New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter L - New York State Urban Development Corporation
Part 4209 - Regional Revolving Loan Trust Fund
Section 4209.7 - Approval of eligible projects
Current through Register Vol. 44, No. 38, September 21, 2022
(a) Regional corporations' loan committees shall review each application by eligible businesses for assistance, determine the feasibility of the transaction proposed in the application, and shall recommend to the board of directors or other governing body of the regional corporation such action as the committee deems appropriate.
(b) The decision to approve or reject an application for financial assistance pursuant to the provisions of this Part shall be made by a majority of the directors of the regional corporation.
(c) Upon approval of an application for assistance to an eligible project, the regional corporation shall request approval from the corporation to proceed with providing the assistance to the eligible project and, as part of such request, shall certify to the corporation:
(d) Upon approval by the corporation of the proposed assistance to an eligible project, the regional corporation may:
Renumbered from 4209.8 New York State Register July 11, 2018/Volume XL, Issue 28, eff. 7/11/2018