§ 16-e. Regional economic development partnership program. (1) For the\npurposes of this section, the following words and terms shall have the\nfollowing meanings:\n (a) "Business development project". A project involving an industrial,\nmanufacturing, commercial, research and development, high technology,\ntourism, agricultural or service company.\n (b) "Business infrastructure project". A project involving an\nindustrial, manufacturing, commercial, research and development, high\ntechnology, tourism, agricultural or service company which shall\ninclude, but not be limited to, basic systems and facilities on public\nor privately owned property including drainage systems, sewer systems,\naccess roads, sidewalks, docks, wharves, water supply systems, and site\nclearance, preparation, improvements, and demolition.\n (c) "Child care assistance project". A project for the establishment,\nexpansion, and development of licensed not-for-profit child day care\ncenters which serve the needs of small and medium-sized commercial,\nindustrial, service and other small and medium-sized businesses,\nhealth-related businesses and degree-granting institutions of higher\neducation.\n (d) "Infrastructure investment project". A project consisting solely\nof site preparation, clearance and demolition on property owned by a\nmunicipality, local development corporation, urban renewal agency or\nindustrial development agency designated by a municipality.\n (e) "Infrastructure planning projects" shall mean projects consisting\nsolely of planning, including the preparation of schematic designs and\npreliminary environmental assessments for a business infrastructure\nproject or an infrastructure investment project.\n (f) "Skills training assistance". A project related to the provision\nof firm-specific or industry-specific employee retraining, skills\nupgrading, and productivity enhancement, including assessment and\ntraining related to the implementation of high-performance work\norganization strategies.\n (g) "Tourism destination". A location or facility which is likely to\nattract a significant number of visitors from outside the region.\n (h) "Revolving loan fund account grants" shall include: (i) grants to\nprovide the local match for federally funded community-based loan funds;\n(ii) grants to capitalize and recapitalize regional revolving loan trust\nfund accounts pursuant to section sixteen-a of this act; and (iii)\ngrants to recapitalize minority and women revolving loan trust fund\naccounts established pursuant to section sixteen-c of this act.\n (2) Loans and grants. The corporation may make loans and grants for\nregional strategic planning, business development projects, business\ninfrastructure and infrastructure investment projects, skills training\nassistance projects, economic development assistance projects, and child\ncare assistance projects, that create or retain permanent private-sector\njobs. Such projects and programs except as specifically provided herein:\n (a) Must be consistent with a regional strategic plan for economic\ndevelopment, as coordinated by the chairman of the corporation and\napproved by the director of the budget, with copies filed with the\nspeaker of the assembly and the temporary president of the senate;\n (b) Must create or retain substantial permanent private-sector jobs in\nthe case of business development loans and business infrastructure\nprojects, or in the case of a child care assistance project the\ncorporation determines that the child day care center will improve or\nmaintain the productivity of the sponsoring company or companies;\n (c) Must be reasonably likely to be completed within the time and cost\nestimates presented in the proposal; and\n (d) Must be unable to obtain sufficient funding on reasonable terms\nfrom other public or private sources to permit the project to proceed\nwithout the requested assistance; and\n (3) Ineligible projects. Ineligible projects shall include retai
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.