3 CRR-NY 8.4NY-CRR
3 CRR-NY 8.4
3 CRR-NY 8.4
8.4 Required information that must be included in an application to the superintendent for designation of a proposed banking development district.
A local government, in conjunction with a bank may submit an application to the superintendent for the designation of a proposed banking development district. The local government that applies for banking development district designation may be different from the governing board of the municipal corporation which adopts a local law, ordinance or resolution implementing section 105 of the New York Finance Law and section 485-f of the New York Real Property Tax Law. The application shall include the following:
(a) identification of the political subdivision in the State, whether county, town, city, or village, which shall constitute the proposed banking development district;
(b) in those instances in which the proposed banking development district is a portion of a political subdivision, identification of the census tracts as well as street boundaries which shall constitute the proposed banking development district;
(c) evidence of the approval of the application by the governing board of the local government;
(d) characterization of the proposed banking development district as urban or rural as such terms are defined by the United States Census Bureau;
(e) the number of residents of the proposed banking development district;
(f) distribution of banking services—provide, with regard to the following geographic areas:
(1) within the proposed banking development district;
(2) within the entire political subdivision if different from paragraph (1) of this subdivision; and
(3) within a reasonable distance of the proposed banking development district, such distance to be supported by a narrative justification:
(i) the identification and location of all full-service branches of all banking institutions;
(ii) the identification and location of all sites which offer both deposit-taking ATMs and ALMs;
(iii) the identification and location of all alternative providers of banking services;
(iv) the identification and location of deposit-taking ATMs (other than those sited at full-service branches); and
(v) the identification and location of non-deposit-taking ATMs (other than those sited at full-service branches);
(g) income measures, including, but not limited to, per capita annual income and median household annual income of the proposed banking development district utilizing either the most recent United States Census Bureau data or the most recent Department of Housing and Urban Development (“HUD”) annual income estimates;
(h) other economic indicators, where readily available, including, but not limited to, unemployment data, percentage of the population at or below the poverty level, percentage of the population at or below 200 percent of the poverty level, and percentage of the population receiving public assistance within the proposed banking development district. Unemployment data may be submitted for a political subdivision in which the proposed banking development district is located;
(i) description of the public transportation systems and major roadways, if any, in the proposed banking development district. Maps and/or diagrams may be included in the description;
(j) narrative establishing that a branch would be economically viable within the proposed banking development district if the statutory economic incentives are provided;
(k) specification of whether the proposed banking development district, or any portion thereof, lies within an area which has been designated as a New York State Empire Zone or Enterprise Community or Federal Empowerment Zone or has received similar designation from any Federal, State, or local government entity;
(l) a narrative description of the natural and man-made geographic barriers, if any, that may impede physical access to existing banking services;
(m) a narrative description of the distances and travel times from the applicant's proposed site to banking institutions and alternative providers of banking services both within the proposed banking development district and within the reasonable distance specified in paragraph (f)(3) of this section;
(n) affirmation by the applicant bank that it will not establish the proposed banking development district branch with the intention of closing or relocating any existing nearby branch or branches; and
(o) such other documents or information as the superintendent, in his or her discretion, may deem necessary.
3 CRR-NY 8.4
Current through January 31, 2023
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: JULY 31, 2023, is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Admisnistrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of the NYS Rules.