19 CRR-NY 250.1NY-CRR

STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 19. DEPARTMENT OF STATE
CHAPTER VIII. DIVISION OF CONSUMER PROTECTION
PART 250. STANDARD APPLICATION FORM
19 CRR-NY 250.1
19 CRR-NY 250.1
250.1 Standard application form.
(a) Each industrial development agency or authority shall develop a standard application form, which shall be posted and be made publicly accessible on its website. Such standard application form shall be used by the agency or authority to accept requests for financial assistance from all individuals, firms, companies, developers or other entities or organizations. The standard application form shall include the following, including all supporting documents and information provided by or on behalf of the applicant:
(1) the name and address of the project applicant;
(2) a description of the proposed project for which financial assistance is requested, including the type of project, proposed location and purpose of the project;
(3) the amount and type of financial assistance being requested, including the itemized estimated value of each type of tax exemption sought to be claimed by reason of the agency or authority involvement in the project;
(4) a statement that there is a likelihood that the project would not be undertaken but for the financial assistance provided by the agency or authority, or, if the project could be undertaken without financial assistance provided by the agency or authority, a statement indicating why the project should be undertaken by the agency or authority;
(5) an itemized estimate of capital costs of the project, including all costs of each real property and equipment acquisition and building construction or reconstruction, financed from private sector sources, an estimate of the percentage of project costs financed from public sector sources, and an estimate of both the total amount to be invested by the applicant and the amount to be borrowed to finance the project;
(6) the projected number of full time equivalent jobs that would be retained and that would be created if the request for financial assistance is granted (and if part-time jobs are part of the financial assistance a proportion of a full time equivalent job is to be calculated), the projected monthly timeframe for the creation of new jobs per year , the estimated salary and fringe benefit averages or ranges for categories of the jobs that would be retained or created if the request for financial assistance is granted, and an estimate of the number of residents of the economic development region as established pursuant to section 230 of the Economic Development Law or the labor market area as defined by the agency or authority, in which the project is located that would fill such jobs. The labor market area defined by the agency or authority for this purpose may include no more than six contiguous counties in the State, including the county in which the project is to be located;
(7) a statement, signed by an individual authorized to bind the project applicant, expressing that the provisions of subdivision (1) of section 862 of the General Municipal Law will not be violated if financial assistance is provided for the proposed project; e.g., for interstate moves, β€œ The completion of this entire project will not result in the removal of an industrial or manufacturing plant of the project occupant from one area of the State to another area of the State or in the abandonment of one or more plants or facilities of the project occupant located within the State.” Or in the event that such project moves intrastate, β€œThe completion of this entire project will result in the removal of an industrial or manufacturing plant of the project occupant from one area of the State to another area of the State or in the abandonment of one or more plants or facilities of the project occupant located within the State because the project is reasonably necessary to discourage the project occupant from removing such other plant or facility to a location outside the State or is reasonably necessary to preserve the competitive position of the project occupant in its respective industry.”
(8) a statement signed by an individual authorized to bind the project applicant that the owner, occupant or operator receiving financial assistance is in substantial compliance with applicable local, State and Federal tax, worker protection and environmental laws, rules and regulations; and
(9) a statement signed an individual authorized to bind the project applicant, acknowledging that the submission of any knowingly false or knowingly misleading information may lead to the immediate termination of any financial assistance and the reimbursement of an amount equal to all or part of any tax exemptions claimed by reason of agency or authority involvement in the project as well as may lead to other possible enforcement actions.
(b) Each agency or authority shall develop, and adopt by resolution, which shall be made publicly available and accessible and posted on its website, the uniform criteria for the evaluation and selection for each category of projects for which financial assistance will be provided. The criteria shall include but not be limited to require that, for each project, the following must occur prior to the approval of the provision of financial assistance:
(1) an assessment by the agency or authority of all material information included in connection with the application for financial assistance, as necessary to afford a reasonable basis for the decision by the agency or authority to provide financial assistance for the project;
(2) a written cost-benefit analysis by the agency or authority that identifies the extent to which a project will create or retain permanent, private sector jobs; the estimated value of any tax exemptions to be provided; the amount of private sector investment generated or likely to be generated by the proposed project; the likelihood of accomplishing the proposed project in a timely fashion; and the extent to which the proposed project will provide additional sources of revenue for municipalities and school districts; and any other public benefits that may occur as a result of the project;
(3) a statement by an individual authorized to bind the project applicant, as of the date of the completed and submitted application, is in substantial compliance with all the requirements of Chapter 563 of the Laws of 2015 and subdivision (1) of section 862 of the General Municipal Law; and
(4) if the project involves the removal or abandonment of a facility or plant within the State, notification by the agency or authority to the chief executive officer or officers of the municipality or municipalities in which the facility or plant was located.
(c) Each agency or authority shall conspicuously post on their website the completed, developed uniform authority project agreement and all attachments, appendixes and any other relevant records that sets forth terms and conditions under which financial assistance shall be provided, including but not limited to the completed project application form submitted by the project applicant for consideration. The posted uniform agency or authority project agreement and its accompanying records shall be used by the authority and no financial assistance shall be provided in the absence of the execution of such an agreement. Upon approval of a project by the board of directors, the agency or authority shall conspicuously post the completed project application and the completed comprehensive uniform authority project agreement with all its attachments on its website. The uniform agency or authority project agreement shall, at a minimum:
(1) describe the project and the financial assistance, including the amount and type, to be provided, and the authority purpose to be achieved;
(2) require each project owner, occupant or operator receiving financial benefits to provide annually a certified statement and supporting documentation:
(i) enumerating the full time equivalent jobs retained and the full time equivalent jobs created as a result of the financial assistance, by category, including full time equivalent independent contractors or employees of independent contractors that work at the project location; and
(ii) indicating that the salary and fringe benefit averages or ranges for categories of jobs retained and jobs created that was provided in the application is still accurate and if it is not still accurate, providing a revised list of salary and fringe benefit averages or ranges for categories of jobs retained and jobs created, and an explanation for why it is not still accurate;
(3) indicate the dates when payments in lieu of taxes are to be made and provide an estimate of the amounts for each affected tax jurisdiction of any payments in lieu of taxes that are included as part of the transaction, or formula or formulas by which those amounts may be calculated. In lieu of providing such information, a copy of an executed payment in lieu of tax agreement that contains the same information may be attached to the uniform authority project agreement;
(4) provide for the suspension or discontinuance of financial assistance, or for the modification of any payment in lieu of tax agreement to require increased payments, in accordance with policies developed by the agency or authority pursuant to General Municipal Law section 874;
(5) provide for the return of all or a part of the financial assistance provided for the project, including all or part of the amount of any tax exemptions, which shall be redistributed to the appropriate affected tax jurisdiction, as provided for in policies developed by the agency or authority pursuant to General Municipal Law section 874, unless agreed to otherwise in writing by any local taxing jurisdiction or jurisdictions; and
(6) provide that the owner, occupant or operator receiving financial assistance shall certify, under penalty of perjury, that it is in substantial compliance with all local, State and Federal tax, worker protection and environmental laws, rules and regulations.
(d) Each agency or authority shall establish and make conspicuously available on its website the developed policies for the suspension or discontinuance of financial assistance, or for the modification of any payment in lieu of tax agreement to require increased payments under circumstances as specified in the policy, which may include but shall not be limited to events of material violation of the terms and conditions of a project agreement made pursuant to section 874 of the General Municipal Law.
(e) Each agency or authority shall make conspicuously available on its website the developed policies for the return of all or a part of the financial assistance provided for the project, including all or part of the amount of any tax exemptions or payments in lieu of taxes, as specified in the policy, which may include but shall not be limited to material shortfalls in job creation and retention projections or material violations of the terms and conditions of project agreements. All such returned amounts of tax exemptions shall be redistributed to the appropriate affected tax jurisdiction, unless agreed to otherwise by any local taxing jurisdiction.
(f) Each agency or authority shall at least once annually make publicly available on its website the assessments of the progress of each project for which bonds or notes remain outstanding or straight-lease transactions have not terminated, or which continue to receive financial assistance or are otherwise active, toward achieving the investment, job retention or creation, or other objectives of the project indicated in the project application. Such assessments shall be provided to board members and shall be made available to the public on the authority website.
19 CRR-NY 250.1
Current through October 15, 2021
End of Document

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.