New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4213 - Minority And Women Business Development And Revolving Loan Fund Program › Section 4213.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Affirmative
				action program shall mean a program developed by the affirmative action
				department of the corporation establishing goals for minority and women
				participation in business and employment opportunities for any given project
				receiving financial assistance from the loan fund.
(b) Appropriating legislation shall mean
				chapter 54, section 1, of the Laws of 1988; and chapter 54, section 3, of the
				Laws of 1988 reappropriating the appropriation made by chapter 839, section 29,
				of the Laws of 1987, and the appropriation made by chapter 54, section 1, of
				the Laws of 1986, as amended by chapter 54, section 3, of the Laws of 1987,
				together with all subsequent legislation appropriating or reappropriating funds
				for the program.
(c) Business
				development loan shall mean a loan for the purposes described in, and meeting
				the criteria enumerated in section
				4213.5(a) of this
				Part.
(d) Certification shall mean
				the official determination of a business enterprise as a bona fide
				Minority-Owned Business Enterprise and/or Women-Owned Business
				Enterprise.
(e) Certifying agency
				shall mean a New York State agency, department, public benefit corporation or
				public authority designated by the State Certification Director to administer
				the State certification procedure.
(f) Corporation or UDC 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) Distressed area shall mean an area
				meeting the criteria for socioeconomic distress or economic deterioration set
				forth in section
				4212.3(d) of this
				Title.
(h) Eligible banking
				organization shall mean any national bank, Federal savings and loan
				association, Federal credit union, any agency or branch of a foreign banking
				corporation licensed by the State Banking Department under the State Banking
				Law, and any organization defined as a banking organization under section 2(11)
				of the State Banking Law.
(i)
				Eligible enterprise shall mean an enterprise that is eligible for assistance
				from the loan fund and not ineligible for such assistance under the provisions
				of section
				4213.3 of this Part.
(j) Entrepreneurial assistance loan shall
				mean a loan for the purposes described in, and meeting the criteria enunciated
				in section
				4213.5(d) of this
				Part.
(k) Franchise loan shall mean
				a loan for the purposes described in, and meeting the criteria enumerated in
				section 4213.5(c) of this
				Part.
(l) Government contractor
				loan shall mean a loan for the purposes described in, and meeting the criteria
				enumerated in section
				4213.5(b) of this
				Part.
(m) Government-sponsored
				residential construction loan shall mean a loan for the purposes described in,
				and meeting the criteria enumerated in section
				4213.5(g) of this
				Part.
(n) Linked deposit loan shall
				mean a loan for the purposes described in, and meeting the criteria enumerated
				in section
				4213.5(e) of this
				Part.
(o) Loan fund shall mean the
				minority and women business development and revolving loan fund authorized and
				to be funded from the appropriations and reappropriations set forth in the
				appropriating legislation.
(p) Loan
				guarantee shall mean a guarantee for the purposes described in, and meeting the
				criteria enumerated in section
				4213.5(f) of this
				Part.
(q) Minority-Owned Business
				Enterprise (MBE) shall mean any business enterprise which is at least 51
				percent owned, or in the case of a publicly owned business, at least 51 percent
				of the common stock of which is owned, by United States citizens or permanent
				resident aliens who are minority persons, and such ownership must have and
				exercise the authority to independently control the daily or day-to-day
				decisions of the entity and must have had and exercised such authority and
				control for, generally, at least one year prior to the application
				date.
(r) Minority or minority
				person shall mean:
(1) Black persons having
				origins in any of the Black African racial groups, not of Hispanic
				origin;
(2) Hispanic persons of
				Mexican, Puerto Rican, Dominican, Cuban, Central or South American, of either
				Indian or Hispanic origin, regardless of race;
(3) Asian and Pacific Islander persons having
				origins in any of the Far East, Southeast Asia, the Indian subcontinent or the
				Pacific Islands; and
(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.