2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 11 - Troy Industrial Development Authority › 1951 - Definitions.

§  1951.  Definitions.  As used or referred to in this title, unless a
different meaning clearly appears from the context:
1. The term "authority" shall mean  the  Troy  Industrial  Development
Authority, the corporation created by section nineteen hundred fifty-two
of this title;
2. The term "board" shall mean the members of the authority;
3. The term "city" shall mean the city of Troy;
4.  The term "bonds" shall mean the bonds, notes, interim certificates
and other  obligations  or  evidences  of  indebtedness  issued  by  the
authority pursuant to this title;
5.  The term "project" shall mean any land in one or more areas of the
city and any building, structure, facility or other improvement thereon,
including, but not limited to machinery and equipment and all  real  and
personal  property  deemed necessary in connection therewith, whether or
not now in existence or under construction, which shall be necessary  or
suitable   for   manufacturing,  warehousing,  research,  commercial  or
industrial  purposes  and  which  may  include  or  mean  an  industrial
pollution control facility.
6. The term "project occupant" shall mean the industrial manufacturing
or  commercial enterprise which proposes to use a project, as defined in
subdivision five of this section, undertaken by the authority.
7. The term "revenues" shall mean any revenues, rents, fees  or  other
charges derived by or on behalf of the authority from any project.
8. The term "state" shall mean the state of New York.
9.  The  term  "industrial  pollution control facility" shall mean any
equipment, improvement, structure  or  facility  or  any  land  and  any
building,  structure,  facility  or  other  improvement  thereon, or any
combination thereof, and all real and personal property deemed necessary
therewith, which are not of a  character  or  nature  then  or  formerly
furnished  or supplied by the city, having to do with or the end purpose
of which is the control, abatement or prevention of land, sewer,  water,
air,   noise  or  general  environmental  pollution  deriving  from  the
operation of  industrial,  manufacturing,  warehousing,  commercial  and
research  facilities,  including,  but  not limited to any air pollution
control facility, noise abatement facility, water  management  facility,
waste  water  collecting  system,  waste  water  treatment works, sewage
treatment works system, sewage treatment system or solid waste  disposal
facility or site.
11.  "Financial assistance" shall mean the proceeds of bonds issued by
the authority, straight-leases, or exemptions from taxation claimed by a
project occupant as a result of the authority taking  title,  possession
or control (by lease, license or otherwise) to the property or equipment
of  such project occupant or of such project occupant acting as an agent
of the authority.
12. "Straight-lease transaction" shall mean a transaction in which the
authority takes title, possession  or  control  (by  lease,  license  or
otherwise) to the property or equipment of a project occupant, entitling
such  property  or equipment to be exempt from taxation according to the
provisions of section nineteen hundred sixty-three of this title, and no
financial assistance in the form of the proceeds of bonds issued by  the
authority is provided to the project occupant.
13.  "Affected tax jurisdiction" shall mean any municipality or school
district, in which a project is located, which will fail to receive real
property tax payments, or other tax payments which  would  otherwise  be
due,  except  for  the  tax exempt status of the authority involved in a
project.
14. "Payments in lieu of taxes" shall mean  any  payment  made  to  an
agency, or affected tax jurisdiction, equal to the amount, or a portion,

of  real property taxes, or other taxes, which would have been levied by
or on behalf of an affected tax jurisdiction if the project was not  tax
exempt by reason of authority involvement.
15.  "Highly  distressed  area"  means (a) a census tract or tracts or
block numbering areas or areas or such census tract or  block  numbering
area  contiguous thereto which, according to the most recent census data
available, has:
(i) a poverty rate of at least twenty percent for the  year  to  which
the  data  relates  or  at  least twenty percent of households receiving
public assistance; and
(ii) an unemployment  rate  of  at  least  1.25  times  the  statewide
unemployment rate for the year to which the data relates; or
(b) a city, town, village or county within a city with a population of
one  million or more for which: (i) the ratio of the full value property
wealth, as determined by the comptroller for the year  nineteen  hundred
ninety, per resident to the statewide average full value property wealth
per resident; and (ii) the ratio of the income per resident; as shown in
the  nineteen  hundred ninety census to the statewide average income per
resident; are each fifty-five percent or less of the statewide  average;
or
(c)  an  area  which was designated an empire zone pursuant to article
eighteen-B of the general municipal law.