Current through Register Vol. 45, No. 52, December 27, 2023
(a) Only
land use improvement projects, industrial projects and commercial
revitalization projects may receive program assistance from the corporation. To
be eligible for consideration to receive program assistance, projects must
satisfy the criteria set forth in this section. In addition, commercial
revitalization projects must satisfy the eligibility criteria set forth in
section
4212.7
of this Part.
(b) With respect to a
land use improvement project:
(1) The project
must consist of either:
(i) facilities for
which the eventual use shall be designed and intended for commercial, retail or
office purposes, provided that such facilities are located or are planned in
neighborhoods which have an existing residential project which was assisted by
the State, or a Federal agency, municipality or public corporation;
or
(ii) a grant to conduct a study
regarding the feasibility of or preliminary planning for facilities of the
character described in subparagraph (i) of this paragraph.
(2) The distressed area criteria set forth in
subdivision (d) of this section must be satisfied.
(3) The characteristics of the project
reflect and are consistent with the findings required by subdivisions (c), (g)
and (h) of section 10 of the UDC Act.
(c) With respect to an industrial project:
(1) The project must consist of either:
(i) facilities for which the eventual use
shall be designed and intended for manufacturing, warehousing, research and
other industrial purposes; and
(ii)
a grant to conduct a study regarding the feasibility of or preliminary planning
for facilities of the character described in subparagraph (i) of this
paragraph.
(2) The
distressed area criteria set forth in subdivision (d) of this section must be
satisfied.
(3) The characteristics
of the project reflect and are consistent with the findings required by
subdivisions (b), (g) and (h) of section 10 of the UDC Act.
(d) The area within which the
project is located must display either socioeconomic distress or economic
deterioration, as described below:
(1) In
determining the presence of socioeconomic distress, the corporation shall
consider, among other things, the number of persons living below the poverty
level who are receiving public assistance in the relevant area, and income
levels of such persons. An area characterized by socioeconomic distress
presents the following characteristics, among others:
(i) the percentage of the population in the
relevant area which is living below the poverty level either:
(a) is equal to or greater than the statewide
average of population living below such level; or
(b) is increasing at a rate in excess of the
rate at which such statewide average is increasing; or
(ii) the percentage of the population in the
relevant area which is receiving public assistance either:
(a) is equal to or greater than the statewide
percentage of the population receiving such assistance; or
(b) is increasing at a rate in excess of the
rate at which such statewide average is increasing.
(2) In determining the presence of
economic deterioration, the corporation shall consider, among other things,
levels of overall economic activity, levels of labor force activity, and any
other statistics which the corporation reasonably determines may appropriately
be employed to measure the amount of such economic deterioration. An area
characterized by economic deterioration displays the following characteristics
among others:
(i) the level of payroll
employment in the relevant area shows a greater rate of decline, or a smaller
rate of increase, than the rate of change in the statewide level of payroll
employment over the last two calendar years or 24- month period; or
(ii) the level of unemployment in the
relevant area is equal to or greater than the statewide level of unemployment
for the last two calendar years or 24-month period.
(e) Notwithstanding any other
provision of this Chapter, no project shall be eligible to receive program
assistance from the corporation if:
(1) the
project is or will be owned, controlled, operated or developed by any person,
partnership, corporation or other entity a controlling interest of which is
legally or beneficially owned by one or more employees of the State or
instrumentality of the State; or
(2) the effect of the project would be to
move jobs from one area within the State to another area within the State, and
the area from which jobs would be exported has not given its written consent to
the project.