9 CRR-NY 431.3NY-CRR
STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 9. EXECUTIVE DEPARTMENT
SUBTITLE I. OFFICE OF PARKS, RECREATION AND HISTORIC PRESERVATION
CHAPTER IV. ENVIRONMENTAL ASSISTANCE PROGRAMS
SUBCHAPTER A. CLEAN WATER/CLEAN AIR BOND ACT OF 1996
PART 431. PROVISIONS RELATING TO ALL PROJECTS
9 CRR-NY 431.3
9 CRR-NY 431.3
431.3 Project sponsor's interest in real property for development projects.
If the project sponsor is not the sole owner of the unencumbered fee of land on which a development project will be undertaken, the following documents will be required to qualify the project sponsor's interest in the property for State assistance:
(a) the agreement of the owner to execute the project agreement and public benefit agreement as guarantor; and
(b) a copy of a lease, easement, contract or memorandum of understanding establishing the project sponsor's interest in the property. Such document shall:
(1) be of sufficient duration and stability to assure that the project sponsor will be able to comply with this Subchapter; and
(2) contain terms and conditions sufficient to ensure a period of public use of at least 23 years from the date on which the final payment on the project is issued by the State Comptroller.
9 CRR-NY 431.3
Current through September 15, 2021
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above 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 Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.