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 4213.10 - Miscellaneous

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The recipient
				of financial assistance from the loan fund must agree to consider, for new
				employment opportunities generated by the project, individuals on public
				assistance and those eligible to participate in Federal Job Training
				Partnership Act programs.
(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 otherwise
				eligible enterprise, the majority ownership interest of which is legally or
				beneficially controlled by any such State employee, be eligible to receive
				assistance under this program.
(c)
				Applicants must indicate whether a consultant has been utilized in the
				formulation and/or preparation of their project proposals and/or application
				for program assistance. No consultant so employed may charge a fee, nor shall
				any applicant pay a fee or agree to pay a fee, contingent upon the applicant
				obtaining program assistance.
(d)
				The corporation's policy is to encourage employers that receive significant
				assistance from the State of New York to agree to provide notification of plant
				closings or major layoffs. The recipients of $100,000 or more of financial
				assistance from the corporation (including loans, loan guarantees and linked
				deposits) which are expected to have an employment level of 50 or more persons
				at the project site within one year of the disbursement of the program
				assistance will be encouraged to give a minimum of 90 days' notice to its
				employees and UDC prior to the reduction of its permanent work force over a
				one-year period by the greater of (1) 50 employees, or (2) 50 percent of its
				work force.
(e) Recipients of
				financial assistance from the corporation in an amount equal to or greater than
				$100,000, for a term of three years or more and which are expected to employ 50
				or more permanent employees by a projected employment date, shall be subject to
				the corporation's interest rate adjustment policy for the program. In the event
				such recipient's work force falls short of the projected work force on the
				projected employment date by a percentage of 15 percent or more, then the
				interest rate for the UDC financial assistance shall be increased to a rate
				equal to two percent above the prevailing prime interest rate at the time of
				the increase. Interest rate adjustments, if any, will be made on an annual
				basis.
(f) An affirmative action
				program for each project receiving financial assistance from the corporation
				shall be developed by the corporation in consultation with the recipient of
				financial assistance and any other involved party, in compliance with all
				applicable laws. Compliance with the affirmative action program and with
				provisions of law prohibiting discrimination in employment or hiring on the
				basis of age, race, creed, color, national origin, sex, disability or marital
				status, shall be required.