New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter XLII - New York State Environmental Facilities Corporation › Part 2605 - New York State Pipeline For Jobs State Revolving Fund Regulations › Section 2605.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Terms used in
				this Part or to be used in complying with this Part have the following
				meanings. Unless defined herein, terms used in this Part shall have the meaning
				set forth under section 1281 et. seq. of the Public Authorities Law.
(1) Act means the "Jobs 2000 for New York
				State (J2K) Act", created by chapter 624 of the Laws of 1999.
(2) Application means a form developed by the
				corporation and submitted by a project sponsor who has received a confirmation
				letter.
(3) Assistance from the
				fund means any financial assistance from the fund provided by the corporation
				to a recipient for an eligible project.
(4) Business means any individual, sole
				proprietorship, partnership, corporation, limited liability company or any
				other entity operating or licensed to operate in the State.
(5) Comptroller means the comptroller of the
				State.
(6) Confirmation letter
				means the letter issued by the corporation to a project sponsor indicating the
				amount of financial assistance which has been reserved for that
				project.
(7) Construction means the
				erection, building, acquisition, alteration, reconstruction, improvement,
				enlargement or extension of an eligible project; the inspection and supervision
				thereof; and the engineering, architectural, legal, fiscal, and economic
				investigations and studies, surveys, designs, plans, working drawings,
				specifications, procedures, and other actions necessary thereto.
(8) Corporation means the New York State
				Environmental Facilities Corporation.
(9) Corpus allocation means the amount of
				moneys from the fund, as determined by the corporation, allocated to provide
				earnings to reduce a recipient's total financing costs for an eligible
				project.
(10) DEC means the State
				Department of Environmental Conservation.
(11) DED means the State Department of
				Economic Development.
(12) DOH
				means the State Department of Health.
(13) Design means necessary design
				calculations and decisions and the preparation of construction drawings and
				specifications.
(14) Disbursement
				means a transfer of fund moneys to the recipient from accounts held by the
				corporation's custodian in accordance with the executed PFLA.
(15) Drinking water intended use plan (DWIUP)
				means the document published regularly by DOH and the corporation entitled
				"Final Intended Use Plan Drinking Water State Revolving Fund" pursuant to
				chapter 413 of the Laws of 1996 and the Safe Drinking Water Act (Public Law
				104-182).
(16) Drinking water state revolving fund or
				DWSRF means the New York State drinking water revolving fund, established
				pursuant to chapter 413 of the Laws of 1996.
(17) DWSRF score means the score awarded to a
				DWSRF eligible project by DOH that is included in the DWIUP.
(18) DWSRF eligible project means a project
				that is eligible for funding through the DWSRF.
(19) Eligible costs means those costs of an
				eligible project which the corporation determines are properly allocable to
				that project in accordance with applicable laws and regulations.
(20) Eligible project means a project
				intended to create, improve or extend water supply facilities, including, but
				not limited to, drinking water facilities and cold water supply facilities for
				economic development purposes on behalf of businesses, which may include
				projects that may be eligible for financing under or designed to comply with
				the requirements of the Federal safe drinking water act or other applicable
				Federal laws and State drinking water quality goals and standards.
(21) Engineering report means the document or
				documents incorporating the results of preliminary project planning and
				technical and fiscal studies to determine the technical and economic
				feasibility of the project.
(22)
				Financial assistance means any State assistance payments for the State share of
				the costs of an eligible project, or any one or more of the following:
(i) loans to recipients for construction of
				eligible projects on such terms as the corporation may determine, subject to
				any applicable provisions of Federal or State law;
(ii) buying or refinancing debt obligations
				of recipients at market or below market rates, subject to any applicable
				provisions of Federal or State law;
(iii) guarantying, or purchasing insurance or
				other credit enhancement for municipal obligations where such actions would
				improve credit, market access for or reduce interest rates on such municipal
				obligations;
(iv) providing a
				source of revenue or security for payment of principal and interest on bonds or
				notes issued by the corporation if the proceeds of the sale of such bonds will
				be deposited in the fund; or
(v)
				providing interest rate subsidies from investment earnings on corpus
				allocations to subsidize loans to recipients made from the proceeds of the
				corporation's bonds or notes.
(23) Fund means the pipeline for jobs fund
				established by chapter 624 of the Laws of 1999.
(24) Fund assistance means assistance from
				the fund.
(25) Funding period means
				the period of time during which the corporation will accept pre-applications
				from project sponsors.
(26) Funding
				period resources means the amount available to provide fund assistance within a
				funding period.
(27) Interest rate
				subsidy means, for a leveraged loan, the earnings on the corpus allocation
				credited to the recipient to reduce the recipient's total financing costs for
				an eligible project.
(28) Loan
				means financial assistance in the form of a loan made by the corporation to a
				recipient for an eligible project.
(29) Leveraged loan means financial
				assistance in the form of a loan made from moneys deposited in the fund from
				the proceeds of the corporation's bonds or notes.
(30) Municipality means any county, city,
				town, village, district corporation, county or town improvement district,
				school district, Indian nation or tribe recognized by the State or the United
				States with a reservation wholly or partly within the boundaries of the State,
				any public benefit corporation or public authority established pursuant to the
				laws of the State, any sewer authority now existing in a city, or any agency of
				New York State which is empowered to construct and operate an eligible project,
				or any two or more of the foregoing which are acting jointly in connection with
				an eligible project.
(31) Planning
				means the orderly development of a project concept from the original statement
				of need or purpose through the evaluation of alternatives to a final
				recommendation on a course of action and measures to implement the selected
				alternative.
(32) Pooled bond
				issuance means the sale of bonds or notes by the corporation to provide
				assistance to two or more recipients.
(33) Pre-application means a form developed
				by the corporation which project sponsors must complete fully in order to be
				considered for financial assistance from the fund.
(34) Program means the Pipeline for Jobs Fund
				Program created pursuant to chapter 624 of the Laws of 1999.
(35) Project completion means the later of:
(i) the date that operation of the eligible
				project is initiated or is capable of being initiated; or
(ii) the date on which all construction or
				other activities of an eligible project for which allowable costs have been
				incurred, and for which financial assistance from the fund has been provided,
				have been completed.
(36) Project financing and loan agreement
				(PFLA) means an agreement, or agreements, between the corporation and one or
				more recipients with respect to the financing of an eligible project, and
				includes all document(s) evidencing a binding commitment between the
				corporation and the recipient(s) for a specified amount of financial assistance
				from the fund. The PFLA may contain the terms of the recipient's obligation to
				make payments to the corporation in connection with the financial assistance
				provided to the recipient by the corporation.
(37) Project sponsor means any municipality,
				public utility, public benefit corporation, or person, including any
				individual, firm, partnership, association, not-for-profit corporation or other
				corporation organized and existing under the laws of the State or any other
				state which is empowered to construct and operate an eligible project, or any
				two or more of the foregoing which are acting jointly in connection with an
				eligible project and seeking a loan from the fund.
(38) Public Authorities Law (PAL) means
				chapter 43-A of the Consolidated Laws of the State entitled the Public
				Authorities Law.
(39) Public Health
				Law (PHL) means chapter 45 of the Consolidated Laws of the State entitled the
				Public Health Law.
(40) Public
				notice means publication in the State Register and any other means of making
				information available to the general public that the corporation deems
				appropriate.
(41) Public water
				supply means any water system as defined in 10 NYCRR Part 5, Subpart 5-1,
				section 5-1.1, public water systems.
(42) Recipient means any project sponsor who
				has or will receive assistance from the fund.
(43) Safe drinking water act means title XIV
				of the Public Health Service Act
				42 USC
				section 300 -f et seq.
(44) Segment of a project means one or more
				construction contracts and associated costs that the corporation and DOH
				determine constitute a discrete portion of the eligible project which may be
				financed and constructed separately from other eligible project
				segments.
(45) State means the
				State of New York.
(46) State
				assistance payment means payment of the State's share of the cost of any
				eligible project.
(47) State share
				means the amount of financial assistance from the fund provided to a recipient
				for an eligible project.