reglab/statecodes huggingface dataset:
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4215 - Minority And Women Revolving Loan Trust Fund › Section 4215.5 - Selection of administering corporations

Current through Register Vol. 46, No. 28, July 10, 2024
(a) No administering corporation shall be
				eligible for selection by the corporation to administer a minority and women
				revolving loan trust fund account unless it:
(1) represents a service delivery
				region;
(2) has available to it
				staff with sufficient expertise to analyze applications for financial
				assistance, to regularly monitor financial assistance to clients, and has made
				arrangements to provide management or technical assistance to
				clients;
(3) has an effective plan
				to market its services and to market programs provided by the corporation and
				the State Department of Economic Development to eligible businesses throughout
				its service delivery region; and
(4) has established a loan committee composed
				of six or more persons experienced in business management, commercial lending
				or in the operation of a for-profit business, at least half of whom shall be
				experienced in commercial lending, at least one-third of whom shall be minority
				persons and at least one-third of whom shall be women.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4215 - Minority And Women Revolving Loan Trust Fund › Section 4215.6 - Assistance

Current through Register Vol. 46, No. 28, July 10, 2024
Except as set forth in section
				  4215.4(c) of this
				  Part, an administering corporation may use trust fund proceeds deposited in a
				  minority and women revolving loan trust fund account to provide loans for
				  eligible projects undertaken by eligible businesses.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4215 - Minority And Women Revolving Loan Trust Fund › Section 4215.7 - Ineligible projects

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Loans
				from a minority and women revolving loan trust fund account pursuant to section
				4215.6 of this Part shall not be
				made available for the following projects:
(1) projects that would result in the
				relocation of any business operation from one county, city, town or village
				within the State to another, except under one of the following conditions:
(i) a business is relocating within a county,
				city, town or village with a population of at least one million, where the
				governing body of such county, city, town or village approves such relocation;
				or
(ii) the administering
				corporation notifies each county, city, town or village from which such
				business operation will be relocated and each county, city, town or village
				agrees to such relocation;
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4215 - Minority And Women Revolving Loan Trust Fund › Section 4215.8 - Providing assistance

Current through Register Vol. 46, No. 28, July 10, 2024
(a) An
				administering corporation shall not approve a loan unless the following
				conditions are met:
(1) the administering
				corporation has determined that the loan applicant is an eligible business,
				based upon a diligent investigation which may include, without limitation:
(i) interviews with persons holding ownership
				interests in or management positions with the loan applicant;
(ii) visits to the project site or to the
				site of the applicant's business operations; and
(iii) the review of the organizational
				documents and other books and records of the applicant, and such other
				documents as may be provided by the applicant pursuant to requests made by the
				administering corporation;
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4215 - Minority And Women Revolving Loan Trust Fund › Section 4215.9 - Approval of eligible projects

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				Each application for a loan from a minority and women revolving loan trust fund
				account shall be reviewed by the loan committee (referred to in section
				4215.5[a][4] of
				this Part) of the administering corporation in whose service delivery region
				the project lies. Such loan committee shall determine the feasibility of the
				project proposed in the application and the likelihood of repayment of the loan
				requested and shall recommend to the board of directors or other governing body
				of the administering corporation such action as the committee deems
				appropriate.
(b) The decision to
				approve or reject an application for a loan pursuant to the provisions of this
				Part shall be made by a majority of the directors of the administering
				corporation, and such decision shall be final.
(1) No member of the board or other governing
				body of an administering corporation shall participate in a decision on a
				project application when such member is a party to or has a financial interest
				in such project. Any member who cannot participate in a decision on a project
				application for such reason shall not be counted as a member of the board or
				other governing body for purposes of determining the number of members required
				for a majority vote on such application.
(2) No employee or officer of any
				administering corporation shall be a party to or have any financial interest in
				any project that receives a loan pursuant to this Part.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4215 - Minority And Women Revolving Loan Trust Fund › Section 4215.10 - Recordkeeping, auditing, and reporting

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Each administering corporation shall
				maintain adequate books and records of its activities hereunder and shall
				submit annual reports to the corporation describing the financial assistance
				provided pursuant to this Part, including:
(1) the number of projects
				assisted;
(2) the amount and type
				of each loan approved or advanced;
(3) a description of each project assisted by
				each loan;
(4) the number of jobs
				created or retained by each project;
(5) the amount of principal and interest of
				each loan outstanding;
(6) an
				itemized accounting and documentation of administrative costs incurred in
				connection with administering the financial assistance programs set forth
				hereunder, and paid for with disbursements from an administrative expense trust
				fund account; and
(7) such other
				information as the corporation may require.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4215 - Minority And Women Revolving Loan Trust Fund › Section 4215.11 - Fees and out-of-pocket costs

Current through Register Vol. 46, No. 28, July 10, 2024
An administering corporation may charge reasonable loan
				  application and loan commitment fees pursuant to a schedule of fees adopted by
				  the administering corporation and approved by the corporation and may collect
				  such out-of-pocket expenses as it may reasonably incur in connection with the
				  processing of any loan application and the closing of any loan
				  hereunder.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4216 - Urban And Community Development Program › Section 4216.1 - General

Current through Register Vol. 46, No. 28, July 10, 2024
(a) These
				regulations set forth the types of available assistance, evaluation-criteria,
				application and project process and related matters, including implementation
				and administration of the urban and community revolving loan trust fund, under
				the Urban and Community Development Program (the program). The program promotes
				economic development in the State of New York by encouraging economic and
				employment opportunities for the State's citizens and stimulating development
				of communities and urban areas.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4216 - Urban And Community Development Program › Section 4216.2 - Program assistance

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				Definitions. For the purposes of this Part:
(1) Business improvement district shall mean
				a special assessment district established pursuant to article 19-A of the
				General Municipal Law.
(2) Business
				district or central business district shall mean the central district of a
				municipality or neighborhood area traditionally used for commercial
				purposes.
(3) Commercial strip
				shall mean a predominantly commercial area traditionally used for commercial
				purposes which may not be the primary business district and which is one of
				several commercial districts in the municipality in which it is
				located.
(4) Economically
				distressed areas shall mean areas as determined by the corporation meeting
				criteria indicative of economic distress, including unemployment rate; rate of
				employment change; percentages and numbers of low income persons; per capita
				income and per capita real property wealth; such other indicators of distress
				as the corporation shall determine. Economically distressed areas may include
				cities, municipalities, block numbering areas, and census tracts.
(5) Highly distressed shall mean suffering
				from severe economic distress as determined by the corporation using criteria
				similar to those set forth in subdivision (a) of section 958 of article 18-B of
				the General Municipal Law for determining eligibility for economic development
				zone status.
(6) Not-for-profit
				corporation shall mean a corporation organized under the provisions of the
				Not-for-Profit Corporation Law.
(7)
				The act shall mean the New York State Urban Development Corporation Act chapter
				174 of the Laws of 1968 as amended.
(8) The corporation shall mean the New York
				State Urban Development Corporation.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4216 - Urban And Community Development Program › Section 4216.3 - Evaluation criteria

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The
				corporation shall evaluate applications for program assistance for conformance
				to the requirements set forth in this Part, including section
				4216.2(c) of this
				Part, and the following criteria as applicable:
(1) the financial condition of the entity
				undertaking the project, including, if applicable, its profitability or
				potential to generate profits; liquidity; ability to service debt and its
				leverage ration;
(2) management
				experience, ability and knowledge of the applicable industry or sector and the
				entity's general ability to carry out the project;
(3) satisfactory credit references;
(4) availability of adequate collateral for
				program assistance and corporate or personal guarantee, as may be
				appropriate;
(5) absence of tax
				judgments;
(6) as applicable, size
				of the applicant's equity contribution to the project (in general, an equity
				contribution of at least 10 percent of the total project cost may be required,
				except as may otherwise be provided in this Part);
(7) the economic development benefits that
				are likely to result from the project and the amount of State assistance being
				requested;
(8) the level of
				economic distress demonstrated in the community in which the project is located
				and the project's overall impact on the community;
(9) the number and nature of any jobs to be
				created and the total payroll impact of the project;
(10) the availability of other sources of
				funding, including offers of assistance from locations outside of New York
				State, and the amount of private financing being leveraged by program funds;
				and
(11) with respect to urban and
				community commercial revitalization revolving loan and guarantee funds, the
				criteria requirements of sections 4216.8 and
				4216.9 of this Part.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4216 - Urban And Community Development Program › Section 4216.4 - Application and project process

Current through Register Vol. 46, No. 28, July 10, 2024
(a) An
				applicant for program assistance shall file an application with the corporation
				on a form provided by the corporation, which will elicit information about the
				project and the applicant.
(1) With respect
				to requests for program funding, the application may request as applicable:
(i) information about the applicant,
				including its history, ownership, size, primary products or services rendered,
				major customers, its market and marketing strategy;
(ii) information about the proposed project
				including total project cost, total assistance requested, proposed uses of the
				program funds, other proposed sources for funding, the number of jobs to be
				created and other anticipated project results, how the project will be
				implemented and the current status of the project;
(iii) information with respect to the site of
				the project and the impact, if any, on the environment and any landmark or
				historic properties;
(iv) a
				description of the need for the requested funds and a specific justification
				for the request for assistance;
(v)
				a budget breakdown of the sources and uses of funds associated with the
				proposed project; and
(vi) letters
				of commitment or rejection from other financing sources.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4216 - Urban And Community Development Program › Section 4216.5 - Confidentiality

Current through Register Vol. 46, No. 28, July 10, 2024
(a) To the extent
				permitted by law, all information regarding the financial condition, marketing
				plans, manufacturing processes, production costs, customer lists, or other
				trade secrets and proprietary information of a person or entity requesting
				assistance from the corporation, which is submitted by such person or entity to
				the corporation in connection with an application for assistance, shall be
				confidential and exempt from public disclosures.
(b) To the extent permitted by law, no
				full-time employee of the State of New York or any agency, department,
				authority or public benefit corporation thereof shall be eligible to receive
				assistance under this program, nor shall any business, the majority ownership
				interest of which is beneficially controlled by any such State employee, be
				eligible for assistance under this program.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4216 - Urban And Community Development Program › Section 4216.6 - Expenses

Current through Register Vol. 46, No. 28, July 10, 2024
The applicant will be obligated to pay for expenses incurred
				  by the corporation in connection with the project, including, but not limited
				  to, expenses related to appraisals, surveys, title insurance, credit searches,
				  filing fees, public hearing expenses and other requirements deemed appropriate
				  by the corporation.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4216 - Urban And Community Development Program › Section 4216.7 - Affirmative action and nondiscrimination

Current through Register Vol. 46, No. 28, July 10, 2024
Program applications shall be reviewed by the corporation's
				  affirmative action department, which shall, in consultation with the applicant
				  and/or proposed recipient of the program assistance and any other relevant
				  involved parties, develop appropriate goals, in compliance with applicable law
				  (including section
				  2879 of
				  the Public Authorities Law, article 15-A of the Executive Law and section
				  6254[11] of the Unconsolidated Laws) and the corporation's policy, for
				  participation in the proposed project by minority group members and women.
				  Compliance with laws and the corporation's policy prohibiting discrimination in
				  employment on the basis of age, race, creed, color, national origin, gender,
				  sexual preference, disability or marital status shall be
				  required.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4216 - Urban And Community Development Program › Section 4216.8 - Commercial revitalization revolving loan trust fund-definitions

Current through Register Vol. 46, No. 28, July 10, 2024
For the purposes of this section and section
				  4216.9 of this Part, the following
				  terms shall have the following meanings:
(a) Administering corporation shall mean a
				representative administering corporation or a nonrepresentative administering
				corporation.
(b) Administrative
				costs shall mean the costs incurred by an administering corporation, following
				its selection by the corporation to administer the trust fund lending program,
				in preparing to administer and in the administering the program, including,
				without limitation, the costs of:
(1)
				preparing and printing marketing material;
(2) preparing press releases and other
				promotional material;
(3)
				developing and printing application forms;
(4) professional development and review of
				standard form loan documents;
(5)
				salaries and benefits of employees;
(6) office supplies and equipment;
				and
(7) expenses reasonably
				incurred in connection with the processing of any trust fund loan hereunder and
				for which reimbursement is not sought or obtained from a trust fund applicant
				or borrower pursuant to section
				4216.9(j) of this
				Part.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4216 - Urban And Community Development Program › Section 4216.9 - Commercial revitalization revolving loan trust fund-implementation, procedures and administration

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The
				corporation shall establish commercial district revolving loan trust fund
				accounts in such amounts as the corporation may determine.
(b) Administering corporations selected by
				the corporation in accordance with subdivision (d) of this section shall use
				funds deposited into a commercial district revolving loan trust fund account as
				set forth in subdivision (e) of this section. Such funds shall consist of:
(1) the program funds deposited by the
				corporation into the commercial district revolving loan trust fund account when
				the account is established pursuant to subdivision (a) of this
				section;
(2) repayments of the
				principal amount of trust fund loans; and
(3) interest earned by the corporation from
				the funds allocated to a particular commercial district revolving loan trust
				fund account beginning in the second year of an administering corporation's
				administration of same and thereafter.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4227 - Child Care Facilities Construction Program › Section 4227.1 - Purpose and types of assistance

Current through Register Vol. 46, No. 28, July 10, 2024
The purpose of these regulations is to set forth the
				  application process, determine eligibility and codify administration by the
				  corporation of the Child Care Facilities Construction Program (the "program",
				  as defined herein). The purpose of the program is to provide financial
				  assistance for the establishment, expansion and development of licensed,
				  not-for-profit child day care centers intended to serve the needs of low-income
				  working families, economically distressed areas or highly distressed
				  communities (as such terms are defined below). The types of assistance
				  available from the corporation shall consist of child care construction grants,
				  child care construction loan guarantees and child care construction revolving
				  loans.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4227 - Child Care Facilities Construction Program › Section 4227.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Act shall mean
				the Urban Development Corporation Act, ch. 174 of the Laws of 1968, as amended
				from time to time.
(b) Affirmative
				action program shall mean a program developed by the affirmative action
				department of the corporation establishing goals for participation by minority
				group members and women in business and employment opportunities generated by
				any project receiving financial assistance hereunder.
(c) Applicant shall mean an applicant for
				assistance hereunder submitting an application in accordance with section
				4227.7 of this Part.
(d) Application shall mean an application for
				assistance hereunder substantially in the form described in section
				4227.7 of this Part.
(e) Child care facilities construction
				project shall mean a project for the establishment, expansion and development
				of licensed, not-for-profit child day care centers intended to serve the needs
				of low-income working families, economically distressed areas or highly
				distressed communities.
(f)
				Corporation shall mean the New York State Urban Development Corporation, a
				public benefit corporation created by chapter 174 of the Laws of 1968, as
				amended.
(g) Department shall mean
				the New York State Department of Social Services.
(h) Directors shall mean the members of the
				board of directors of the corporation.
(i) Economically distressed areas shall have
				the meaning assigned to such term in section 16-d of the act.
(j) Eligible project shall mean a child care
				facilities construction project eligible for assistance from the corporation
				hereunder in accordance with the criteria set forth in section
				4227.3 of this Part.
(k) Eligible recipient shall mean a
				not-for-profit corporation.
(l)
				Highly distressed shall have the meaning assigned to such term in section 16-d
				of the act.
(m) Not-for-profit
				corporation shall mean a corporation organized under the Not-for-Profit
				Corporation Law of the State.
(n)
				Project shall mean a child care facilities construction project.
(o) State shall mean the State of New
				York.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4227 - Child Care Facilities Construction Program › Section 4227.3 - Eligible projects

Current through Register Vol. 46, No. 28, July 10, 2024
In order to be eligible for assistance from the corporation
				  hereunder as an eligible project, the proposed project must satisfy the
				  following criteria:
(a) The proposed
				project must be intended to be used as a child day care center for a period of
				at least 10 years.
(b) The proposed
				child day care center must be intended to serve the child care needs of
				low-income working families, or economically distressed areas or highly
				distressed communities.
(c) The
				applicant must demonstrate the ability to obtain all licenses and approvals for
				proposed child day care center as may be deemed to be necessary or appropriate
				by the department or, in the case of a child day care center located in the
				city of New York, as may be deemed to be necessary or appropriate by the
				commissioner of the Department of Health of the City of New York.
(d) The applicant must offer at least one
				quarter of the available day care placements at the proposed day care center to
				the department in the locality where the proposed project will be located or
				set aside those placements for persons eligible for low income day care
				subsidies.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4227 - Child Care Facilities Construction Program › Section 4227.4 - Child care construction grants

Current through Register Vol. 46, No. 28, July 10, 2024
A proposed project shall be eligible for assistance from the
				  corporation in the form of a child care construction grant, provided
				  that:
(a) Eligible project. The
				proposed project constitutes an eligible project.
(b) Eligible recipient. The applicant for
				assistance from the corporation shall be an eligible recipient.
(c) Eligible costs. The child care
				construction grant shall be used for general project development costs,
				including, but not limited to:
(1) the
				acquisition, design, construction, improvement or renovation of the
				site;
(2) the purchase of items of
				machinery and equipment necessary for the implementation of the proposed
				project; and
(3) in the case of
				interest subsidy grants, interest expense incurred by the applicant in
				connection with a loan from a private sector lending institution.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4227 - Child Care Facilities Construction Program › Section 4227.5 - Child care construction loan guarantees

Current through Register Vol. 46, No. 28, July 10, 2024
A proposed project shall be eligible for assistance from the
				  corporation in the form of a child care construction loan guarantee, provided
				  that:
(a) Eligible project. The
				proposed project constitutes an eligible project.
(b) Eligible recipient. The applicant for
				assistance from the corporation shall be an eligible recipient.
(c) Eligible costs. The loan guaranteed by
				the child care construction loan guarantee must be made by a private sector
				lending institution and shall be used only for the design, construction,
				improvement or renovation of a child day care center.
(d) Construction and permanent financing. The
				loan guaranteed by the construction loan guarantee may be used for either
				construction or permanent financing of eligible costs of an eligible
				project.
(e) Ineligible costs. The
				loan guaranteed by the child care construction loan guarantee may not be used
				to finance any expense incurred prior to the initiation of the application
				process for assistance from the corporation under the program. For an otherwise
				eligible project, however, such expenses may be taken into consideration in
				determining total project costs.
(f) Levels of funding. The maximum amount of
				assistance from the corporation in the form of a child care construction loan
				guarantee shall not exceed the following:
(1)
				eighty percent of total project costs, in the case of eligible projects located
				in highly distressed communities;
(2) sixty-five percent of total project
				costs, in the case of eligible projects located in economically distressed
				areas; and
(3) fifty percent of
				total project costs, in the case of eligible projects that are located in areas
				that are neither highly distressed nor economically distressed areas.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4227 - Child Care Facilities Construction Program › Section 4227.6 - Child care construction revolving loans

Current through Register Vol. 46, No. 28, July 10, 2024
A proposed project shall be eligible for assistance from the
				  corporation in the form of a child care construction revolving loan, provided
				  that:
(a) Eligible project. The
				proposed project constitutes an eligible project.
(b) Eligible recipient. The applicant for
				assistance from the corporation shall be an eligible recipient.
(c) Eligible costs. The child care revolving
				loan shall be used only for the design, construction, improvement or renovation
				of a child day care center.
(d)
				Construction and permanent financing. The child care revolving loan shall be
				used for either construction or permanent financing of eligible costs of an
				eligible project.
(e) Levels of
				funding. The maximum amount of assistance from the corporation in the form of a
				child care construction revolving loan shall not exceed the following:
(1) eighty percent of total project costs, in
				the case of eligible projects located in highly distressed
				communities;
(2) sixty-five percent
				of total project costs, in the case of eligible projects located in
				economically distressed areas; and
(3) fifty percent of total project costs, in
				the case of eligible projects that are located in areas that are neither highly
				distressed nor economically distressed areas.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4227 - Child Care Facilities Construction Program › Section 4227.7 - Application procedure

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Form of
				application. Applications for financial assistance from the corporation
				hereunder shall be made on forms developed by the corporation in consultation
				with the department. In addition to any other information deemed necessary by
				the corporation or the department, applications shall require all or some of
				the following information:
(1) information
				about the applicant, including history, organizational structure, size and
				services rendered;
(2) information
				about the proposed project including, without limitations, total project costs,
				total assistance requested, proposed uses of funds, other proposed sources of
				funding, and the current status of the proposed project;
(3) information about the site of the
				proposed project and its impact, if any, on the environment and any landmark or
				historic properties;
(4) a business
				plan, resumes of members of the board of directors, principal officers, a child
				care needs analysis and marketing strategy;
(5) a discussion of the need for the
				assistance requested and a description of the expected impact of the assistance
				on the applicant and the community;
(6) a complete set of financial statements
				for at least the three preceding fiscal years, and operating pro formas going
				forward three years;
(7) a list of
				proposed collateral, with appraisals;
(8) a budget breakdown of the sources and
				uses of funds to be applied to the proposed project;
(9) copies of firm commitments from other
				funding sources in an amount at least equal to the difference between total
				project costs and the amount of assistance sought from the
				corporation;
(10) for proposed
				projects involving construction or the acquisition of real estate the following
				documentation:
(i) a copy of the purchase
				option or contract of sale;
(ii) a
				legal description and survey of the property;
(iii) a construction-to-occupancy schedule;
				and
(iv) copies of the preliminary
				architectural drawings, scope of work, and schematics.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4227 - Child Care Facilities Construction Program › Section 4227.8 - Selection criteria

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Only
				eligible projects may qualify for assistance hereunder. In selecting recipients
				for assistance hereunder from among competing eligible projects, the
				corporation shall give consideration to the rank assigned to the relative
				applications by the department.
(b)
				In addition, the corporation shall take the following factors into
				consideration:
(1) the ability of the
				applicant to undertake the proposed project as evidenced by its past history
				and accomplishments and its current activities;
(2) the commitment of the applicant to the
				development of child day care centers, especially those serving the needs of
				low-income families;
(3) the need
				for a child day care center in the location for the proposed project;
				and
(4) the degree to which the
				proposed project evidences the potential for the successful operation of a
				child day care center.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4227 - Child Care Facilities Construction Program › Section 4227.9 - Coordination with other agencies

Current through Register Vol. 46, No. 28, July 10, 2024
In the implementation of this program, the corporation will
				  work closely with the department, the Job Development Authority, the Department
				  of Economic Development, child care resources and referral programs, local
				  development corporations, neighborhood preservation companies, rural
				  preservation companies and other sources offering assistance for child care in
				  the State in order to assure coordination of services.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4230 - Minority And Women-owned Business Development And Lending Program › Section 4230.1 - Purpose

Current through Register Vol. 46, No. 28, July 10, 2024
These regulations set forth the application process,
				  eligibility requirements and procedure for the administration by the
				  corporation of the minority and women-owned business development and lending
				  program authorized and to be funded from the appropriation set forth in the
				  appropriating legislation. The purpose of the program is to provide financial
				  assistance to minority and women-owned business enterprises in the State as
				  well as to projects and programs that assist the development of
				  entrepreneurship among minority persons and women in the State. To these ends,
				  the corporation is authorized to establish the following programs and to
				  provide the following forms of assistance:
(a) In order to establish a program in
				conjunction with locally, community, and regionally based entities to
				decentralize lending for small loans and loans to start up minority and
				women-owned business enterprises (the decentralized lending program), the
				corporation:
(1) may make linked deposits of
				funds into eligible banking organizations in order to encourage such
				organizations to make small loans to minority and/or women-owned business
				enterprises; and
(2) shall
				establish minority and women revolving loan trust fund accounts and related
				administrative expense trust fund accounts.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4230 - Minority And Women-owned Business Development And Lending Program › Section 4230.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Administering
				corporation.
(1) The term administering
				corporation shall mean a not-for-profit corporation made up of a representative
				group of the following types of entities:
(i)
				an economic development zone capital corporation established pursuant to
				section 964 of article 18-B of the General Municipal Law; or
(ii) an industrial development agency or
				community-based local development corporation that:
(a) serves a municipality in which an
				economic development zone is located; and
(b) was established for the primary purpose
				of assisting minority and/or women- owned business enterprises located or to be
				located in such economic development zone; or
(iii) a local or community development
				corporation, industrial development agency or other not-for-profit corporation
				that provides services to community businesses, and has as one of its primary
				purposes the provision of services and assistance to minority and women-owned
				business enterprises.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4230 - Minority And Women-owned Business Development And Lending Program › Section 4230.4 - Eligible and ineligible uses of program assistance

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Program assistance may be sought and used
				for the purposes set forth in the descriptions herein of each form of program
				assistance.
(b) Program assistance
				shall not be used for any of the following purposes:
(1) refinancing, retiring or liquidating
				existing debt or equity;
(2)
				residential construction projects, except for government-sponsored
				projects;
(3) payment of any tax
				arrearage; and
(4) payment of any
				employee benefit arrearage.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4230 - Minority And Women-owned Business Development And Lending Program › Section 4230.5 - Linked deposits

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The
				corporation may make linked deposits of funds into eligible banking
				organizations in order to encourage such organizations to make small loans to
				minority and women-owned business enterprises.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4230 - Minority And Women-owned Business Development And Lending Program › Section 4230.6 - Minority and women revolving loan trust fund

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The corporation shall establish minority
				and women revolving loan trust fund accounts in such amounts as the corporation
				may determine.
(b) Administering
				corporations selected by the corporation in accordance with subdivision (d) of
				this section shall use funds deposited into a minority and women revolving loan
				trust fund account as set forth in subdivision (e) of this section. Such funds
				shall consist of:
(1) the funds deposited by
				the corporation into the minority and women revolving loan trust account when
				the account is established pursuant to subdivision (a) of this
				section;
(2) repayments of the
				principal amount of trust fund loans; and
(3) interest earned by the corporation from
				the funds allocated to a particular minority and women revolving loan trust
				fund account beginning in the second year of an administering corporation's
				administration of same and thereafter.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4230 - Minority And Women-owned Business Development And Lending Program › Section 4230.7 - Contractor development assistance

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The corporation may, directly and through
				cooperative agreements with municipalities, authorities, agencies, and eligible
				banking organizations, provide contractor development assistance in the form
				of:
(1) government contractor loans or
				government contractor loan guarantees;
(2) government contractor technical
				assistance; and
(3) government
				contractor bonding assistance.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4230 - Minority And Women-owned Business Development And Lending Program › Section 4230.8 - Business development loans

Current through Register Vol. 46, No. 28, July 10, 2024
The corporation may provide business development loans to
				  certified minority and/or women-owned business enterprises for the acquisition
				  or improvement of real property, machinery, equipment or for working capital,
				  subject to sections
				  4230.4,
				  4230.13 and
				  4230.14 of this Part and the
				  following:
(a) an applicant for a
				business development loan must have been in the business for which financing is
				sought or a business in a related field for at least three years prior to the
				date of its application;
(b)
				preference will be given to enterprises involved in manufacturing, distribution
				or wholesaling; and
(c) each
				business development loan provided by the corporation shall not be less than
				$50,000 and generally shall not exceed $500,000.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4230 - Minority And Women-owned Business Development And Lending Program › Section 4230.9 - Franchise loans

Current through Register Vol. 46, No. 28, July 10, 2024
The corporation may provide franchise loans to certified
				  minority and/or women-owned business enterprises that seek to acquire and
				  expand franchises of nationally recognized corporations, subject to sections
				  4230.4,
				  4230.13 and
				  4230.14 of this Part and the
				  following:
(a) disbursements by the
				corporation of such loans shall be conditioned on obtaining such franchise(s);
				and
(b) the amount of any such loan
				shall not be less than $50,000 and generally shall not exceed $300,000 or an
				amount equal to twice the amount of cash equity in the project, whichever is
				less.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4230 - Minority And Women-owned Business Development And Lending Program › Section 4230.10 - Loan guarantees

Current through Register Vol. 46, No. 28, July 10, 2024
The corporation may provide government contractor loan
				  guarantees, business development loan guarantees and franchise loan guarantees
				  (individually and collectively the "loan guaranty") to eligible banking
				  organizations proposing to make loans for projects as described in sections
				  4230.7 through
				  4230.9 of this Part to enterprises
				  that qualify for such loans under said sections (except that the $500,000
				  minimum set forth in section
				  4230.8[b] shall
				  not apply to any loan secured by a business development loan guaranty), subject
				  to sections
				  4230.4,
				  4230.13 and
				  4230.14 of this Part and the
				  following:
(a) the loan guaranty shall
				be fully funded by the corporation;
(b) the loans to be guaranteed must be
				secured by an interest in collateral acceptable to the corporation;
(c) the amount of the loan guaranty shall not
				exceed 80 percent of eligible project costs as determined by the corporation in
				consultation with the eligible banking organization proposing to make the loan
				that shall be guaranteed; and
(d)
				loan guarantees shall be available to guarantee loans to enterprises receiving
				technical assistance, but shall not be available to enterprises receiving
				program assistance in the form of a direct loan from the corporation.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4230 - Minority And Women-owned Business Development And Lending Program › Section 4230.12 - Technical assistance

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Only
				eligible technical assistance recipients and eligible technical assistance
				providers proposing to provide assistance to eligible technical assistance
				recipients may apply for technical assistance from the corporation. No
				applicant that is an individual shall constitute an eligible technical
				assistance recipient or eligible technical assistance provider if he or she
				shall be an employee of the State or of any instrumentality of the State or a
				member of the immediate family of any such employee. No applicant that is an
				entity shall constitute an eligible technical assistance recipient or an
				eligible technical assistance provider if it shall be owned, controlled or
				operated by any person, partnership, corporation or other entity, a controlling
				interest of which is legally or beneficially owned by one or more employees of
				the State or of any instrumentality of the State, or by any member of the
				immediate family of any such employee.
(1) In
				order to constitute an eligible technical assistance recipient, an applicant
				must satisfy the criteria set forth in this subdivision as well as the
				following:
(i) the applicant is an individual
				or unincorporated association proposing to establish a minority or woman-owned
				business enterprise; or
(ii) the
				applicant is a minority or woman-owned business enterprise.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4230 - Minority And Women-owned Business Development And Lending Program › Section 4230.14 - Business terms

Current through Register Vol. 46, No. 28, July 10, 2024
The business terms with respect to incubator assistance in
				  the form of a loan shall be those set forth in section
				  4230.11 of this Part. The business
				  terms with respect to loans made under the trust fund lending program shall be
				  those set forth in section
				  4230.6 of this Part. The following
				  terms and conditions shall apply to government contractor loans, business
				  development loans and franchise loans:
(a) Interest rates on loans made by the
				corporation will be structured to reflect market conditions, project
				feasibility and the applicant's ability to repay. Interest rates may be
				increased during the term of the loan if the applicant fails to create and/or
				retain specified employment levels approved by the corporation.
(b) The standard term of program loans will
				be as follows:
(1) loans, the proceeds of
				which are used to acquire machinery and equipment, generally will be made for a
				term of three to seven years, depending upon the useful life of the collateral
				as determined by the corporation;
(2) the term of construction loans generally
				will not exceed 24 months; and
(3)
				loans, the proceeds of which are used to acquire or improve real property,
				generally will not be made for a term exceeding 20 years. In a co-equal or
				coordinate mortgage situation, a UDC mortgage generally will match the term of
				the other mortgage.