New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter L - New York State Urban Development Corporation
Part 4212 - High-risk Targeted Investment Program
Section 4212.12 - Assistance for commercial revitalization projects

Universal Citation: 21 NY Comp Codes Rules and Regs ยง 4212.12

Current through Register Vol. 46, No. 12, March 20, 2024

(a) Maximum level of assistance from the corporation:

(1) up to 100 percent of the project architect's fee, but not to exceed an average of $1,200 per storefront plus reimbursables which reimbursables shall not exceed 10 percent of the project architect's fee;

(2) up to 50 percent of the eligible project costs for each participating storefront to a maximum corporation investment of $7,500 per storefront, assuming an average storefront measures 20 feet in width in a building not exceeding three stories; and

(3) fifty percent of the total eligible project costs, plus the costs of the public improvements and private investments for the commercial revitalization project up to a maximum corporation investment of up to $225,000.

(b) Minimum level of assistance from the corporation:

(1) minimum participation by the corporation in any commercial revitalization project shall be $50,000; and

(2) minimum per storefront shall be $1,000.

(c) Project architect. The project architect, who must be licensed to practice architecture within the State (the "project architect"), shall be selected by the corporation in consultation with the eligible recipient (or its designee) based upon consideration of the following criteria:

(1) the proximity of the project architect's offices to the location of the commercial revitalization project;

(2) the proposed fee for architectural services;

(3) the proposed scope of basic architectural services; and

(4) prior experience of the project architect.

The project architect will work with the applicant and the eligible recipient, property owners and tenants and the corporation to prepare an overall design concept and specifications, and schematic drawings. The project architect shall also prepare cost estimates and all necessary working drawings and specifications for the eligible building facade improvements. The project architect shall be responsible for contract administration during the construction phase of the commercial revitalization project. The project architect's services shall be performed pursuant to a contract with the corporation.

(d) Contractors. Participating property owners and/or tenants will be responsible for hiring contractors to perform the eligible building facade improvements. Applicants are required to describe in their applications the assistance that they will provide to property owners in meeting this requirement. Contractors who own 51 percent or more of a contracting business and who wish to be participating property owners and/or tenants will not be eligible to be hired as the contractor to perform the eligible building facade improvements for their own properties. Such contractors will, however, be eligible to perform such improvements for other properties that participate in the commercial revitalization project. All contractors must carry reasonable insurance. Contractors may also be required to be bonded in circumstances where they receive partial payment from the corporation pending completion of work.

Disclaimer: These regulations may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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