reglab/statecodes huggingface dataset:
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4209 - Regional Revolving Loan Trust Fund › Section 4209.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
(a) 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.
(b) Economic distress shall mean the level of
				economic distress characterizing a service delivery region or a portion thereof
				as determined pursuant to the economic distress criteria.
(c) Economic distress criteria shall mean the
				criteria to be established by the corporation to determine economic distress.
				In establishing such criteria, the corporation shall consider poverty rates,
				the number of persons receiving public assistance, unemployment rates, rate of
				employment decline, and such other criteria the corporation may deem
				appropriate.
(d) Economic distress
				formula shall mean the formula to be established by the corporation weighted in
				favor of service delivery regions with the greatest levels of economic distress
				for the purpose of distributing trust fund proceeds pursuant to section
				4209.3(d) of this
				Part.
(e) Eligible business shall
				mean a business that is resident in the State, independently owned and
				operated, and employs 100 or fewer persons on a full-time basis.
(f) Eligible project shall mean any project
				undertaken by an eligible business, subject to the limitations of this
				Part.
(g) Interest repayment
				account shall mean an account established by a regional corporation into which
				the regional corporation shall deposit any interest earned on loans made to
				eligible businesses.
(h) Loan fund
				account shall mean an account established by a regional corporation into which
				the regional corporation shall deposit grant monies received from the
				corporation, earnings on such monies, and any principal repayments by eligible
				businesses.
(i) Loan guarantees
				shall mean guarantees made by regional corporations to repay loans, subject to
				the provisions of this Part.
(j)
				Minority-owned business enterprise shall mean a business enterprise which is at
				least 51 percent owned by one or more minority persons and such ownership
				interest is real, substantial and continuing. The minority ownership must have
				and exercise the authority to independently control the day-to-day business
				decisions of the entity.
(k)
				Minority persons shall mean persons who are:
(1) Black;
(2) Hispanic persons of Mexican, Puerto
				Rican, Dominican, Cuban, Central or South American descent, of either Indian or
				Hispanic origin, regardless of race;
(3) Asian and Pacific Islander persons having
				origins in the Far East, Southeast Asia, the Indian subcontinent or the Pacific
				Islands; or
(4) American Indian or
				Alaskan Native persons having origins in any of the original peoples of North
				America and maintaining identifiable tribal affiliations through membership and
				participation or community identification.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4209 - Regional Revolving Loan Trust Fund › Section 4209.3 - Selection of regional corporations

Current through Register Vol. 46, No. 28, July 10, 2024
(a) No regional corporation shall be eligible
				to administer a regional revolving loan program 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 to eligible businesses through such entities as chambers
				of commerce, industry trade associations, banks, local development
				corporations, community-based organizations and industrial development
				agencies; and
(4) has established a
				loan committee composed of five or more persons experienced in commercial
				lending, or in the operation of a for-profit business, and a staff person of
				the regional office of the State Department of Economic Development.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4209 - Regional Revolving Loan Trust Fund › Section 4209.4 - Assistance

Current through Register Vol. 46, No. 28, July 10, 2024
(a) A regional
				corporation may use trust funds to provide the following types of assistance
				for eligible projects undertaken by eligible businesses:
(1) loan guarantees; and
(2) working capital loans.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4209 - Regional Revolving Loan Trust Fund › Section 4209.5 - Ineligible projects

Current through Register Vol. 46, No. 28, July 10, 2024
Regional corporations shall not provide assistance for the
				  following projects:
(a) projects that
				would result in the relocation of any business operation from one municipality
				within the State to another, except under one of the following conditions:
(1) when a business is relocating within a
				municipality with a population of at least one million, where the governing
				body of such municipality approves such relocation; or
(2) the regional corporation notifies each
				municipality from which such business operation will be relocated, and each
				municipality agrees to such relocation;
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4209 - Regional Revolving Loan Trust Fund › Section 4209.6 - Conditions for providing assistance

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				A regional corporation shall not provide any financial assistance authorized by
				this Part unless the following conditions are met:
(1) the applicant for assistance is an
				eligible business, and the project it seeks to undertake is an eligible
				project;
(2) the applicant has
				demonstrated that there is little prospect of obtaining the project financing
				requested from other public sources of funding within the service delivery
				region, including local revolving loan funds, and that there is little prospect
				of obtaining adequate project financing from private sources of capital, or in
				the case of a loan guarantee, that there is little prospect of obtaining
				project financing without the loan guarantee. Notwithstanding anything to the
				contrary in this paragraph, a regional corporation may provide assistance for
				an eligible project in conjunction with financial assistance from a local
				revolving loan fund, provided that (i) assistance from the regional corporation
				is no greater than that provided by the local revolving loan fund, and (ii) the
				financial assistance requested from the regional corporation has been requested
				from the local revolving loan fund, and rejected due to the unavailability of
				funds;
(3) the applicant has a
				minimum equity interest of at least 10 percent in the business or the
				project;
(4) there is a reasonable
				prospect of repayment;
(5) the
				project is located in the service delivery region served by the regional
				corporation;
(6) the project will
				comply with any applicable environmental rules or regulations;
(7) the applicant has certified that it will
				not discriminate against any employee or any applicant for employment because
				of race, religion, color, national origin, sex or age;
(8) a staff member or a representative of the
				regional corporation acting in an official capacity has personally visited the
				project site and/or the applicant's place of business;
(9) financial commitments for the project
				have been obtained from other public and private sources;
(10) the project demonstrates a substantial
				likelihood of providing increases in net new permanent jobs or retaining jobs
				in businesses that need such financial assistance to remain viable;
				and
(11) the applicant has agreed
				to first consider persons eligible to participate in Job Training Partnership
				Act ( 29 USC 1501 et seq.) programs. Such persons shall be referred to the
				applicant by administrative entities of service delivery areas created pursuant
				to such act or by the Job Service Division of the State Department of
				Labor.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4209 - Regional Revolving Loan Trust Fund › Section 4209.7 - Approval of eligible projects

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				Regional corporations' loan committees shall review each application by
				eligible businesses for assistance, determine the feasibility of the
				transaction proposed in the application, and shall recommend to the board of
				directors or other governing body of the regional corporation such action as
				the committee deems appropriate.
(b) The decision to approve or reject an
				application for financial assistance pursuant to the provisions of this Part
				shall be made by a majority of the directors of the regional corporation.
(1) No member of the board or other governing
				body of a regional 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 regional
				corporation shall be a party to or have any financial interest in any project
				that receives financial assistance pursuant to this Part.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4209 - Regional Revolving Loan Trust Fund › Section 4209.8 - Recordkeeping, auditing and reporting

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Each regional corporation shall maintain
				adequate books and records of its activities hereunder and shall submit
				semi-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 assistance provided;
(3) a
				description of the assisted projects;
(4) the number of jobs created or
				retained;
(5) the number of
				minority business enterprises and women business enterprises assisted, and the
				amount and type of assistance provided same;
(6) the amount of principal and interest in
				each working capital loan paid and outstanding;
(7) the amount of each loan guarantee
				outstanding; and
(8) 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 4209 - Regional Revolving Loan Trust Fund › Section 4209.9 - Fees, Interest, and Administrative Expenses

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Regional corporations shall maintain all
				interest earned on funds deposited into a loan fund account in that loan fund
				account, and shall use such funds only for the purpose of providing assistance
				to eligible projects.
(b) Regional
				corporations shall deposit all interest earned on working capital loans to
				eligible businesses into an interest repayment account. A regional corporation
				may use any interest deposited into an interest repayment account for the cost
				of administering a regional revolving loan program.
(c) A regional corporation may charge
				application, commitment, and loan guarantee fees pursuant to a schedule of fees
				adopted by the regional corporation and approved by the corporation.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4210 - Small- And Medium-sized Business Assistance Program › Section 4210.1 - Purpose and general description

Current through Register Vol. 46, No. 28, July 10, 2024
The purpose of this Part is to set forth the application
				  process, determine eligibility and codify administration by the corporation for
				  the Small- and Medium-Sized Business Assistance Program authorized by the
				  Omnibus Economic Development Act of 1987, chapter 839 of the Laws of 1987. The
				  purpose of the program is to provide financial assistance to small- and
				  medium-sized businesses to facilitate the retention, promotion, development and
				  diversification of these businesses, the reduction of the costs of business and
				  production for such enterprises, the expansion of employment opportunities, the
				  expansion of existing small- and medium-sized industrial enterprises, and the
				  location in the State of additional small- and medium-sized industrial
				  enterprises. The program will also seek to establish affirmative action goals
				  for participation in projects by minorities and women.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4210 - Small- And Medium-sized Business Assistance Program › Section 4210.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
(a) 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.
(b) Industrial firm shall mean a
				manufacturing firm involved with extracting, smelting, recovering, developing,
				preparing, compounding, converting, assembling or producing, in any manner,
				minerals, raw materials, products or substances of any kind or nature, and
				shall include facilities related thereto for storage, warehousing or
				distribution, for research and development or for the discovery of new, and the
				refinement of known, substances, processes, and products.
(c) Program shall mean the Small- and
				Medium-Sized Business Assistance Program created by section 5-a of the Omnibus
				Economic Development Act of 1987, chapter 839 of the Laws of 1987.
(d) Project loans shall mean loans made to
				businesses pursuant to the program.
(e) Small- and medium-sized business
				assistance project shall mean a project designed and intended for the purpose
				of providing assistance to industrial firms that employ 500 or fewer employees
				within the State on a full-time basis.
(f) State shall mean the State of New
				York.
(g) UDC Act shall mean
				chapter 174 of the Laws of 1968, as amended.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4210 - Small- And Medium-sized Business Assistance Program › Section 4210.3 - Assistance

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Pursuant to
				section 9-a of the UDC Act, the corporation may provide, within available
				appropriations, financial assistance through project loans to small-and
				medium-sized business assistance projects as defined in section 3(6)(f) of the
				UDC Act. The proceeds of such project loans may be used to finance costs
				associated with the following activities:
(1)
				industrial development assistance to industrial firms for:
(i) renovation or rehabilitation of
				industrial plants that are economically inefficient due to the need for changes
				in design, construction, technology or production processes;
(ii) renovation or rehabilitation of existing
				facilities for reuse as an industrial facility;
(iii) acquisition of real property and
				related improvements;
(iv) new
				construction;
(v) working capital;
				or
(vi) acquisition of modern
				production technology, including machinery, equipment and computerized design
				and control systems required to improve production processes, expand existing
				or enter new markets, or to otherwise remain competitive;
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4210 - Small- And Medium-sized Business Assistance Program › Section 4210.4 - Evaluation criteria

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The
				corporation shall evaluate proposals submitted for assistance under the program
				in accordance with the following criteria:
(1) the total number of jobs expected to be
				created or retained;
(2) the ratio
				of the number of jobs (to be created or retained) to the amount of assistance
				provided by the program. In general, financing will not be approved for
				projects that anticipate a return of less than one job for every $15,000 of
				State financial assistance;
(3) the
				demonstrated need for such assistance. Rejection of requested financing from
				private sources constitutes some evidence of demonstrated need;
(4) the availability of other funding
				sources;
(5) the percentage of the
				total project cost that the corporation is being asked to finance. No project
				loan shall exceed:
(i) for industrial
				development assistance loans, 50 percent of total project costs, from all
				sources, or $750,000, whichever is less; or
(ii) for child-care facility assistance
				loans, 60 percent of total project costs, from all sources, or $250,000,
				whichever is less;
(6)
				the ability of the applicant to carry out the project in a manner consistent
				with the program;
(7) the size of
				the applicant's equity contribution. As required by the statutory findings, an
				applicant's equity contribution to a project must be at least 10 percent of the
				total project cost;
(8) the
				financial circumstances of the company involved; and
(9) the impact of the project on the local
				community.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4210 - Small- And Medium-sized Business Assistance Program › Section 4210.5 - Business terms

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Project
				loans will not be made for less than $75,000. Within statutory limitations,
				terms and security arrangements will be flexible, depending on the type of loan
				and the particular characteristics of a project. Project loans that are secured
				by fixed assets will be preferred.
(b) Written commitments from other funding
				sources necessary for completion of the project generally will be required
				before approval of the project loan by the directors of the corporation, and in
				any event before disbursement by the corporation of the project loan. Approved
				construction loans will not be funded before secure commitments for permanent
				financing have been obtained.
(c)
				Interest rates on project loan will be set at the time the corporation's
				directors approve an application. Rates and terms will reflect market
				conditions, the applicant's ability to repay and project requirements. No loan
				shall bear interest at less than three percent. 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.
(d) For certain project loans, an additional
				return to the corporation may be required, based on the borrower's projected
				performance.
(e) Project loans will
				be made for the following terms:
(1) Except
				as provided in paragraph (5) of this subdivision, loans for which the proceeds
				are used to acquire or improve real property generally will be made for a term
				not to exceed 30 years. In a coequal and coordinate mortgage situation, a UDC
				mortgage will match the term of the other mortgagee.
(2) Loans for which the proceeds are used to
				acquire machinery and equipment generally will be made for a term of from three
				to seven years or the useful life of the collateral, whichever is
				less.
(3) Construction loans will
				not exceed 24 months.
(4) Working
				capital loans will be made for one to four years.
(5) No child-care facility assistance project
				loan shall be made for a term exceeding 10 years, regardless of the form of
				collateral securing the loan.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4210 - Small- And Medium-sized Business Assistance Program › Section 4210.6 - 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 forms provided by the corporation.
(b) Program applications shall require that
				the following information, as applicable, be submitted:
(1) information about the company or
				companies involved, including history, ownership, size, primary products
				manufactured or services rendered, major customers and major assets;
(2) information about the proposed project:
				total project cost, total assistance requested, proposed uses of the loan
				funds, other proposed sources of funding, the number of jobs to be created or
				retained, and the current status of the project;
(3) information about the applicant's
				previous business activities;
(4)
				information with respect to the site of the project and the impact, if any, on
				the environment and any landmark or historic properties;
(5) a business plan, resumes of principal
				officers, a list of owners, shareholders or partners, a market analysis and
				marketing strategy;
(6) a
				description of the need for the requested funds, a specific justification of
				the loan request, a description of the expected impact of the loan on the
				company and the community, and an indication of the reason for seeking State
				assistance;
(7) a complete set of
				financial statements for at least the three preceding fiscal years, and
				operating pro formas going forward five years, and current financial statements
				for any proposed guarantors;
(8) a
				list of proposed collateral, with appraisals;
(9) a budget breakdown of the sources and
				uses of funds associated with the proposed project; and
(10) letters of commitment from other
				financing sources.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4210 - Small- And Medium-sized Business Assistance Program › Section 4210.7 - Miscellaneous

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Each recipient
				of a project loan must agree to consider, for new employment opportunities
				generated by the project, individuals eligible to participate in Federal Job
				Training Partnership Act programs.
(b) 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.
(c) To the
				extent permitted by law, full-time employees of the State of New York and any
				agency, department, authority or public benefit corporation thereof shall be
				ineligible for assistance under this program; and any industrial firm, the
				majority ownership interest of which is beneficially controlled by any such
				State employee, shall be ineligible for such assistance.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4210 - Small- And Medium-sized Business Assistance Program › Section 4210.8 - Fees

Current through Register Vol. 46, No. 28, July 10, 2024
(a) A nonrefundable
				application fee of $250 must be paid to the corporation before final review of
				an application can be completed, except the application fee will be reduced to
				$100 for projects involving financing by the corporation of less than $250,000
				or less.
(b) The corporation shall
				assess an administrative fee of up to 1.5 percent of the project loan, payable
				by the borrower at or prior to closing. The corporation may allocate the
				administrative fee to cover project-related expenses it deems appropriate. Such
				allocation may include sharing a portion of the administrative fee with a
				municipality, industrial development agency, local development corporation, or
				other not-for-profit entity that has assisted the corporation or the borrower
				in preparing or processing the application for assistance or in closing the
				project. In addition, the borrower generally will be obligated to pay for all
				expenses related to the project loan, including but not limited to expenses
				related to appraisals, surveys, title insurance 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 4211 - Regional Economic Development Partnership Program › Section 4211.1 - Purpose and types of assistance

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				These regulations set forth the framework for the administration by the New
				York State Urban Development Corporation (the Corporation) of the Regional
				Economic Development Partnership Program (together with all funds appropriated
				and reappropriated therefor, hereinafter referred to as the REDPP or the
				program) which is authorized by section 16-e of the New York State Urban
				Development Corporation Act. The REDPP is intended to provide coordinated and
				comprehensive economic development assistance tailored to the particular needs
				of eligible companies, industries and economic development regions throughout
				the State. The REDPP is further intended to promote the general welfare and
				prosperity of the State's citizens through a comprehensive effort to strengthen
				the State's economic future and to provide new economic opportunities for the
				State's citizens.
(b) The following
				types of assistance are available under the REDPP:
(1) business development project loans and
				grants;
(2) tourism destination
				project loans and grants;
(3)
				business infrastructure project loans and grants;
(4) tourism destination infrastructure
				project loans and grants;
(5)
				infrastructure investment project grants;
(6) infrastructure planning project
				grants;
(7) child care assistance
				project loans and grants;
(8)
				economic development assistance project grants;
(9) skills training project grants;
(10) revolving loan trust fund account
				grants; and
(11) regional strategic
				planning grants.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4211 - Regional Economic Development Partnership Program › Section 4211.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
Terms not otherwise defined in these regulations shall have
				  the meanings set forth below.
(a)
				Distressed area shall mean:
(1) any county
				within the State in which:
(i) 20 percent or
				more of the persons had incomes below the poverty level according to data from
				latest population census published by the United States Bureau of the Census;
				or
(ii) the average rate of
				unemployment in the two most recent calendar years was at least 20 percent
				higher than the statewide average; or
(iii) at least three of the six following
				criteria are satisfied:
(a) the average rate
				of unemployment in the two most recent calendar years was at least 10 percent
				higher than the statewide average;
(b) the rate of growth in resident employment
				over the most recent five-year period was less than 90 percent of the statewide
				average;
(c) the rate of growth in
				per capita income in the most recent five-year period was less than 90 percent
				of the statewide average;
(d) the
				per capita real property wealth, as measured by the per capita full valuation
				real property, is less than 75 percent of the statewide average;
(e) total population has declined since the
				last published population census, according to the latest estimates of the
				United States Bureau of the Census;
(f) the percentage of persons below the
				poverty level was above the statewide average according to the data from the
				last published population census; or
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4211 - Regional Economic Development Partnership Program › Section 4211.3 - Business development projects

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
Assistance available.
The corporation may make loans and
				grants, as set forth below and within available appropriations, for business
				development projects.
Business development projects
are
				projects that involve an industrial, manufacturing, commercial, research and
				development, high technology, tourism, agricultural or service company (an
				eligible company) and meet the other requirements of this section.
(1) Loans.
(i) Business development project loans shall
				not exceed one-third of the total project cost or $500,000, whichever is less
				and may be used for:
(a) working
				capital;
(b) the purchase or
				leasing of machinery and equipment;
(c) land acquisition;
(d) acquisition, renovation or construction
				of facilities; and
(e) related
				ancillary costs including, without limitation, legal expenses, appraisal costs,
				brokerage commissions, interest costs, survey expenses, architectural and
				engineering fees and site preparation and relocation expenses.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4211 - Regional Economic Development Partnership Program › Section 4211.4 - Tourism destination projects

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
Assistance available.
(1) The
				corporation may make loans and grants, as set forth below and within available
				appropriations, for tourism destination projects. A
tourism destination
				project
is a project that:
(i)
				significantly contributes to the development of a recreational, educational,
				cultural or historic location or facility that is likely to attract a
				significant number of visitors from outside the region (a tourism destination);
				and
(ii) either:
(a) involves construction of a new facility
				that will encourage investment in an area where a shortage of tourism-related
				facilities, attractions or services has deterred business growth and where the
				proposed facility would significantly increase overall business activity and
				the marketability of the location as a tourism destination; or
(b) improves an existing recreational,
				educational, or cultural or historical facility where the proposed improvement
				would significantly increase overall business activity and the marketability of
				the location as a tourism destination.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4211 - Regional Economic Development Partnership Program › Section 4211.5 - Infrastructure projects

Current through Register Vol. 46, No. 28, July 10, 2024
The corporation may make loans and grants, as set forth below
				  and within available appropriations, for: business infrastructure projects;
				  tourism destination infrastructure projects; infrastructure investment
				  projects; and infrastructure planning projects.
(a)
Business infrastructure
				projects.
(1) Assistance available.
(i) The corporation may make loans and
				grants, as set forth below and within available appropriations, for business
				infrastructure projects. A
business infrastructure project
is
				a project that consists of the construction or installation of basic systems
				and facilities on publicly or privately owned property including, without
				limitation, drainage systems, sewer systems, access roads, sidewalks, docks,
				wharves, water supply systems, demolition and site clearance, preparation and
				improvement.
(ii) Business
				infrastructure project assistance may be provided to:
(a) industrial, manufacturing, commercial,
				research and development, high technology, tourism, agricultural or service
				companies (each an eligible company);
(b) eligible local governments;
(c) industrial development agencies;
				and
(d) local, county or regional
				development corporations designated by local governments.
(iii) Program assistance to business
				infrastructure projects shall not exceed 49 percent of the total project cost
				or $750,000, whichever is less. Of the total funds provided by the corporation
				to any business infrastructure project:
(a) no
				more than 60 percent shall be in the form of a grant, if the project is located
				within an economic development zone; and
(b) no more than 50 percent shall be in the
				form of a grant, if the project is located outside of an economic development
				zone.
(iv) Business
				infrastructure assistance may be used for:
(a)
				the acquisition, renovation and construction or installation of the basic
				systems and facilities constituting the project; and
(b) related ancillary costs, including,
				without limitation, legal expenses, appraisal costs, brokerage commissions,
				interest costs, survey expenses, architectural and engineering fees and site
				preparation expenses.
(v) Business infrastructure assistance may
				not be used for:
(a) expenses incurred prior
				to the initiation of the application process for REDPP assistance; or
(b) tax or employee benefit
				arrearages.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4211 - Regional Economic Development Partnership Program › Section 4211.6 - Child care assistance projects

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				Assistance available. The corporation may make loans and grants, as set forth
				below and within available appropriations, for child care assistance projects.
				Child care assistance projects are projects for the establishment, expansion
				and development of licensed not-for-profit child day care centers which serve
				the needs of small- and medium-sized businesses, health-related businesses, and
				degree-granting institutions of higher education and which meet the other
				requirements of this section. A small- or medium-sized business is an
				industrial, service or other business, which is not a retail business or
				overnight lodging facility, which employs, on a full-time basis, 500 or fewer
				employees within the State or at the site to be serviced by the child day care
				center to receive program assistance. The amount of financial assistance
				provided by the corporation hereunder in the form of a loan or grant shall not
				exceed the respective maximums set forth below for each such type of assistance
				and the total amount of child care assistance project assistance awarded to any
				project shall not exceed the lesser of $250,000 or 85 percent of total project
				cost.
(1) Loans.
(i) The corporation may make child care
				assistance project loans to:
(a) a small- and
				medium-sized business, as defined in this subdivision, health-related business
				or degree-granting institution of higher education (including the State
				University of New York and its affiliates) that has provided, or committed to
				provide, financial assistance for the establishment, expansion and/or
				development of a licensed not-for-profit child day care center (a sponsoring
				company), or a consortium of such entities, which will contract, prior to
				receipt of the program assistance, with a not-for-profit child care provider to
				provide services at the facility to be financed. Generally, an equity
				contribution to the project by or on behalf of the sponsoring companies of at
				least 10 percent of total project cost shall be required, part of which may be
				in the form of an in-kind contribution at the corporation's discretion taking
				into consideration the nature of the applicant, the project's requirements and
				such other factors as the corporation deems appropriate;
(b) a not-for-profit child care
				provider;
(c) a not-for-profit
				corporation which will contract, prior to receipt of the program assistance,
				with a not-for-profit child care provider to provide services at the facility
				to be financed.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4211 - Regional Economic Development Partnership Program › Section 4211.8 - Economic development assistance grants

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
Assistance available.
(1) The corporation may make grants, as set
				forth below and within available appropriations, of up to $100,000 each for
				economic development assistance projects; provided, however, that for
				feasibility studies, as set forth below in paragraphs (2) and (3) of this
				subdivision, the corporation may make grants of up to $75,000.
Economic
				development assistance projects
are projects that provide business or
				economic development services to stabilize, retain or revitalize existing
				businesses and to assist small and new businesses or business sectors
				including, without limitation, the following services:
(i) analysis of industrial sectors;
(ii) productivity assistance to mature
				industries;
(iii) assistance in
				marketing and promoting regional business clusters;
(iv) export assistance;
(v) management and procurement assistance to
				small business, including minority- and women-owned businesses;
(vi) regional marketing of State economic
				development programs to areas underserved in those programs;
(vii) assistance in the training of community
				and economic development staff to assist communities to build capacity to
				engage in economic development;
(viii) assistance to expand the capacity of
				existing entities administering minority and women revolving loan funds to
				deliver services;
(ix) studies of
				the feasibility of establishing a business improvement district and for initial
				organizational costs other than costs associated with purchasing, constructing,
				or renovating facilities or purchasing equipment;
(x) the establishment and operation of
				neighborhood-based small business service centers;
(xi) industrial effectiveness or global
				export and marketing assistance, as approved by the Department of Economic
				Development;
(xii) regional
				marketing of tourism destinations (
i.e.,
recreational,
				educational, cultural or historic locations or facilities that are likely to
				attract a significant number of visitors from outside the region), including
				tourism destination areas which are primarily commercial in nature and where an
				increase in visitors to such areas will contribute to the stability and
				economic vitality of the area; and
(xiii) feasibility studies that meet the
				requirements of paragraphs (2) and (3) of this subdivision.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4211 - Regional Economic Development Partnership Program › Section 4211.9 - Revolving loan trust fund capitalization and recapitalization grants and matching grants

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				Capitalization grants.
(1) Assistance
				available. The corporation may make grants, as set forth below and within
				available appropriations, of up to $500,000 to capitalize regional revolving
				loan trust fund accounts to be established pursuant to section 16-a of the New
				York State Urban Development Corporation Act.
(2) Eligible grant recipients. Regional
				corporations meeting the criteria set forth in section 16-a of the New York
				State Urban Development Corporation Act shall be eligible for a capitalization
				grant, if the area to be served by such organization is not already being
				served by a regional revolving loan trust fund account established pursuant to
				section 16-a of the New York State Urban Development Corporation Act.
(3) Terms. A regional corporation designated
				by the corporation to administer a regional revolving loan trust fund account
				shall use account funds for the purposes set forth in section 16-a of the New
				York State Urban Development Corporation Act. Any regional revolving loan trust
				fund account established hereunder shall be established and administered in
				accordance with, and shall be fully subject to and governed by, section 16-a of
				the New York State Urban Development Corporation Act and its implementing
				regulations, Part 4209 of this Title.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4211 - Regional Economic Development Partnership Program › Section 4211.10 - Regional strategic planning

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				Assistance available.
(1) The corporation may
				make grants of up to $50,000 for the preparation or modification of regional
				strategic plans. Assistance provided by the corporation pursuant to this
				section shall be made available to one applicant per region annually, and may
				be applied to operating expenses; provided, however, that in cities with a
				population of one million or more, assistance shall be made available to no
				more than two applicants per region annually, not to exceed $100,000 in total
				assistance for regional strategic planning to such city annually.
(2) Each regional strategic plan shall
				contain:
(i) a profile of the region's
				economy, population, and resources, including:
(a) a description of the region's present
				economy and changes in progress, and major private and public
				employers;
(b) a description and
				analysis of the region's economic history and recent trends, and the principal
				reasons for decline or growth of various sectors of the economy;
(c) a description of the region's
				infrastructure, including major highway, transit, rail, air, and port
				facilities, sewerage and water facilities, gas, electric and telecommunication
				facilities, and industrial parks; an analysis of their condition and adequacy,
				and an identification of the infrastructure improvements needed to foster
				regional economic development;
(d)
				a description and analysis of the region's human resources, and the education
				and job-training resources available in the region; and
(e) a description of past regional economic
				development program efforts and initiatives operating in the region, and an
				assessment of their successes and failures;
(ii) an assessment of the region's economic
				strengths, weaknesses, and development opportunities, including:
(a) an assessment of the strengths and
				weaknesses of the business base, and of forces both within and outside the
				region, that account, in part, for economic and business conditions;
				and
(b) an evaluation of the
				specific opportunities for halting economic decline and building a stronger
				base for regional economic growth by major economic sector (manufacturing,
				services, tourism, agriculture, etc.);
(iii) a discussion of long-term and
				short-term economic development objectives for the region, addressing problems
				and opportunities previously identified, and a proposal for regional economic
				development designed to carry out these objectives.
(3) Each regional strategic plan may be
				modified, from time to time, in accordance with the provisions hereof, to
				address a particular regional economic development issue, problem, or
				need.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4211 - Regional Economic Development Partnership Program › Section 4211.11 - Application and evaluation process

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Applications for program assistance shall
				be made on or pursuant to standard application forms and in response to
				requests for proposals developed by the corporation. These forms and requests
				may require the submission of the following information, as may be appropriate
				to the nature of the project, applicant and the type of assistance requested:
(1) information about the applicant and
				companies involved, including history, ownership, size, primary products
				manufactured or services rendered, major customers, and major assets;
(2) information about the proposed project,
				including total cost, total assistance requested, proposed uses of funds, other
				proposed sources of funding, the number of jobs to be created or retained, and
				the current status of the proposed project;
(3) information about the applicant's and
				company's previous business activities;
(4) information with respect to the site of
				the proposed project and the impact, if any, on the environment and any
				landmark or historic properties;
(5) a business plan, resumes of principal
				officers, a list of owners, shareholders, or partners, a market analysis and
				marketing strategy;
(6) a
				description of the need for the requested funds, a specific justification of
				the request for assistance, a description of the expected impact of the
				assistance on the applicant, companies, and the community, and an indication of
				the reason for seeking State assistance;
(7) a complete set of financial statements
				for at least the three preceding fiscal years, and operating pro formas going
				forward three years;
(8) a list of
				proposed collateral, with appraisals;
(9) a budget breakdown of the sources and
				uses of funds associated with the proposed project;
(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 (if applicable);
(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;
(11) for proposed training projects, a
				breakdown of any on-the-job training funds to be paid to trainees;
				and
(12) such other information as
				may be relevant to the eligibility requirements and funding preferences set
				forth in this Part or otherwise reasonably requested by the
				corporation.
New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4211 - Regional Economic Development Partnership Program › Section 4211.12 - Affirmative action

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,
				  for participation in the proposed project by minority group members and women.
				  Compliance with laws prohibiting discrimination in employment on the basis of
				  age, race, creed, color, national origin, gender, sexual preference, disability
				  or marital status shall be required.