefits to the economy of the area in which such eligible project is located; and  (ix) for new, expanded and/or rehabilitated facilities, the extent  to which  the eligible applicant will commit to implement or otherwise make tangible investments in energy efficiency measures  as  a  condition  to receiving an award of fund benefits.   In  addition, the board shall consider the extent to which an award of fund benefits would be consistent with the strategies and priorities  of any  regional economic development council having responsibility for the region in which the eligible project would be located. The board is also  authorized to solicit the views of organizations that have  an  interest in economic development in St. Lawrence county regarding such matters as proposed  funding  strategies  and priorities, and applications for fund benefits.   5.  The  board  shall  issue  a  written statement of its findings and recommendations for each application reviewed.   6. The board may recommend to the authority  the  allocation  of  fund benefits  to  eligible  applicants for eligible projects which the board finds are consistent with the applicable criteria in subdivision four of this  section.  The  board  may  include  within   its   recommendations recommended  terms  and  conditions,  including,  but  not  limited  to, reasonable provision for the allocation of fund benefits  over  time  as the  eligible  applicant achieves milestones towards project completion, the partial or complete withdrawal or return of fund benefits where  the recipient  has  failed  to  achieve  or  maintain  mutually  agreed upon commitments, or such other terms  and  conditions  as  the  board  deems advisable.   7. A recommendation by the board that an eligible applicant receive an award  of  fund  benefits  shall  be  a prerequisite to an award of fund benefits by the authority. The authority shall award fund benefits to an applicant upon a recommendation of the board;  provided,  however,  that upon  a showing of good cause, the authority shall have discretion as to whether to adopt the board's recommendation, or to award benefits  in  a different  amount  than  recommended  by  the  board.  In  addition, the authority shall be authorized to establish the terms and conditions that will apply to any award of fund benefits.   8. Allocations of fund benefits shall only be made on the basis of net earnings that have been deposited in  the  northern  New  York  economic development  fund.  No  award of fund benefits shall encumber future net earnings or net earnings that have been received but  not  deposited  in the northern New York economic development fund.   9.  Upon making an allocation of fund benefits, the authority shall be authorized to enter into an agreement with the eligible applicant  which provides  the terms and conditions that the authority determines will be applicable to the  award  of  fund  benefits  taking  into  account  the recommendations made by the board.